Versor Investments LP Acquires 3,600 Shares of Preferred Bank (NASDAQ:PFBC)

Versor Investments LP increased its holdings in shares of Preferred Bank (NASDAQ:PFBC) by 28.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,154 shares of the bank’s stock after purchasing an additional 3,600 shares during the period. Versor Investments LP’s holdings in Preferred Bank were worth $1,296,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. LSV Asset Management raised its holdings in shares of Preferred Bank by 121.0% during the second quarter. LSV Asset Management now owns 171,330 shares of the bank’s stock valued at $12,934,000 after purchasing an additional 93,815 shares during the period. Kennedy Capital Management LLC acquired a new position in Preferred Bank during the 1st quarter worth approximately $3,449,000. AQR Capital Management LLC boosted its holdings in Preferred Bank by 24.7% in the second quarter. AQR Capital Management LLC now owns 77,745 shares of the bank’s stock worth $5,869,000 after acquiring an additional 15,391 shares in the last quarter. Vanguard Group Inc. grew its stake in Preferred Bank by 1.3% in the first quarter. Vanguard Group Inc. now owns 868,073 shares of the bank’s stock valued at $66,642,000 after acquiring an additional 10,931 shares during the period. Finally, Inspire Investing LLC bought a new stake in shares of Preferred Bank during the second quarter valued at approximately $791,000. 72.77% of the stock is currently owned by institutional investors.

Preferred Bank Stock Up 3.0 %

PFBC stock opened at $96.21 on Tuesday. The firm has a market capitalization of $1.39 billion, a PE ratio of 9.64 and a beta of 0.94. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.20. Preferred Bank has a twelve month low of $60.20 and a twelve month high of $97.21. The stock’s 50 day moving average is $82.12 and its 200-day moving average is $79.38.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings data on Monday, October 21st. The bank reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.07. The business had revenue of $132.88 million for the quarter, compared to analysts’ expectations of $68.80 million. Preferred Bank had a return on equity of 19.01% and a net margin of 26.20%. During the same period last year, the business earned $2.71 EPS. Sell-side analysts expect that Preferred Bank will post 9.75 EPS for the current fiscal year.

Preferred Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend was Monday, October 7th. Preferred Bank’s dividend payout ratio (DPR) is presently 28.06%.

Wall Street Analysts Forecast Growth

PFBC has been the subject of several research reports. Piper Sandler lifted their price target on shares of Preferred Bank from $88.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Stephens lifted their price objective on shares of Preferred Bank from $90.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd.

Preferred Bank Company Profile

Preferred Bank provides various commercial banking products and services to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals, and high net worth individuals. The company accepts checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.