AQR Capital Management LLC Has $5.87 Million Position in Preferred Bank (NASDAQ:PFBC)

AQR Capital Management LLC boosted its stake in Preferred Bank (NASDAQ:PFBC) by 24.7% in the second quarter, Holdings Channel reports. The institutional investor owned 77,745 shares of the bank’s stock after acquiring an additional 15,391 shares during the quarter. AQR Capital Management LLC’s holdings in Preferred Bank were worth $5,869,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PFBC. Squarepoint Ops LLC raised its holdings in shares of Preferred Bank by 27.3% during the second quarter. Squarepoint Ops LLC now owns 9,449 shares of the bank’s stock worth $713,000 after acquiring an additional 2,024 shares in the last quarter. Point72 DIFC Ltd increased its position in Preferred Bank by 69.9% in the 2nd quarter. Point72 DIFC Ltd now owns 848 shares of the bank’s stock worth $64,000 after purchasing an additional 349 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Preferred Bank by 4.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 27,079 shares of the bank’s stock worth $2,044,000 after purchasing an additional 1,146 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Preferred Bank by 6.7% during the 2nd quarter. Sei Investments Co. now owns 5,137 shares of the bank’s stock valued at $388,000 after buying an additional 323 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Preferred Bank in the 2nd quarter valued at approximately $414,000. Institutional investors and hedge funds own 72.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on PFBC shares. Stephens raised their price objective on shares of Preferred Bank from $84.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Piper Sandler increased their price target on shares of 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 Price Performance

Shares of NASDAQ:PFBC opened at $79.84 on Friday. The stock has a market capitalization of $1.15 billion, a P/E ratio of 7.71 and a beta of 0.95. The business has a 50-day moving average of $79.75 and a two-hundred day moving average of $77.61. Preferred Bank has a fifty-two week low of $58.52 and a fifty-two week 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.

Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Thursday, July 25th. The bank reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.09. Preferred Bank had a return on equity of 20.24% and a net margin of 27.35%. The firm had revenue of $130.70 million during the quarter, compared to analyst estimates of $70.55 million. During the same period in the previous year, the company earned $2.61 EPS. On average, equities research analysts predict that Preferred Bank will post 9.61 EPS for the current fiscal year.

Preferred Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $2.80 dividend on an annualized basis and a yield of 3.51%. Preferred Bank’s payout ratio is presently 27.03%.

Preferred Bank 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.