XTX Topco Ltd Makes New $229,000 Investment in Preferred Bank (NASDAQ:PFBC)

XTX Topco Ltd bought a new position in Preferred Bank (NASDAQ:PFBC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,027 shares of the bank’s stock, valued at approximately $229,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC lifted its position in Preferred Bank by 96.4% in the 2nd 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 purchased a new stake in Preferred Bank in the 1st quarter worth approximately $118,000. Picton Mahoney Asset Management purchased a new stake in Preferred Bank in the 2nd quarter worth approximately $161,000. Denali Advisors LLC bought a new position in shares of Preferred Bank during the 2nd quarter valued at $249,000. Finally, BOKF NA bought a new position in shares of Preferred Bank during the 1st quarter valued at $296,000. Hedge funds and other institutional investors own 72.77% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Preferred Bank Stock Up 0.2 %

Preferred Bank stock opened at $79.64 on Friday. The company has a market capitalization of $1.15 billion, a P/E ratio of 7.69 and a beta of 0.96. The firm’s fifty day simple moving average is $80.53 and its 200-day simple moving average is $77.37. 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 released its earnings results on Thursday, July 25th. The bank reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.39 by $0.09. The firm had revenue of $130.70 million during the quarter, compared to analyst estimates of $70.55 million. Preferred Bank had a net margin of 27.35% and a return on equity of 20.24%. During the same quarter in the previous year, the business earned $2.61 EPS. Sell-side analysts forecast that Preferred Bank will post 9.61 earnings per share 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. Shareholders of record on Monday, October 7th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Monday, October 7th. Preferred Bank’s dividend payout ratio 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.