Quantbot Technologies LP Sells 2,814 Shares of Preferred Bank (NASDAQ:PFBC)

Quantbot Technologies LP reduced its stake in Preferred Bank (NASDAQ:PFBC) by 34.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,288 shares of the bank’s stock after selling 2,814 shares during the period. Quantbot Technologies LP’s holdings in Preferred Bank were worth $457,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PFBC. Boston Partners grew its position in shares of Preferred Bank by 2.5% during the 4th quarter. Boston Partners now owns 530,029 shares of the bank’s stock worth $45,806,000 after buying an additional 12,907 shares in the last quarter. Royce & Associates LP lifted its stake in Preferred Bank by 4.7% in the fourth quarter. Royce & Associates LP now owns 24,823 shares of the bank’s stock worth $2,144,000 after acquiring an additional 1,117 shares during the period. Picton Mahoney Asset Management grew its holdings in Preferred Bank by 110.7% during the 4th quarter. Picton Mahoney Asset Management now owns 550 shares of the bank’s stock worth $47,000 after acquiring an additional 289 shares in the last quarter. Amundi increased its position in Preferred Bank by 191.3% during the 4th quarter. Amundi now owns 5,993 shares of the bank’s stock valued at $511,000 after purchasing an additional 3,936 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Preferred Bank by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 434,590 shares of the bank’s stock valued at $37,540,000 after purchasing an additional 18,868 shares in the last quarter. 72.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PFBC has been the topic of a number of recent research reports. DA Davidson increased their price objective on shares of Preferred Bank from $98.00 to $101.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Stephens restated an “equal weight” rating and set a $100.00 target price on shares of Preferred Bank in a report on Thursday, January 30th. Finally, Piper Sandler lifted their price target on Preferred Bank from $101.00 to $111.00 and gave the company an “overweight” rating in a report on Friday, January 31st.

Preferred Bank Stock Performance

PFBC stock opened at $83.98 on Friday. Preferred Bank has a one year low of $70.99 and a one year high of $99.78. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 8.72 and a beta of 0.93. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a 50-day simple moving average of $87.10 and a two-hundred day simple moving average of $86.78.

Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Monday, January 27th. The bank reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.17). Preferred Bank had a net margin of 25.00% and a return on equity of 17.80%. On average, equities analysts forecast that Preferred Bank will post 9.81 EPS for the current fiscal year.

Preferred Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a $0.75 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.57%. Preferred Bank’s payout ratio is 31.15%.

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.