Public Sector Pension Investment Board Increases Stake in Preferred Bank $PFBC

Public Sector Pension Investment Board boosted its stake in Preferred Bank (NASDAQ:PFBC) by 10.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 56,368 shares of the bank’s stock after buying an additional 5,512 shares during the quarter. Public Sector Pension Investment Board’s holdings in Preferred Bank were worth $5,095,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in shares of Preferred Bank by 1,224.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 331 shares of the bank’s stock worth $29,000 after acquiring an additional 306 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Preferred Bank by 350.7% in the second quarter. NewEdge Advisors LLC now owns 1,316 shares of the bank’s stock worth $114,000 after purchasing an additional 1,024 shares in the last quarter. Rexford Capital Inc. purchased a new position in Preferred Bank during the second quarter valued at $128,000. Dynamic Technology Lab Private Ltd purchased a new position in Preferred Bank during the second quarter valued at $212,000. Finally, Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Preferred Bank by 12.5% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 2,831 shares of the bank’s stock valued at $245,000 after buying an additional 314 shares in the last quarter. 72.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PFBC shares. Zacks Research lowered shares of Preferred Bank from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 26th. Weiss Ratings restated a “buy (b)” rating on shares of Preferred Bank in a report on Monday, December 29th. Stephens reiterated a “positive” rating on shares of Preferred Bank in a report on Monday, January 26th. Finally, Piper Sandler dropped their price target on Preferred Bank from $121.00 to $111.00 and set an “overweight” rating on the stock in a research report on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $102.67.

Preferred Bank Stock Down 0.0%

NASDAQ:PFBC opened at $92.14 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $1.33 billion, a P/E ratio of 8.88 and a beta of 0.65. Preferred Bank has a fifty-two week low of $71.90 and a fifty-two week high of $103.05. The firm has a 50-day simple moving average of $93.95 and a two-hundred day simple moving average of $92.83.

Preferred Bank (NASDAQ:PFBC) last issued its earnings results on Thursday, January 22nd. The bank reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.01. Preferred Bank had a net margin of 26.41% and a return on equity of 17.31%. The firm had revenue of $78.07 million for the quarter, compared to the consensus estimate of $74.54 million. Analysts predict that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Preferred Bank Dividend Announcement

The firm also recently announced an annual dividend, which was paid on Tuesday, January 20th. Shareholders of record on Tuesday, January 6th were paid a dividend of $3.20 per share. This represents a yield of 336.0%. The ex-dividend date was Tuesday, January 6th. Preferred Bank’s dividend payout ratio (DPR) is currently 30.83%.

Preferred Bank Company Profile

Preferred Bank (NASDAQ: PFBC) is a California-chartered commercial bank headquartered in Los Angeles. The institution offers a full range of banking products and services to businesses and individuals, with a particular emphasis on commercial real estate lending, business banking, treasury management and deposit accounts. Preferred Bank operates through branch offices across Southern California and national loan production offices in major U.S. markets.

The bank’s core lending portfolio focuses on commercial real estate acquisition, development and investment properties.