Boston Partners Acquires 12,907 Shares of Preferred Bank (NASDAQ:PFBC)

Boston Partners boosted its holdings in shares of Preferred Bank (NASDAQ:PFBC) by 2.5% during the 4th quarter, Holdings Channel reports. The fund owned 530,029 shares of the bank’s stock after buying an additional 12,907 shares during the period. Boston Partners’ holdings in Preferred Bank were worth $45,806,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management grew its holdings in Preferred Bank by 110.7% during the 4th quarter. Picton Mahoney Asset Management now owns 550 shares of the bank’s stock worth $47,000 after acquiring an additional 289 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Preferred Bank by 217.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 562 shares of the bank’s stock worth $49,000 after acquiring an additional 385 shares in the last quarter. R Squared Ltd bought a new stake in shares of Preferred Bank in the 4th quarter valued at about $65,000. KBC Group NV boosted its holdings in shares of Preferred Bank by 46.2% in the 4th quarter. KBC Group NV now owns 914 shares of the bank’s stock valued at $79,000 after buying an additional 289 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Preferred Bank in the 3rd quarter valued at about $76,000. 72.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Piper Sandler raised their price target on shares of Preferred Bank from $101.00 to $111.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Stephens restated an “equal weight” rating and issued a $100.00 price target on shares of Preferred Bank in a report on Thursday, January 30th. Finally, DA Davidson raised their price target on shares of Preferred Bank from $98.00 to $101.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th.

Preferred Bank Stock Performance

Shares of Preferred Bank stock opened at $84.04 on Thursday. The firm has a market capitalization of $1.21 billion, a P/E ratio of 8.73 and a beta of 0.93. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average price of $87.08 and a 200 day moving average price of $86.59. Preferred Bank has a 52 week low of $70.99 and a 52 week high of $99.78.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings data on Monday, January 27th. The bank reported $2.25 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.17). Preferred Bank had a net margin of 25.00% and a return on equity of 17.80%. Sell-side analysts expect that Preferred Bank will post 9.81 EPS for the current year.

Preferred Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.57%. Preferred Bank’s payout ratio is currently 31.15%.

Preferred Bank 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.