Jackson Creek Investment Advisors LLC Acquires Shares of 18,574 Preferred Bank $PFBC

Jackson Creek Investment Advisors LLC acquired a new stake in shares of Preferred Bank (NASDAQ:PFBC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,574 shares of the bank’s stock, valued at approximately $1,754,000. Jackson Creek Investment Advisors LLC owned approximately 0.13% of Preferred Bank at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH raised its position in Preferred Bank by 675.6% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 24,417 shares of the bank’s stock valued at $2,395,000 after purchasing an additional 21,269 shares in the last quarter. Tudor Investment Corp ET AL increased its holdings in shares of Preferred Bank by 65.0% during the third quarter. Tudor Investment Corp ET AL now owns 27,921 shares of the bank’s stock worth $2,524,000 after buying an additional 10,998 shares in the last quarter. Denali Advisors LLC acquired a new position in shares of Preferred Bank during the third quarter worth $3,091,000. American Century Companies Inc. increased its holdings in shares of Preferred Bank by 15.7% during the third quarter. American Century Companies Inc. now owns 337,804 shares of the bank’s stock worth $30,534,000 after buying an additional 45,946 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Preferred Bank by 36.1% during the third quarter. New York State Common Retirement Fund now owns 31,322 shares of the bank’s stock worth $2,831,000 after buying an additional 8,300 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 $94.86 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.45. Preferred Bank has a twelve month low of $79.60 and a twelve month high of $103.05. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 8.88 and a beta of 0.56. The company’s fifty day moving average is $92.63 and its 200 day moving average is $92.88.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings data on Wednesday, April 22nd. The bank reported $2.53 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.05. Preferred Bank had a net margin of 26.49% and a return on equity of 17.52%. The company had revenue of $69.62 million for the quarter, compared to analysts’ expectations of $71.76 million. Sell-side analysts forecast that Preferred Bank will post 10.58 EPS for the current year.

Preferred Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 21st. Investors of record on Tuesday, April 7th were paid a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, April 7th. This represents a $3.20 annualized dividend and a dividend yield of 3.4%. Preferred Bank’s payout ratio is currently 29.96%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PFBC shares. Brean Capital downgraded shares of Preferred Bank from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Weiss Ratings downgraded shares of Preferred Bank from a “buy (b)” rating to a “hold (c+)” rating in a report on Friday, May 15th. Janney Montgomery Scott started coverage on shares of Preferred Bank in a report on Tuesday, February 24th. They set a “neutral” rating and a $100.00 price target for the company. Finally, Piper Sandler upped their price target on shares of Preferred Bank from $105.00 to $111.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Preferred Bank has a consensus rating of “Hold” and an average price target of $102.00.

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.