Preferred Bank (NASDAQ:PFBC) Hits New 12-Month High at $77.93

Preferred Bank (NASDAQ:PFBC)’s share price hit a new 52-week high on Tuesday . The company traded as high as $77.93 and last traded at $77.50, with a volume of 24330 shares. The stock had previously closed at $74.84.

Preferred Bank Trading Up 5.0 %

The company’s fifty day moving average is $73.32 and its 200-day moving average is $69.60. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $1.13 billion, a P/E ratio of 7.11 and a beta of 1.04.

Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings results on Thursday, January 25th. The bank reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.06. The company had revenue of $127.07 million during the quarter, compared to analysts’ expectations 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 company earned $2.71 earnings per share. As a group, sell-side analysts anticipate that Preferred Bank will post 9.13 earnings per share for the current fiscal year.

Preferred Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were issued a dividend of $0.70 per share. The ex-dividend date was Thursday, April 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.56%. Preferred Bank’s dividend payout ratio (DPR) is presently 26.59%.

Institutional Investors Weigh In On Preferred Bank

Several hedge funds and other institutional investors have recently modified their holdings of PFBC. BluePath Capital Management LLC bought a new position in Preferred Bank during the third quarter valued at about $33,000. Gladius Capital Management LP grew its holdings in shares of Preferred Bank by 518.1% during the 4th quarter. Gladius Capital Management LP now owns 445 shares of the bank’s stock worth $33,000 after purchasing an additional 373 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Preferred Bank during the fourth quarter valued at approximately $34,000. AJOVista LLC acquired a new position in shares of Preferred Bank in the fourth quarter valued at $101,000. Finally, Everence Capital Management Inc. bought a new position in Preferred Bank in the fourth quarter worth $213,000. Institutional investors and hedge funds own 72.77% of the company’s stock.

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.