State of Alaska Department of Revenue Trims Stake in Preferred Bank (NASDAQ:PFBC)

State of Alaska Department of Revenue reduced its position in Preferred Bank (NASDAQ:PFBC) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,784 shares of the bank’s stock after selling 360 shares during the quarter. State of Alaska Department of Revenue owned 0.05% of Preferred Bank worth $568,000 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. Algert Global LLC purchased a new stake in Preferred Bank in the 3rd quarter worth about $1,081,000. Victory Capital Management Inc. raised its position in Preferred Bank by 205.2% in the 3rd quarter. Victory Capital Management Inc. now owns 16,865 shares of the bank’s stock worth $1,050,000 after purchasing an additional 11,340 shares during the period. AQR Capital Management LLC raised its position in Preferred Bank by 64.5% in the 3rd quarter. AQR Capital Management LLC now owns 69,277 shares of the bank’s stock worth $4,313,000 after purchasing an additional 27,162 shares during the period. Barclays PLC raised its position in Preferred Bank by 4.1% in the 3rd quarter. Barclays PLC now owns 25,163 shares of the bank’s stock worth $1,566,000 after purchasing an additional 990 shares during the period. Finally, Yousif Capital Management LLC grew its stake in Preferred Bank by 2.9% in the 3rd quarter. Yousif Capital Management LLC now owns 7,149 shares of the bank’s stock worth $445,000 after acquiring an additional 200 shares in the last quarter. 72.77% of the stock is owned by hedge funds and other institutional investors.

Preferred Bank Price Performance

Shares of PFBC stock opened at $73.59 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $1.06 billion, a P/E ratio of 6.99 and a beta of 1.04. The company’s 50-day simple moving average is $72.81 and its two-hundred day simple moving average is $68.96. Preferred Bank has a one year low of $42.42 and a one year high of $77.65.

Preferred Bank (NASDAQ:PFBC) last issued its earnings results on Thursday, January 25th. The bank reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.06. The business had revenue of $127.07 million for the quarter, compared to the consensus estimate of $72.84 million. Preferred Bank had a net margin of 30.93% and a return on equity of 22.30%. During the same period in the prior year, the firm earned $2.71 EPS. As a group, equities analysts anticipate that Preferred Bank will post 9.13 EPS for the current year.

Preferred Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 19th. Shareholders of record on Friday, April 5th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.80 dividend on an annualized basis and a yield of 3.80%. Preferred Bank’s dividend payout ratio is currently 26.59%.

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.