Yousif Capital Management LLC Trims Position in Preferred Bank $PFBC

Yousif Capital Management LLC decreased its holdings in shares of Preferred Bank (NASDAQ:PFBC) by 4.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,343 shares of the bank’s stock after selling 225 shares during the period. Yousif Capital Management LLC’s holdings in Preferred Bank were worth $376,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Preferred Bank by 14.9% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,978 shares of the bank’s stock valued at $431,000 after acquiring an additional 646 shares during the last quarter. Copeland Capital Management LLC raised its stake in shares of Preferred Bank by 16.2% during the second quarter. Copeland Capital Management LLC now owns 845 shares of the bank’s stock worth $73,000 after purchasing an additional 118 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Preferred Bank by 9.9% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,110 shares of the bank’s stock worth $962,000 after purchasing an additional 1,004 shares during the period. SummerHaven Investment Management LLC grew its position in Preferred Bank by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 10,582 shares of the bank’s stock valued at $916,000 after buying an additional 170 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Preferred Bank in the 2nd quarter valued at $225,000. Institutional investors and hedge funds own 72.77% of the company’s stock.

Preferred Bank Trading Down 1.3%

Shares of PFBC opened at $91.80 on Friday. Preferred Bank has a twelve month low of $71.90 and a twelve month high of $99.78. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $1.32 billion, a P/E ratio of 9.33 and a beta of 0.71. The firm’s 50-day moving average is $91.88 and its two-hundred day moving average is $87.92.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings results on Monday, October 20th. The bank reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.27. The company had revenue of $74.98 million during the quarter, compared to the consensus estimate of $72.74 million. Preferred Bank had a net margin of 25.67% and a return on equity of 16.91%. During the same period last year, the firm earned $2.46 EPS. On average, research analysts predict that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Preferred Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Tuesday, October 7th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, October 7th. This represents a $3.00 annualized dividend and a yield of 3.3%. Preferred Bank’s payout ratio is currently 30.49%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. DA Davidson cut their price objective on shares of Preferred Bank from $108.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday. Weiss Ratings reissued a “buy (b)” rating on shares of Preferred Bank in a report on Wednesday, October 8th. Finally, Piper Sandler lifted their price objective on Preferred Bank from $112.00 to $119.00 and gave the company an “overweight” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $104.67.

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.