Segall Bryant & Hamill LLC Sells 7,859 Shares of Preferred Bank (NASDAQ:PFBC)

Segall Bryant & Hamill LLC lessened its holdings in Preferred Bank (NASDAQ:PFBC) by 12.9% in the 4th quarter, Holdings Channel reports. The firm owned 53,007 shares of the bank’s stock after selling 7,859 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Preferred Bank were worth $4,579,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its position in shares of Preferred Bank by 24.0% in the third quarter. JPMorgan Chase & Co. now owns 186,107 shares of the bank’s stock worth $14,935,000 after buying an additional 35,979 shares during the last quarter. Jane Street Group LLC lifted its holdings in Preferred Bank by 43.8% in the 3rd quarter. Jane Street Group LLC now owns 19,879 shares of the bank’s stock worth $1,595,000 after purchasing an additional 6,056 shares during the last quarter. KBC Group NV lifted its holdings in Preferred Bank by 46.2% in the 4th quarter. KBC Group NV now owns 914 shares of the bank’s stock worth $79,000 after purchasing an additional 289 shares during the last quarter. Geode Capital Management LLC boosted its position in Preferred Bank by 3.6% during the third quarter. Geode Capital Management LLC now owns 352,597 shares of the bank’s stock worth $28,300,000 after purchasing an additional 12,283 shares during the period. Finally, New York State Common Retirement Fund grew its holdings in Preferred Bank by 15.5% during the fourth quarter. New York State Common Retirement Fund now owns 26,222 shares of the bank’s stock valued at $2,265,000 after purchasing an additional 3,516 shares during the last quarter. 72.77% of the stock is currently owned by institutional investors.

Preferred Bank Stock Down 0.3 %

PFBC opened at $85.43 on Friday. The business has a 50 day moving average of $87.17 and a 200-day moving average of $86.74. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 8.87 and a beta of 0.93. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. Preferred Bank has a 1-year low of $70.99 and a 1-year high of $99.78.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings results on Monday, January 27th. The bank reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.17). Preferred Bank had a net margin of 25.00% and a return on equity of 17.80%. As a group, sell-side analysts anticipate that Preferred Bank will post 9.81 earnings per share for the current year.

Preferred Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Monday, April 7th. Preferred Bank’s dividend payout ratio (DPR) is presently 31.15%.

Analyst Ratings Changes

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

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.