Texas Permanent School Fund Corp Has $1.12 Million Stock Position in Preferred Bank (NASDAQ:PFBC)

Texas Permanent School Fund Corp lifted its position in Preferred Bank (NASDAQ:PFBC) by 35.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 14,855 shares of the bank’s stock after buying an additional 3,891 shares during the period. Texas Permanent School Fund Corp’s holdings in Preferred Bank were worth $1,121,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PFBC. CWM LLC increased its position in shares of Preferred Bank by 96.4% in the 2nd quarter. CWM LLC now owns 1,043 shares of the bank’s stock valued at $79,000 after buying an additional 512 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Preferred Bank in the 1st quarter valued at $118,000. Picton Mahoney Asset Management bought a new stake in shares of Preferred Bank in the 2nd quarter valued at $161,000. Olympiad Research LP bought a new position in Preferred Bank during the 4th quarter worth about $240,000. Finally, BOKF NA bought a new position in Preferred Bank during the 1st quarter worth about $296,000. Institutional investors own 72.77% of the company’s stock.

Analysts Set New Price Targets

PFBC has been the subject of a number of research reports. Piper Sandler increased their target price on Preferred Bank from $88.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Stephens increased their target price on Preferred Bank from $84.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th.

Preferred Bank Price Performance

PFBC stock opened at $80.95 on Friday. The stock has a 50-day moving average price of $80.89 and a two-hundred day moving average price of $77.18. The stock has a market cap of $1.17 billion, a PE ratio of 7.81 and a beta of 0.96. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. Preferred Bank has a 1 year low of $58.52 and a 1 year high of $91.67.

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

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.