Point72 Asia Singapore Pte. Ltd. Invests $76,000 in Preferred Bank (NASDAQ:PFBC)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Preferred Bank (NASDAQ:PFBC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 945 shares of the bank’s stock, valued at approximately $76,000.

Several other institutional investors have also recently bought and sold shares of PFBC. Copeland Capital Management LLC bought a new stake in shares of Preferred Bank during the third quarter worth $54,000. Point72 DIFC Ltd grew its holdings in Preferred Bank by 69.9% during the 2nd quarter. Point72 DIFC Ltd now owns 848 shares of the bank’s stock worth $64,000 after acquiring an additional 349 shares during the last quarter. CWM LLC grew its holdings in Preferred Bank by 96.4% during the 2nd quarter. CWM LLC now owns 1,043 shares of the bank’s stock worth $79,000 after acquiring an additional 512 shares during the last quarter. Point72 Asset Management L.P. increased its position 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 acquiring an additional 386 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Preferred Bank by 194.1% in the third quarter. Advisors Asset Management Inc. now owns 1,906 shares of the bank’s stock worth $153,000 after acquiring an additional 1,258 shares during the last quarter. Institutional investors own 72.77% of the company’s stock.

Analyst Ratings Changes

Separately, Stephens raised 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 0.7 %

Shares of PFBC opened at $93.73 on Friday. The stock’s fifty day simple moving average is $87.96 and its 200-day simple moving average is $81.61. The firm has a market capitalization of $1.35 billion, a PE ratio of 9.39 and a beta of 0.96. Preferred Bank has a 12-month low of $64.99 and a 12-month high of $99.78. 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 (NASDAQ:PFBC) last released its earnings results on Monday, October 21st. The bank reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.07. The company had revenue of $132.88 million for 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 period in the prior year, the company posted $2.71 EPS. As a group, research analysts predict that Preferred Bank will post 9.75 earnings per share for the current year.

Preferred Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were paid a $0.70 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $2.80 dividend on an annualized basis and a yield of 2.99%. Preferred Bank’s payout ratio is presently 28.06%.

About Preferred Bank

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.