Preferred Bank (NASDAQ:PFBC) Shares Bought by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. increased its stake in shares of Preferred Bank (NASDAQ:PFBC) by 41.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,265 shares of the bank’s stock after buying an additional 5,948 shares during the period. Goldman Sachs Group Inc.’s holdings in Preferred Bank were worth $1,087,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. US Bancorp DE boosted its position in shares of Preferred Bank by 14.5% in the first quarter. US Bancorp DE now owns 3,402 shares of the bank’s stock worth $183,000 after buying an additional 431 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Preferred Bank by 86.9% in the first quarter. SG Americas Securities LLC now owns 3,726 shares of the bank’s stock worth $200,000 after buying an additional 1,732 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new position in shares of Preferred Bank during the first quarter worth approximately $207,000. Affinity Investment Advisors LLC acquired a new position in shares of Preferred Bank during the first quarter worth approximately $215,000. Finally, Eqis Capital Management Inc. boosted its position in shares of Preferred Bank by 3.8% in the first quarter. Eqis Capital Management Inc. now owns 4,101 shares of the bank’s stock worth $220,000 after buying an additional 149 shares during the last quarter. 75.19% of the stock is owned by institutional investors.
Preferred Bank (NASDAQ PFBC) traded down 1.11% during midday trading on Friday, hitting $53.31. 56,396 shares of the stock traded hands. The firm has a market cap of $764.89 million, a PE ratio of 18.31 and a beta of 0.97. Preferred Bank has a 52-week low of $33.45 and a 52-week high of $58.98. The stock has a 50-day moving average of $55.32 and a 200 day moving average of $53.72.
Preferred Bank (NASDAQ:PFBC) last released its earnings results on Tuesday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.05. Preferred Bank had a net margin of 28.91% and a return on equity of 14.18%. The business had revenue of $32.55 million during the quarter, compared to analyst estimates of $31.78 million. Equities analysts forecast that Preferred Bank will post $3.21 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 7th were issued a dividend of $0.20 per share. This is a positive change from Preferred Bank’s previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, July 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.50%. Preferred Bank’s dividend payout ratio is presently 27.49%.
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A number of equities analysts have commented on the stock. BidaskClub cut shares of Preferred Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Stephens raised shares of Preferred Bank from an “equal weight” rating to an “overweight” rating in a research note on Monday, July 10th. FBR & Co reissued a “buy” rating on shares of Preferred Bank in a research note on Wednesday, July 19th. Zacks Investment Research raised shares of Preferred Bank from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research note on Saturday, June 24th. Finally, ValuEngine raised shares of Preferred Bank from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $45.33.
About Preferred Bank
Preferred Bank is a commercial bank. The Bank provides deposit services, as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals and high net worth individuals. The Bank offers various services, such as personal banking, business banking and treasury management.
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