WINTON GROUP Ltd Acquires 232 Shares of Preferred Bank (NASDAQ:PFBC)

WINTON GROUP Ltd raised its holdings in Preferred Bank (NASDAQ:PFBC) by 1.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 13,970 shares of the bank’s stock after buying an additional 232 shares during the quarter. WINTON GROUP Ltd’s holdings in Preferred Bank were worth $1,055,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Federated Hermes Inc. boosted its holdings in Preferred Bank by 0.9% in the second quarter. Federated Hermes Inc. now owns 30,228 shares of the bank’s stock valued at $2,282,000 after acquiring an additional 274 shares in the last quarter. BOKF NA lifted its position in shares of Preferred Bank by 87.7% in the 2nd quarter. BOKF NA now owns 7,290 shares of the bank’s stock worth $550,000 after purchasing an additional 3,406 shares during the period. Jupiter Asset Management Ltd. bought a new stake in shares of Preferred Bank during the 2nd quarter valued at about $408,000. ClariVest Asset Management LLC increased its position in shares of Preferred Bank by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 18,308 shares of the bank’s stock valued at $1,382,000 after buying an additional 512 shares during the period. Finally, Texas Permanent School Fund Corp raised its stake in Preferred Bank by 35.5% in the second quarter. Texas Permanent School Fund Corp now owns 14,855 shares of the bank’s stock worth $1,121,000 after buying an additional 3,891 shares in the last quarter. 72.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on PFBC. Piper Sandler lifted their price objective on Preferred Bank from $88.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Stephens raised their target price on Preferred Bank from $84.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th.

Preferred Bank Stock Up 2.4 %

Shares of Preferred Bank stock opened at $79.78 on Monday. Preferred Bank has a 1 year low of $58.52 and a 1 year high of $91.67. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 7.70 and a beta of 0.96. The company has a 50-day moving average of $80.23 and a 200 day moving average of $76.93. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.07 and a quick ratio of 1.07.

Preferred Bank (NASDAQ:PFBC) last announced its earnings results on Thursday, July 25th. The bank reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.39 by $0.09. Preferred Bank had a net margin of 27.35% and a return on equity of 20.24%. The business had revenue of $130.70 million during the quarter, compared to the consensus estimate of $70.55 million. During the same quarter last year, the firm earned $2.61 earnings per share. As a group, sell-side analysts anticipate that Preferred Bank will post 9.61 earnings per share for the current fiscal year.

Preferred Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date was Friday, July 5th. Preferred Bank’s 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.