1 week Ago By ABMN Staff
Arrowstreet Capital Limited Partnership lowered its position in Preferred Bank ( NASDAQ:PFBC – Free Report ) by 58.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,542 shares of the bank’s stock after selling 21,890 shares during the quarter.
Arrowstreet Capital Limited Partnership owned about 0.11% of Preferred Bank worth $1,343,000 at the end of the most recent reporting period. Several other hedge funds and other institutional investors have also recently bought and sold shares of the company.
FMR LLC grew its stake in shares of Preferred Bank by 4.2% in the 3rd quarter. FMR LLC now owns 6,674 shares of the bank’s stock valued at $536,000 after buying an additional 271 shares during the period.
KBC Group NV grew its position in Preferred Bank by 46.2% in the fourth quarter. KBC Group NV now owns 914 shares of the bank’s stock worth $79,000 after acquiring an additional 289 shares during the period.
Picton Mahoney Asset Management grew its position in Preferred Bank by 110.7% in the fourth quarter. Picton Mahoney Asset Management now owns 550 shares of the bank’s stock worth $47,000 after acquiring an additional 289 shares during the period.
Exchange Traded Concepts LLC increased its stake in Preferred Bank by 2.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 16,272 shares of the bank’s stock worth $1,406,000 after acquiring an additional 334 shares during the last quarter.
Finally, Smartleaf Asset Management LLC raised its position in Preferred Bank by 217.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 562 shares of the bank’s stock valued at $49,000 after purchasing an additional 385 shares during the period.
72.77% of the stock is currently owned by institutional investors and hedge funds. Preferred Bank Trading Up 0.
2 % Shares of NASDAQ PFBC opened at $76.31 on Friday. The company has a current ratio of 1.
08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19.
The stock has a market capitalization of $1.10 billion, a PE ratio of 7.92 and a beta of 0.
71. Preferred Bank has a twelve month low of $70.99 and a twelve month high of $99.
78. The stock has a fifty day simple moving average of $84.73 and a 200-day simple moving average of $86.
66. Preferred Bank Announces Dividend The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be paid a dividend of $0.
75 per share. This represents a $3.00 annualized dividend and a yield of 3.
93%. The ex-dividend date is Monday, April 7th. Preferred Bank’s payout ratio is currently 31.
15%. Analyst Upgrades and Downgrades A number of research firms have recently weighed in on PFBC. Stephens reissued an “equal weight” rating and set a $100.
00 price objective on shares of Preferred Bank in a research report on Thursday, January 30th. Piper Sandler increased their target price on shares of Preferred Bank from $101.00 to $111.
00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, DA Davidson boosted their price target on shares of Preferred Bank from $98.00 to $101.
00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. View Our Latest Stock Report on PFBC Preferred Bank Company Profile ( Free Report ) 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.
Featured Stories Want to see what other hedge funds are holding PFBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Preferred Bank ( NASDAQ:PFBC – Free Report ). Receive News & Ratings for Preferred Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Preferred Bank and related companies with MarketBeat.
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