Hsbc Holdings PLC Buys 28,268 Shares of Preferred Bank $PFBC

Hsbc Holdings PLC boosted its stake in Preferred Bank (NASDAQ:PFBC) by 24.3% during the fourth quarter, HoldingsChannel reports. The firm owned 144,588 shares of the bank’s stock after buying an additional 28,268 shares during the period. Hsbc Holdings PLC’s holdings in Preferred Bank were worth $13,957,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. WINTON GROUP Ltd grew its stake in Preferred Bank by 1.1% in the 4th quarter. WINTON GROUP Ltd now owns 14,136 shares of the bank’s stock worth $1,335,000 after buying an additional 150 shares in the last quarter. Royce & Associates LP raised its position in shares of Preferred Bank by 0.8% during the 4th quarter. Royce & Associates LP now owns 25,200 shares of the bank’s stock valued at $2,380,000 after buying an additional 202 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Preferred Bank by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,266 shares of the bank’s stock worth $608,000 after acquiring an additional 202 shares during the last quarter. Horizon Investments LLC lifted its holdings in shares of Preferred Bank by 3.5% during the 4th quarter. Horizon Investments LLC now owns 6,231 shares of the bank’s stock worth $583,000 after acquiring an additional 209 shares during the last quarter. Finally, Aquatic Capital Management LLC grew its position in Preferred Bank by 6.4% in the third quarter. Aquatic Capital Management LLC now owns 3,954 shares of the bank’s stock worth $357,000 after acquiring an additional 238 shares in the last quarter. 72.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PFBC shares. Piper Sandler raised their price target on Preferred Bank from $105.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Weiss Ratings upgraded Preferred Bank from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $102.00.

Preferred Bank Stock Down 2.1%

NASDAQ PFBC opened at $105.22 on Wednesday. Preferred Bank has a 1 year low of $81.50 and a 1 year high of $112.26. The stock has a market capitalization of $1.52 billion, a PE ratio of 9.85 and a beta of 0.55. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.07 and a quick ratio of 1.06. The business’s 50-day moving average is $97.98 and its 200 day moving average is $94.25.

Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings results on Wednesday, April 22nd. The bank reported $2.53 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.05. Preferred Bank had a return on equity of 17.52% and a net margin of 26.49%.The business had revenue of $69.62 million during the quarter, compared to analyst estimates of $71.76 million. Sell-side analysts forecast that Preferred Bank will post 10.67 earnings per share for the current year.

Preferred Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Tuesday, July 7th. Preferred Bank’s dividend payout ratio is currently 29.96%.

Preferred Bank Profile

Preferred Bank (NASDAQ: PFBC) is a California-chartered commercial bank headquartered in Los Angeles. The institution offers a full range of banking products and services to businesses and individuals, with a particular emphasis on commercial real estate lending, business banking, treasury management and deposit accounts. Preferred Bank operates through branch offices across Southern California and national loan production offices in major U.S. markets.

The bank’s core lending portfolio focuses on commercial real estate acquisition, development and investment properties.