Preferred Bank (NASDAQ:PFBC) Position Lowered by Janus Henderson Group PLC

Janus Henderson Group PLC reduced its position in Preferred Bank (NASDAQ:PFBC) by 9.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,711 shares of the bank’s stock after selling 1,267 shares during the quarter. Janus Henderson Group PLC owned approximately 0.09% of Preferred Bank worth $1,020,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. SummerHaven Investment Management LLC increased its holdings in shares of Preferred Bank by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 12,846 shares of the bank’s stock valued at $970,000 after acquiring an additional 201 shares during the last quarter. WINTON GROUP Ltd boosted its holdings in Preferred Bank by 1.7% in the second quarter. WINTON GROUP Ltd now owns 13,970 shares of the bank’s stock worth $1,055,000 after purchasing an additional 232 shares during the period. FMR LLC boosted its holdings in Preferred Bank by 4.2% in the third quarter. FMR LLC now owns 6,674 shares of the bank’s stock worth $536,000 after purchasing an additional 271 shares during the period. Federated Hermes Inc. increased its stake in Preferred Bank by 0.9% during the second quarter. Federated Hermes Inc. now owns 30,228 shares of the bank’s stock valued at $2,282,000 after purchasing an additional 274 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Preferred Bank by 6.7% during the second quarter. Sei Investments Co. now owns 5,137 shares of the bank’s stock worth $388,000 after purchasing an additional 323 shares during the period. Institutional investors and hedge funds own 72.77% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stephens lowered shares of Preferred Bank from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th.

Preferred Bank Stock Down 0.5 %

Shares of Preferred Bank stock opened at $92.35 on Friday. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 9.25 and a beta of 0.96. The business’s 50 day simple moving average is $89.12 and its 200-day simple moving average is $82.06. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.20. Preferred Bank has a twelve month low of $66.88 and a twelve month high of $99.78.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Monday, October 21st. The bank reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.07. The company had revenue of $132.88 million during the quarter, compared to the consensus estimate of $68.80 million. Preferred Bank had a net margin of 26.20% and a return on equity of 19.01%. During the same quarter in the previous year, the company posted $2.71 earnings per share. Equities research analysts forecast that Preferred Bank will post 9.75 earnings per share for the current year.

Preferred Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Monday, October 7th. Preferred Bank’s dividend payout ratio (DPR) is 28.06%.

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. 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.