Sei Investments Co. Acquires 6,919 Shares of Preferred Bank $PFBC

Sei Investments Co. lifted its holdings in shares of Preferred Bank (NASDAQ:PFBC) by 46.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,975 shares of the bank’s stock after buying an additional 6,919 shares during the period. Sei Investments Co.’s holdings in Preferred Bank were worth $1,993,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PFBC. WINTON GROUP Ltd increased its position in shares of Preferred Bank by 1.1% in the fourth quarter. WINTON GROUP Ltd now owns 14,136 shares of the bank’s stock valued at $1,335,000 after acquiring an additional 150 shares during the last quarter. Royce & Associates LP raised its holdings in Preferred Bank by 0.8% during the fourth quarter. Royce & Associates LP now owns 25,200 shares of the bank’s stock worth $2,380,000 after acquiring an additional 202 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Preferred Bank by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,266 shares of the bank’s stock valued at $608,000 after purchasing an additional 202 shares during the last quarter. Horizon Investments LLC grew its stake in Preferred Bank by 3.5% in the fourth quarter. Horizon Investments LLC now owns 6,231 shares of the bank’s stock valued at $583,000 after purchasing an additional 209 shares in the last quarter. Finally, Aquatic Capital Management LLC grew its stake in Preferred Bank by 6.4% in the third quarter. Aquatic Capital Management LLC now owns 3,954 shares of the bank’s stock valued at $357,000 after purchasing an additional 238 shares in the last quarter. Institutional investors own 72.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PFBC shares. Stephens upped their price objective on Preferred Bank from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Piper Sandler raised their target price on shares of Preferred Bank from $105.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Finally, Weiss Ratings upgraded shares of Preferred Bank from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $106.25.

Preferred Bank Price Performance

NASDAQ:PFBC opened at $105.76 on Monday. Preferred Bank has a one year low of $81.50 and a one year high of $112.26. The company has a market cap of $1.53 billion, a P/E ratio of 9.67 and a beta of 0.56. The firm’s fifty day moving average price is $103.22 and its two-hundred day moving average price is $95.54. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.08 and a quick ratio of 1.08.

Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Wednesday, July 22nd. The bank reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.13. The company had revenue of $73.47 million during the quarter, compared to analysts’ expectations of $73.60 million. Preferred Bank had a net margin of 26.54% and a return on equity of 17.27%. Equities analysts expect that Preferred Bank will post 10.71 earnings per share for the current year.

Preferred Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th were given a dividend of $0.80 per share. The ex-dividend date was Tuesday, July 7th. This represents a $3.20 annualized dividend and a yield of 3.0%. Preferred Bank’s dividend payout ratio (DPR) is 29.25%.

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.