SG Americas Securities LLC Has $799,000 Holdings in Preferred Bank $PFBC

SG Americas Securities LLC boosted its position in Preferred Bank (NASDAQ:PFBC) by 161.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,838 shares of the bank’s stock after purchasing an additional 5,457 shares during the period. SG Americas Securities LLC’s holdings in Preferred Bank were worth $799,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Preferred Bank by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,266 shares of the bank’s stock worth $608,000 after acquiring an additional 202 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Preferred Bank by 19.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 25,931 shares of the bank’s stock worth $2,169,000 after purchasing an additional 4,158 shares during the period. Jane Street Group LLC grew its stake in Preferred Bank by 81.0% during the first quarter. Jane Street Group LLC now owns 66,428 shares of the bank’s stock worth $5,557,000 after purchasing an additional 29,729 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in Preferred Bank in the second quarter worth approximately $225,000. Finally, SummerHaven Investment Management LLC lifted its stake in Preferred Bank by 1.6% in the second 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 period. Institutional investors own 72.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of Preferred Bank from $112.00 to $119.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Zacks Research lowered shares of Preferred Bank from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 26th. DA Davidson reduced their price target on shares of Preferred Bank from $108.00 to $104.00 and set a “neutral” rating for the company in a report on Wednesday, October 22nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Preferred Bank in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $104.67.

Preferred Bank Stock Performance

NASDAQ PFBC opened at $96.93 on Wednesday. The company has a market cap of $1.40 billion, a P/E ratio of 9.85 and a beta of 0.66. The company has a fifty day simple moving average of $96.00 and a 200 day simple moving average of $93.41. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.47. Preferred Bank has a 12-month low of $71.90 and a 12-month high of $103.05.

Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings data on Monday, October 20th. The bank reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.27. The firm had revenue of $74.98 million for the quarter, compared to analyst estimates 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 earnings per share. Sell-side analysts predict that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Preferred Bank Dividend Announcement

The firm also recently announced an annual dividend, which was paid on Tuesday, January 20th. Investors of record on Tuesday, January 6th were issued a $3.20 dividend. This represents a dividend yield of 336.0%. The ex-dividend date was Tuesday, January 6th. Preferred Bank’s dividend payout ratio is currently 32.52%.

Preferred Bank Company Profile

Preferred Bank (NASDAQ: PFBC) is a California-chartered commercial bank headquartered in Los Angeles. The institution offers a full range of banking products and services to businesses and individuals, with a particular emphasis on commercial real estate lending, business banking, treasury management and deposit accounts. Preferred Bank operates through branch offices across Southern California and national loan production offices in major U.S. markets.

The bank’s core lending portfolio focuses on commercial real estate acquisition, development and investment properties.