Preferred Bank (NASDAQ:PFBC) Stake Raised by Texas Permanent School Fund

Texas Permanent School Fund grew its holdings in shares of Preferred Bank (NASDAQ:PFBCGet Rating) by 2.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,841 shares of the bank’s stock after buying an additional 267 shares during the period. Texas Permanent School Fund owned 0.07% of Preferred Bank worth $669,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its holdings in Preferred Bank by 8.2% during the second quarter. Envestnet Asset Management Inc. now owns 8,952 shares of the bank’s stock worth $609,000 after purchasing an additional 678 shares in the last quarter. Mount Yale Investment Advisors LLC raised its holdings in Preferred Bank by 10.6% during the second quarter. Mount Yale Investment Advisors LLC now owns 3,750 shares of the bank’s stock worth $255,000 after purchasing an additional 360 shares in the last quarter. US Bancorp DE raised its holdings in Preferred Bank by 73.5% during the second quarter. US Bancorp DE now owns 536 shares of the bank’s stock worth $36,000 after purchasing an additional 227 shares in the last quarter. Aptus Capital Advisors LLC raised its holdings in Preferred Bank by 3.8% during the second quarter. Aptus Capital Advisors LLC now owns 44,081 shares of the bank’s stock worth $2,998,000 after purchasing an additional 1,613 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Preferred Bank during the second quarter worth approximately $264,000. Institutional investors own 73.44% of the company’s stock.

Preferred Bank Trading Up 0.5 %

Preferred Bank stock opened at $74.68 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 9.56 and a beta of 1.16. Preferred Bank has a 1 year low of $62.02 and a 1 year high of $81.97. The firm’s 50 day moving average price is $70.84 and its two-hundred day moving average price is $69.66.

Preferred Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 21st. Shareholders of record on Friday, October 7th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.30%. The ex-dividend date was Thursday, October 6th. Preferred Bank’s payout ratio is 22.02%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PFBC. StockNews.com cut Preferred Bank from a “buy” rating to a “hold” rating in a report on Tuesday. DA Davidson lifted their price target on shares of Preferred Bank to $82.00 in a research report on Thursday, October 27th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.20.

Preferred Bank Company Profile

(Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for Preferred Bank (NASDAQ:PFBC)

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