XTX Topco Ltd Boosts Position in Preferred Bank (NASDAQ:PFBC)

XTX Topco Ltd lifted its holdings in shares of Preferred Bank (NASDAQ:PFBC) by 43.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 8,063 shares of the bank’s stock after purchasing an additional 2,447 shares during the period. XTX Topco Ltd’s holdings in Preferred Bank were worth $696,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management raised its holdings in Preferred Bank by 110.7% in the 4th quarter. Picton Mahoney Asset Management now owns 550 shares of the bank’s stock worth $47,000 after purchasing an additional 289 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Preferred Bank by 217.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 562 shares of the bank’s stock valued at $49,000 after buying an additional 385 shares during the period. R Squared Ltd bought a new position in Preferred Bank in the fourth quarter worth about $65,000. KBC Group NV raised its stake in Preferred Bank by 46.2% in the fourth quarter. KBC Group NV now owns 914 shares of the bank’s stock worth $79,000 after buying an additional 289 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Preferred Bank during the 4th quarter valued at approximately $203,000. Hedge funds and other institutional investors own 72.77% of the company’s stock.

Wall Street Analysts Forecast Growth

PFBC has been the subject of a number of research analyst reports. Piper Sandler raised their target price on Preferred Bank from $101.00 to $111.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Stephens reissued an “equal weight” rating and set a $100.00 price objective on shares of Preferred Bank in a research report on Thursday, January 30th. Finally, DA Davidson upped their target price on shares of Preferred Bank from $98.00 to $101.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th.

Preferred Bank Stock Performance

Shares of PFBC opened at $81.03 on Friday. Preferred Bank has a 52 week low of $71.29 and a 52 week high of $99.78. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.17 billion, a P/E ratio of 8.41 and a beta of 0.71. The business’s 50 day moving average price is $83.76 and its 200-day moving average price is $86.60.

Preferred Bank (NASDAQ:PFBC) last released its earnings results on Monday, January 27th. The bank reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.17). Preferred Bank had a return on equity of 17.80% and a net margin of 25.00%. Equities research analysts anticipate that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Preferred Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a dividend of $0.75 per share. The ex-dividend date is Monday, April 7th. This represents a $3.00 dividend on an annualized basis and a yield of 3.70%. Preferred Bank’s dividend payout ratio is currently 31.15%.

Preferred Bank Company Profile

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.