Royce & Associates LP Takes $308,000 Position in Preferred Bank (NASDAQ:PFBC)

Royce & Associates LP purchased a new position in Preferred Bank (NASDAQ:PFBC) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,851 shares of the bank’s stock, valued at approximately $308,000.

Several other large investors also recently modified their holdings of PFBC. Capital Impact Advisors LLC lifted its position in shares of Preferred Bank by 13.1% during the 4th quarter. Capital Impact Advisors LLC now owns 33,915 shares of the bank’s stock valued at $1,473,000 after buying an additional 3,917 shares in the last quarter. Oregon Public Employees Retirement Fund acquired a new position in Preferred Bank during the 4th quarter worth approximately $230,000. New York State Common Retirement Fund grew its holdings in shares of Preferred Bank by 18.6% in the 4th quarter. New York State Common Retirement Fund now owns 34,202 shares of the bank’s stock worth $1,483,000 after acquiring an additional 5,364 shares during the period. BNP Paribas Arbitrage SA lifted its stake in Preferred Bank by 72,425.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,901 shares of the bank’s stock valued at $130,000 after buying an additional 2,897 shares in the last quarter. Finally, Boston Partners raised its position in shares of Preferred Bank by 2.1% in the 1st quarter. Boston Partners now owns 418,210 shares of the bank’s stock worth $18,807,000 after buying an additional 8,683 shares during the period. Hedge funds and other institutional investors own 77.39% of the company’s stock.

Several research firms have recently issued reports on PFBC. Zacks Investment Research downgraded shares of Preferred Bank from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. BidaskClub raised Preferred Bank from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. DA Davidson lowered Preferred Bank from a “buy” rating to a “neutral” rating and cut their price objective for the company from $60.00 to $52.00 in a report on Wednesday, June 5th. FIG Partners reiterated an “outperform” rating on shares of Preferred Bank in a research report on Friday, April 12th. Finally, ValuEngine raised Preferred Bank from a “strong sell” rating to a “sell” rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $56.80.

Shares of PFBC traded up $0.73 during trading hours on Monday, hitting $47.98. The stock had a trading volume of 51,344 shares, compared to its average volume of 70,003. Preferred Bank has a 12-month low of $39.87 and a 12-month high of $69.48. The company has a market capitalization of $722.10 million, a price-to-earnings ratio of 10.55, a P/E/G ratio of 0.91 and a beta of 1.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a fifty day simple moving average of $46.25.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Wednesday, April 17th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.06. Preferred Bank had a return on equity of 17.82% and a net margin of 33.75%. The firm had revenue of $42.77 million during the quarter, compared to the consensus estimate of $42.96 million. As a group, sell-side analysts expect that Preferred Bank will post 5.21 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.20 dividend on an annualized basis and a yield of 2.50%. Preferred Bank’s dividend payout ratio (DPR) is 26.37%.

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 in the United States. The company's deposit products include checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.

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Institutional Ownership by Quarter for Preferred Bank (NASDAQ:PFBC)

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