Wedge Capital Management L L P NC Has $587,000 Position in Preferred Bank (NASDAQ:PFBC)

Wedge Capital Management L L P NC boosted its holdings in shares of Preferred Bank (NASDAQ:PFBC) by 12.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 8,031 shares of the bank’s stock after acquiring an additional 874 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Preferred Bank were worth $587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of PFBC. AE Wealth Management LLC acquired a new stake in Preferred Bank during the third quarter worth $538,000. SG Americas Securities LLC bought a new position in shares of Preferred Bank in the third quarter valued at about $232,000. Robeco Institutional Asset Management B.V. bought a new stake in Preferred Bank during the 3rd quarter worth about $311,000. BluePath Capital Management LLC bought a new stake in Preferred Bank during the 3rd quarter worth about $33,000. Finally, Yousif Capital Management LLC raised its holdings in Preferred Bank by 2.9% during the 3rd quarter. Yousif Capital Management LLC now owns 7,149 shares of the bank’s stock worth $445,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 72.77% of the company’s stock.

Preferred Bank Stock Performance

Shares of NASDAQ:PFBC opened at $76.45 on Friday. The stock has a market capitalization of $1.10 billion, a P/E ratio of 7.38 and a beta of 1.04. Preferred Bank has a 1-year low of $42.42 and a 1-year high of $79.08. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average price of $73.82 and a two-hundred day moving average price of $69.89.

Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Thursday, January 25th. The bank reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.06. The company had revenue of $127.07 million during the quarter, compared to analyst estimates of $72.84 million. Preferred Bank had a return on equity of 21.28% and a net margin of 28.70%. During the same period in the previous year, the company earned $2.71 EPS. Equities analysts predict that Preferred Bank will post 9.34 earnings per share for the current year.

Preferred Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $2.80 annualized dividend and a dividend yield of 3.66%. Preferred Bank’s payout ratio is currently 27.03%.

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 in the United States. 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.