Preferred Bank (NASDAQ:PFBC) Sets New 1-Year High at $77.93

Preferred Bank (NASDAQ:PFBC) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $77.93 and last traded at $77.50, with a volume of 24330 shares changing hands. The stock had previously closed at $74.84.

Preferred Bank Price Performance

The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 7.42 and a beta of 1.04. The stock has a fifty day simple moving average of $73.62 and a 200-day simple moving average of $69.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21.

Preferred Bank (NASDAQ:PFBC) last released its 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 firm had revenue of $127.07 million for the quarter, compared to analyst estimates of $72.84 million. Preferred Bank had a return on equity of 21.28% and a net margin of 28.70%. During the same quarter last year, the firm posted $2.71 EPS. As a group, equities research analysts expect that Preferred Bank will post 9.13 EPS for the current year.

Preferred Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend was Thursday, April 4th. Preferred Bank’s dividend payout ratio (DPR) is currently 27.03%.

Institutional Trading of Preferred Bank

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PFBC. BluePath Capital Management LLC acquired a new stake in Preferred Bank in the 3rd quarter valued at approximately $33,000. Gladius Capital Management LP lifted its position in shares of Preferred Bank by 518.1% in the 4th quarter. Gladius Capital Management LP now owns 445 shares of the bank’s stock worth $33,000 after acquiring an additional 373 shares during the period. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Preferred Bank in the 4th quarter worth approximately $34,000. AJOVista LLC bought a new stake in shares of Preferred Bank in the 4th quarter worth approximately $101,000. Finally, Everence Capital Management Inc. bought a new stake in shares of Preferred Bank in the 4th quarter worth approximately $213,000. Institutional investors and hedge funds own 72.77% of the company’s stock.

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 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.