Stieven Capital Advisors L.P. Has $10.47 Million Stock Holdings in Preferred Bank $PFBC

Stieven Capital Advisors L.P. increased its position in Preferred Bank (NASDAQ:PFBC) by 9.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 121,021 shares of the bank’s stock after purchasing an additional 10,100 shares during the quarter. Preferred Bank makes up 2.0% of Stieven Capital Advisors L.P.’s portfolio, making the stock its 24th biggest position. Stieven Capital Advisors L.P.’s holdings in Preferred Bank were worth $10,474,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PFBC. CWM LLC boosted its stake in shares of Preferred Bank by 10.7% in the 1st quarter. CWM LLC now owns 2,779 shares of the bank’s stock valued at $232,000 after purchasing an additional 269 shares during the last quarter. Royce & Associates LP lifted its holdings in Preferred Bank by 1.5% in the first quarter. Royce & Associates LP now owns 25,204 shares of the bank’s stock valued at $2,109,000 after buying an additional 381 shares during the period. Corton Capital Inc. bought a new position in Preferred Bank in the first quarter valued at approximately $238,000. Picton Mahoney Asset Management boosted its stake in Preferred Bank by 2,337.8% in the first quarter. Picton Mahoney Asset Management now owns 13,408 shares of the bank’s stock valued at $1,122,000 after acquiring an additional 12,858 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Preferred Bank during the 1st quarter worth $55,000. 72.77% of the stock is owned by institutional investors.

Preferred Bank Trading Down 0.0%

NASDAQ:PFBC opened at $90.70 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.07 and a quick ratio of 1.07. The business’s 50-day simple moving average is $90.87 and its 200-day simple moving average is $89.55. Preferred Bank has a fifty-two week low of $71.90 and a fifty-two week high of $99.78. The stock has a market capitalization of $1.31 billion, a PE ratio of 9.22 and a beta of 0.73.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Monday, October 20th. The bank reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.27. Preferred Bank had a net margin of 25.67% and a return on equity of 16.91%. The firm had revenue of $74.98 million for the quarter, compared to analyst estimates of $72.74 million. During the same quarter in the previous year, the firm posted $2.46 earnings per share. Sell-side analysts expect that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Preferred Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Shareholders of record on Tuesday, October 7th were paid a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, October 7th. This represents a $3.00 annualized dividend and a dividend yield of 3.3%. Preferred Bank’s dividend payout ratio (DPR) is currently 30.49%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PFBC shares. Zacks Research raised Preferred Bank from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Preferred Bank in a report on Friday, October 31st. DA Davidson reduced their target price on Preferred Bank from $108.00 to $104.00 and set a “neutral” rating on the stock in a report on Wednesday, October 22nd. Finally, Piper Sandler boosted their target price on Preferred Bank from $112.00 to $119.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Preferred Bank currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.67.

About Preferred Bank

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.