Hsbc Holdings PLC Raises Holdings in Preferred Bank $PFBC

Hsbc Holdings PLC lifted its position in Preferred Bank (NASDAQ:PFBC) by 24.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 144,588 shares of the bank’s stock after purchasing an additional 28,268 shares during the quarter. Hsbc Holdings PLC owned about 1.00% of Preferred Bank worth $13,957,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. WINTON GROUP Ltd boosted its stake in Preferred Bank by 1.1% during the fourth quarter. WINTON GROUP Ltd now owns 14,136 shares of the bank’s stock valued at $1,335,000 after buying an additional 150 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 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 during the last quarter. Royce & Associates LP increased its stake in Preferred Bank by 0.8% in the 4th quarter. Royce & Associates LP now owns 25,200 shares of the bank’s stock worth $2,380,000 after acquiring an additional 202 shares during the last quarter. Horizon Investments LLC raised its holdings in shares of Preferred Bank by 3.5% during the 4th quarter. Horizon Investments LLC now owns 6,231 shares of the bank’s stock worth $583,000 after acquiring an additional 209 shares in the last quarter. Finally, Aquatic Capital Management LLC raised its holdings in shares of Preferred Bank by 6.4% during the 3rd quarter. Aquatic Capital Management LLC now owns 3,954 shares of the bank’s stock worth $357,000 after acquiring an additional 238 shares in the last quarter. 72.77% of the stock is currently owned by hedge funds and other institutional investors.

Preferred Bank Trading Up 0.8%

Shares of PFBC stock opened at $104.74 on Friday. Preferred Bank has a 1 year low of $81.50 and a 1 year high of $104.85. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.07 and a quick ratio of 1.06. The stock’s 50 day simple moving average is $96.09 and its two-hundred day simple moving average is $93.78. The company has a market cap of $1.51 billion, a PE ratio of 9.81 and a beta of 0.56.

Preferred Bank (NASDAQ:PFBC) last announced its earnings results on Wednesday, April 22nd. The bank reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.05. The firm had revenue of $69.62 million during the quarter, compared to analysts’ expectations of $71.76 million. Preferred Bank had a return on equity of 17.52% and a net margin of 26.49%. Research analysts predict that Preferred Bank will post 10.67 earnings per share for the current year.

Preferred Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th will be given a $0.80 dividend. The ex-dividend date is Tuesday, July 7th. This represents a $3.20 dividend on an annualized basis and a yield of 3.1%. Preferred Bank’s dividend payout ratio (DPR) is currently 29.96%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Weiss Ratings raised shares of Preferred Bank from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Piper Sandler upped their price target on shares of Preferred Bank from $105.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Preferred Bank has an average rating of “Hold” and a consensus target price of $102.00.

About Preferred Bank

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.