Sei Investments Co. Raises Holdings in Preferred Bank (NASDAQ:PFBC)

Sei Investments Co. boosted its stake in Preferred Bank (NASDAQ:PFBC) by 6.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,137 shares of the bank’s stock after buying an additional 323 shares during the quarter. Sei Investments Co.’s holdings in Preferred Bank were worth $388,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PFBC. CWM LLC grew its holdings in shares of Preferred Bank by 96.4% during the second quarter. CWM LLC now owns 1,043 shares of the bank’s stock worth $79,000 after buying an additional 512 shares in the last quarter. SG Americas Securities LLC acquired a new position in Preferred Bank in the 1st quarter valued at $118,000. Picton Mahoney Asset Management purchased a new position in shares of Preferred Bank during the 2nd quarter worth $161,000. XTX Topco Ltd acquired a new stake in shares of Preferred Bank during the second quarter worth $229,000. Finally, Denali Advisors LLC purchased a new stake in shares of Preferred Bank in the second quarter valued at $249,000. Hedge funds and other institutional investors own 72.77% of the company’s stock.

Analysts Set New Price Targets

PFBC has been the topic of several recent analyst reports. Stephens increased their target price on Preferred Bank from $84.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. 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 report on Monday, July 29th.

Preferred Bank Stock Down 0.0 %

Shares of NASDAQ PFBC opened at $80.37 on Friday. The stock has a market capitalization of $1.16 billion, a PE ratio of 7.76 and a beta of 0.95. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.21. The firm has a fifty day moving average of $79.34 and a 200-day moving average of $77.77. Preferred Bank has a 52-week low of $58.52 and a 52-week high of $91.67.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $2.48 EPS for the quarter, topping the consensus estimate of $2.39 by $0.09. The company had revenue of $130.70 million during the quarter, compared to analyst estimates of $70.55 million. Preferred Bank had a return on equity of 20.24% and a net margin of 27.35%. During the same period in the prior year, the firm posted $2.61 earnings per share. On average, analysts anticipate that Preferred Bank will post 9.6 EPS for the current year.

Preferred Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, October 7th will be given a dividend of $0.70 per share. The ex-dividend date is Monday, October 7th. This represents a $2.80 dividend on an annualized basis and a yield of 3.48%. Preferred Bank’s dividend payout ratio (DPR) is 27.03%.

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.