Virtu Financial LLC Makes New $203,000 Investment in Preferred Bank (NASDAQ:PFBC)

Virtu Financial LLC bought a new position in shares of Preferred Bank (NASDAQ:PFBC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,351 shares of the bank’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. FMR LLC lifted its holdings in Preferred Bank by 4.2% during the third quarter. FMR LLC now owns 6,674 shares of the bank’s stock worth $536,000 after acquiring an additional 271 shares during the period. KBC Group NV raised its position in Preferred Bank by 46.2% in the fourth quarter. KBC Group NV now owns 914 shares of the bank’s stock worth $79,000 after acquiring an additional 289 shares during the period. Picton Mahoney Asset Management boosted its stake in Preferred Bank by 110.7% in the fourth quarter. Picton Mahoney Asset Management now owns 550 shares of the bank’s stock valued at $47,000 after acquiring an additional 289 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Preferred Bank by 2.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 16,272 shares of the bank’s stock worth $1,406,000 after purchasing an additional 334 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Preferred Bank by 217.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 562 shares of the bank’s stock worth $49,000 after purchasing an additional 385 shares during the period. Hedge funds and other institutional investors own 72.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. DA Davidson boosted their target price on Preferred Bank from $98.00 to $101.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Piper Sandler lifted their target price on shares of Preferred Bank from $101.00 to $111.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Stephens restated an “equal weight” rating and set a $100.00 price target on shares of Preferred Bank in a research note on Thursday, January 30th.

Preferred Bank Stock Down 1.7 %

Shares of NASDAQ PFBC opened at $83.98 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.21 billion, a P/E ratio of 8.72 and a beta of 0.93. Preferred Bank has a 52 week low of $70.99 and a 52 week high of $99.78. The business has a 50-day simple moving average of $87.10 and a two-hundred day simple moving average of $86.84.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings data on Monday, January 27th. The bank reported $2.25 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.17). Preferred Bank had a net margin of 25.00% and a return on equity of 17.80%. Research analysts anticipate that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Preferred Bank Dividend Announcement

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

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.