Jackson Creek Investment Advisors LLC Purchases Shares of 18,574 Preferred Bank $PFBC

Jackson Creek Investment Advisors LLC purchased a new stake in shares of Preferred Bank (NASDAQ:PFBC) during the fourth quarter, Holdings Channel reports. The fund purchased 18,574 shares of the bank’s stock, valued at approximately $1,754,000.

A number of other institutional investors have also bought and sold shares of the company. Amalgamated Bank boosted its position in Preferred Bank by 3.5% during the third quarter. Amalgamated Bank now owns 3,452 shares of the bank’s stock valued at $312,000 after acquiring an additional 116 shares during 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 acquiring an additional 202 shares during the last quarter. Royce & Associates LP boosted its position in Preferred Bank by 0.8% during the fourth quarter. Royce & Associates LP now owns 25,200 shares of the bank’s stock valued at $2,380,000 after acquiring an additional 202 shares during the last quarter. Horizon Investments LLC boosted its position in Preferred Bank by 3.5% during the fourth quarter. Horizon Investments LLC now owns 6,231 shares of the bank’s stock valued at $583,000 after acquiring an additional 209 shares during the last quarter. Finally, Aquatic Capital Management LLC boosted its position in Preferred Bank by 6.4% during the third quarter. Aquatic Capital Management LLC now owns 3,954 shares of the bank’s stock valued at $357,000 after acquiring an additional 238 shares during the last quarter. Institutional investors own 72.77% of the company’s stock.

Preferred Bank Price Performance

PFBC stock opened at $94.86 on Wednesday. The stock has a market capitalization of $1.37 billion, a PE ratio of 8.88 and a beta of 0.56. The company’s 50-day moving average is $92.63 and its 200-day moving average is $92.88. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.07 and a quick ratio of 1.06. Preferred Bank has a 1 year low of $79.60 and a 1 year high of $103.05.

Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Wednesday, April 22nd. The bank reported $2.53 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.05. Preferred Bank had a net margin of 26.49% and a return on equity of 17.52%. The company had revenue of $69.62 million for the quarter, compared to analyst estimates of $71.76 million. Equities research analysts expect that Preferred Bank will post 10.58 EPS for the current fiscal year.

Preferred Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 21st. Shareholders of record on Tuesday, April 7th were paid a $0.80 dividend. The ex-dividend date was Tuesday, April 7th. This represents a $3.20 annualized dividend and a yield of 3.4%. Preferred Bank’s dividend payout ratio (DPR) is 29.96%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Piper Sandler upped their price target on shares of Preferred Bank from $105.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Brean Capital cut shares of Preferred Bank from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Janney Montgomery Scott initiated coverage on shares of Preferred Bank in a research report on Tuesday, February 24th. They set a “neutral” rating and a $100.00 price objective on the stock. Finally, Weiss Ratings cut shares of Preferred Bank from a “buy (b)” rating to a “hold (c+)” rating in a research report on Friday, May 15th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $102.00.

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.