Bokf Na Boosts Holdings in Preferred Bank (NASDAQ:PFBC)

Bokf Na raised its stake in shares of Preferred Bank (NASDAQ:PFBC) by 87.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,290 shares of the bank’s stock after purchasing an additional 3,406 shares during the period. Bokf Na owned 0.05% of Preferred Bank worth $550,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in Preferred Bank by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 667,256 shares of the bank’s stock worth $48,745,000 after acquiring an additional 10,259 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Preferred Bank during the 4th quarter valued at approximately $942,000. Quest Partners LLC purchased a new stake in Preferred Bank during the 4th quarter valued at $402,000. Olympiad Research LP bought a new stake in Preferred Bank in the fourth quarter worth $240,000. Finally, Rafferty Asset Management LLC boosted its stake in Preferred Bank by 50.7% during the fourth quarter. Rafferty Asset Management LLC now owns 20,354 shares of the bank’s stock worth $1,487,000 after buying an additional 6,850 shares during the period. 72.77% of the stock is owned by institutional investors.

Preferred Bank Price Performance

Shares of PFBC stock opened at $80.38 on Tuesday. The stock’s 50-day moving average is $80.37 and its 200 day moving average is $76.99. Preferred Bank has a 1-year low of $58.52 and a 1-year high of $91.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $1.16 billion, a P/E ratio of 7.76 and a beta of 0.96.

Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings results on Thursday, July 25th. The bank reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.39 by $0.09. The business had revenue of $130.70 million for the quarter, compared to analysts’ expectations of $70.55 million. Preferred Bank had a net margin of 27.35% and a return on equity of 20.24%. During the same period last year, the business earned $2.61 EPS. Research analysts predict that Preferred Bank will post 9.61 earnings per share for the current fiscal year.

Preferred Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 5th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Friday, July 5th. Preferred Bank’s payout ratio is presently 27.03%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Piper Sandler increased their price objective on shares of Preferred Bank from $88.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Stephens raised their price objective on Preferred Bank from $84.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th.

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.