Martingale Asset Management L P Makes New $425,000 Investment in Preferred Bank (NASDAQ:PFBC)

Martingale Asset Management L P bought a new stake in Preferred Bank (NASDAQ:PFBC) during the third quarter, HoldingsChannel reports. The firm bought 5,300 shares of the bank’s stock, valued at approximately $425,000.

Several other large investors have also modified their holdings of PFBC. Vanguard Group Inc. raised its stake in Preferred Bank by 1.3% during the first quarter. Vanguard Group Inc. now owns 868,073 shares of the bank’s stock valued at $66,642,000 after buying an additional 10,931 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Preferred Bank by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 680,337 shares of the bank’s stock worth $51,357,000 after purchasing an additional 4,539 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Preferred Bank by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 415,722 shares of the bank’s stock worth $33,362,000 after purchasing an additional 7,086 shares during the period. LSV Asset Management increased its stake in 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 last quarter. Finally, Dana Investment Advisors Inc. raised its holdings in shares of Preferred Bank by 7.4% during the second quarter. Dana Investment Advisors Inc. now owns 98,591 shares of the bank’s stock worth $7,443,000 after purchasing an additional 6,809 shares during the period. Institutional investors own 72.77% of the company’s stock.

Analyst Ratings Changes

Separately, Stephens lifted their price target 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 Trading Down 0.6 %

NASDAQ:PFBC opened at $94.05 on Wednesday. The firm has a market capitalization of $1.36 billion, a P/E ratio of 9.42 and a beta of 0.96. The business has a 50 day simple moving average of $87.07 and a 200 day simple moving average of $81.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 1.08. Preferred Bank has a 12-month low of $63.90 and a 12-month high of $99.78.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Monday, October 21st. The bank reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.07. The company had revenue of $132.88 million during the quarter, compared to the consensus estimate 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 previous year, the company posted $2.71 earnings per share. Equities research analysts predict that Preferred Bank will post 9.75 EPS for the current year.

Preferred Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend was Monday, October 7th. Preferred Bank’s dividend payout ratio (DPR) is 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.