Cubist Systematic Strategies LLC Purchases 11,512 Shares of Preferred Bank (NASDAQ:PFBC)

Cubist Systematic Strategies LLC boosted its position in shares of Preferred Bank (NASDAQ:PFBC) by 342.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,877 shares of the bank’s stock after buying an additional 11,512 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.10% of Preferred Bank worth $1,285,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. raised its holdings in Preferred Bank by 0.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,129,287 shares of the bank’s stock valued at $97,548,000 after buying an additional 5,114 shares during the last quarter. Boston Partners raised its holdings in Preferred Bank by 2.5% in the 4th quarter. Boston Partners now owns 530,029 shares of the bank’s stock worth $45,806,000 after purchasing an additional 12,907 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Preferred Bank by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 434,590 shares of the bank’s stock worth $37,540,000 after purchasing an additional 18,868 shares in the last quarter. Geode Capital Management LLC raised its holdings in Preferred Bank by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 360,025 shares of the bank’s stock worth $31,105,000 after purchasing an additional 7,428 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in Preferred Bank by 11.9% in the 4th quarter. Hsbc Holdings PLC now owns 261,130 shares of the bank’s stock worth $22,815,000 after purchasing an additional 27,760 shares in the last quarter. 72.77% of the stock is currently owned by institutional investors.

Preferred Bank Stock Up 0.4%

Shares of Preferred Bank stock opened at $85.86 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.08 and a quick ratio of 1.08. The company has a 50-day moving average of $81.52 and a 200 day moving average of $86.72. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 8.92 and a beta of 0.69. Preferred Bank has a 1 year low of $71.43 and a 1 year high of $99.78.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings results on Friday, April 25th. The bank reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.33 by ($0.10). The business had revenue of $65.96 million during the quarter, compared to the consensus estimate of $70.78 million. Preferred Bank had a return on equity of 17.80% and a net margin of 25.00%. During the same quarter in the previous year, the business earned $2.44 earnings per share. As a group, sell-side analysts anticipate that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Preferred Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were paid a $0.75 dividend. The ex-dividend date of this dividend was Monday, April 7th. This represents a $3.00 annualized dividend and a dividend yield of 3.49%. Preferred Bank’s payout ratio is 31.85%.

Analyst Ratings Changes

Several research analysts have commented on PFBC shares. Piper Sandler decreased their price objective on shares of Preferred Bank from $108.00 to $96.00 and set an “overweight” rating for the company in a report on Tuesday, April 29th. Stephens restated an “equal weight” rating and issued a $91.00 price objective on shares of Preferred Bank in a report on Tuesday, April 29th. Finally, DA Davidson decreased their price objective on shares of Preferred Bank from $95.00 to $90.00 and set a “neutral” rating for the company in a report on Monday, April 28th.

About Preferred Bank

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.