Everence Capital Management Inc. Purchases Shares of 2,910 Preferred Bank (NASDAQ:PFBC)

Everence Capital Management Inc. purchased a new stake in shares of Preferred Bank (NASDAQ:PFBC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,910 shares of the bank’s stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Preferred Bank by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 921,337 shares of the bank’s stock worth $60,099,000 after purchasing an additional 16,033 shares in the last quarter. State Street Corp boosted its position in shares of Preferred Bank by 15.9% during the 1st quarter. State Street Corp now owns 646,205 shares of the bank’s stock worth $47,877,000 after purchasing an additional 88,699 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Preferred Bank by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 633,844 shares of the bank’s stock worth $34,740,000 after purchasing an additional 24,494 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Preferred Bank by 2.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 424,622 shares of the bank’s stock worth $23,350,000 after purchasing an additional 9,433 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Preferred Bank by 13.4% during the 2nd quarter. Geode Capital Management LLC now owns 294,087 shares of the bank’s stock worth $16,172,000 after purchasing an additional 34,725 shares in the last quarter. Institutional investors own 72.77% of the company’s stock.

Preferred Bank Price Performance

PFBC stock opened at $74.30 on Friday. The stock has a market capitalization of $1.07 billion, a PE ratio of 7.06 and a beta of 1.04. The company’s 50-day moving average is $73.24 and its 200-day moving average is $69.41. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.07 and a quick ratio of 1.07. Preferred Bank has a 1 year low of $42.42 and a 1 year high of $77.65.

Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings data on Thursday, January 25th. The bank reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.06. Preferred Bank had a net margin of 30.93% and a return on equity of 22.30%. The company had revenue of $127.07 million for the quarter, compared to analysts’ expectations of $72.84 million. During the same quarter in the prior year, the firm earned $2.71 EPS. Equities research analysts expect that Preferred Bank will post 9.13 EPS for the current fiscal year.

Preferred Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were issued a $0.70 dividend. The ex-dividend date was Thursday, April 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.77%. Preferred Bank’s dividend payout ratio is presently 26.59%.

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 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.