Sei Investments Co. Has $1.99 Million Position in Preferred Bank $PFBC

Sei Investments Co. grew its stake in Preferred Bank (NASDAQ:PFBC) by 46.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,975 shares of the bank’s stock after acquiring an additional 6,919 shares during the quarter. Sei Investments Co. owned 0.15% of Preferred Bank worth $1,993,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in Preferred Bank by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 494,827 shares of the bank’s stock worth $46,727,000 after acquiring an additional 16,348 shares during the last quarter. Nuveen LLC increased its stake in Preferred Bank by 5.4% in the fourth quarter. Nuveen LLC now owns 356,065 shares of the bank’s stock valued at $33,623,000 after purchasing an additional 18,309 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Preferred Bank by 19.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 206,622 shares of the bank’s stock worth $19,511,000 after purchasing an additional 33,124 shares during the period. Kennedy Capital Management LLC raised its holdings in Preferred Bank by 19.9% in the fourth quarter. Kennedy Capital Management LLC now owns 199,419 shares of the bank’s stock worth $18,831,000 after purchasing an additional 33,157 shares during the period. Finally, Hsbc Holdings PLC boosted its position in shares of Preferred Bank by 18.8% during the first quarter. Hsbc Holdings PLC now owns 171,757 shares of the bank’s stock worth $15,606,000 after purchasing an additional 27,169 shares in the last quarter. 72.77% of the stock is currently owned by institutional investors and hedge funds.

Preferred Bank Stock Performance

Shares of Preferred Bank stock opened at $105.76 on Monday. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 9.67 and a beta of 0.56. The stock’s 50-day moving average is $103.22 and its 200-day moving average is $95.54. Preferred Bank has a one year low of $81.50 and a one year high of $112.26. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.08 and a quick ratio of 1.08.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.13. Preferred Bank had a return on equity of 17.27% and a net margin of 26.54%.The business had revenue of $73.47 million during the quarter, compared to the consensus estimate of $73.60 million. Equities analysts predict that Preferred Bank will post 10.71 earnings per share for the current fiscal year.

Preferred Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, July 7th. Preferred Bank’s dividend payout ratio (DPR) is currently 29.25%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PFBC shares. Stephens boosted their price target on shares of Preferred Bank from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Piper Sandler raised their price objective on Preferred Bank from $105.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Finally, Weiss Ratings upgraded Preferred Bank from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $106.25.

Preferred Bank Company 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.