Cubist Systematic Strategies LLC Increases Stake in Preferred Bank (NASDAQ:PFBC)

Cubist Systematic Strategies LLC boosted its position in shares of Preferred Bank (NASDAQ:PFBC) by 342.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 14,877 shares of the bank’s stock after purchasing an additional 11,512 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Preferred Bank were worth $1,285,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. KBC Group NV grew its position in Preferred Bank by 46.2% during the 4th quarter. KBC Group NV now owns 914 shares of the bank’s stock valued at $79,000 after purchasing an additional 289 shares during the last quarter. New York State Common Retirement Fund grew its position in Preferred Bank by 15.5% during the 4th quarter. New York State Common Retirement Fund now owns 26,222 shares of the bank’s stock valued at $2,265,000 after purchasing an additional 3,516 shares during the last quarter. Wells Fargo & Company MN grew its position in Preferred Bank by 25.4% during the 4th quarter. Wells Fargo & Company MN now owns 7,848 shares of the bank’s stock valued at $678,000 after purchasing an additional 1,588 shares during the last quarter. SG Americas Securities LLC grew its position in Preferred Bank by 59.6% during the 4th quarter. SG Americas Securities LLC now owns 5,845 shares of the bank’s stock valued at $505,000 after purchasing an additional 2,183 shares during the last quarter. Finally, Barclays PLC grew its position in Preferred Bank by 70.9% during the 3rd quarter. Barclays PLC now owns 27,430 shares of the bank’s stock valued at $2,201,000 after purchasing an additional 11,379 shares during the last quarter. 72.77% of the stock is owned by hedge funds and other institutional investors.

Preferred Bank Stock Performance

PFBC opened at $85.86 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 8.92 and a beta of 0.69. The company’s 50 day moving average is $81.52 and its 200 day moving average is $86.72. Preferred Bank has a 12-month low of $71.43 and a 12-month high of $99.78.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings data on Friday, April 25th. The bank reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.10). The business had revenue of $65.96 million during the quarter, compared to analysts’ expectations of $70.78 million. Preferred Bank had a return on equity of 17.80% and a net margin of 25.00%. During the same period in the previous year, the business posted $2.44 EPS. On average, equities research analysts predict that Preferred Bank will post 9.81 EPS for the current year.

Preferred Bank Dividend Announcement

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

Analysts Set New Price Targets

PFBC has been the topic of several recent analyst reports. Stephens reissued an “equal weight” rating and set a $91.00 price objective on shares of Preferred Bank in a research report on Tuesday, April 29th. DA Davidson dropped their price target on shares of Preferred Bank from $95.00 to $90.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Finally, Piper Sandler dropped their price target on shares of Preferred Bank from $108.00 to $96.00 and set an “overweight” rating on the stock in a report on Tuesday, April 29th.

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.