Hsbc Holdings PLC Has $13.96 Million Stock Holdings in Preferred Bank $PFBC

Hsbc Holdings PLC grew its holdings in shares of Preferred Bank (NASDAQ:PFBC) by 24.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,588 shares of the bank’s stock after buying an additional 28,268 shares during the quarter. Hsbc Holdings PLC owned 1.00% of Preferred Bank worth $13,957,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Preferred Bank by 675.6% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 24,417 shares of the bank’s stock worth $2,395,000 after acquiring an additional 21,269 shares during the last quarter. Tudor Investment Corp ET AL raised its holdings in shares of Preferred Bank by 65.0% in the third quarter. Tudor Investment Corp ET AL now owns 27,921 shares of the bank’s stock valued at $2,524,000 after purchasing an additional 10,998 shares during the last quarter. Denali Advisors LLC raised its holdings in shares of Preferred Bank by 48.0% in the fourth quarter. Denali Advisors LLC now owns 50,600 shares of the bank’s stock valued at $4,778,000 after purchasing an additional 16,400 shares during the last quarter. Jackson Creek Investment Advisors LLC bought a new position in shares of Preferred Bank during the fourth quarter valued at about $1,754,000. Finally, Azora Capital LP bought a new position in shares of Preferred Bank during the fourth quarter valued at about $3,105,000. 72.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on PFBC. Piper Sandler boosted their price objective on Preferred Bank from $105.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Weiss Ratings raised Preferred Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $102.00.

Preferred Bank Price Performance

PFBC stock opened at $105.22 on Wednesday. The firm has a 50 day moving average of $97.98 and a 200-day moving average of $94.25. The firm has a market capitalization of $1.52 billion, a P/E ratio of 9.85 and a beta of 0.55. Preferred Bank has a 12 month low of $81.50 and a 12 month high of $112.26. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.45.

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

Preferred Bank Announces Dividend

The firm also recently disclosed 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. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Tuesday, July 7th. Preferred Bank’s dividend payout ratio (DPR) is 29.96%.

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.