Princeton Capital Management LLC Buys Shares of 2,500 Preferred Bank (NASDAQ:PFBC)

Princeton Capital Management LLC purchased a new stake in Preferred Bank (NASDAQ:PFBC) during the 3rd quarter, Holdings Channel reports. The fund purchased 2,500 shares of the bank’s stock, valued at approximately $201,000.

Several other large investors have also modified their holdings of the business. Copeland Capital Management LLC purchased a new stake in Preferred Bank in the 3rd quarter valued at approximately $54,000. Point72 DIFC Ltd boosted its stake in shares of Preferred Bank by 69.9% during the second quarter. Point72 DIFC Ltd now owns 848 shares of the bank’s stock valued at $64,000 after acquiring an additional 349 shares during the last quarter. CWM LLC raised its stake in Preferred Bank by 96.4% in the 2nd quarter. CWM LLC now owns 1,043 shares of the bank’s stock valued at $79,000 after purchasing an additional 512 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in Preferred Bank by 35.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,486 shares of the bank’s stock valued at $112,000 after purchasing an additional 386 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Preferred Bank in the 1st quarter valued at about $118,000. 72.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PFBC shares. Stephens boosted their price objective on shares of Preferred Bank from $90.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Piper Sandler increased their price target on Preferred Bank from $88.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th.

Preferred Bank Stock Down 0.4 %

PFBC opened at $93.27 on Tuesday. Preferred Bank has a 12 month low of $61.24 and a 12 month high of $97.21. The business has a 50-day moving average of $83.55 and a two-hundred day moving average of $80.01. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 9.35 and a beta of 0.94.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings results on Monday, October 21st. The bank reported $2.46 EPS for the quarter, topping the consensus estimate of $2.39 by $0.07. The firm had revenue of $132.88 million during the quarter, compared to analyst estimates of $68.80 million. Preferred Bank had a net margin of 26.20% and a return on equity of 19.01%. During the same quarter in the prior year, the business posted $2.71 earnings per share. On average, research analysts expect that Preferred Bank will post 9.75 earnings per share for the current year.

Preferred Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were paid a dividend of $0.70 per share. The ex-dividend date was Monday, October 7th. This represents a $2.80 annualized dividend and a yield of 3.00%. Preferred Bank’s dividend payout ratio is presently 28.06%.

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.