Gallacher Capital Management LLC Sells 1,945 Shares of Preferred Bank (NASDAQ:PFBC)

Gallacher Capital Management LLC lowered its holdings in Preferred Bank (NASDAQ:PFBC) by 27.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,030 shares of the bank’s stock after selling 1,945 shares during the period. Gallacher Capital Management LLC’s holdings in Preferred Bank were worth $386,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC grew its stake in Preferred Bank by 64.5% during the third quarter. AQR Capital Management LLC now owns 69,277 shares of the bank’s stock valued at $4,313,000 after acquiring an additional 27,162 shares in the last quarter. Intrust Bank NA grew its stake in Preferred Bank by 27.2% in the 4th quarter. Intrust Bank NA now owns 6,385 shares of the bank’s stock worth $466,000 after buying an additional 1,365 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Preferred Bank by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 667,256 shares of the bank’s stock worth $48,745,000 after buying an additional 10,259 shares in the last quarter. Victory Capital Management Inc. grew its stake in Preferred Bank by 47.6% in the 4th quarter. Victory Capital Management Inc. now owns 24,901 shares of the bank’s stock worth $1,819,000 after buying an additional 8,036 shares in the last quarter. Finally, Quadrature Capital Ltd grew its stake in Preferred Bank by 96.7% in the 4th quarter. Quadrature Capital Ltd now owns 16,959 shares of the bank’s stock worth $1,236,000 after buying an additional 8,338 shares in the last quarter. Institutional investors own 72.77% of the company’s stock.

Preferred Bank Price Performance

PFBC stock traded up $0.52 during midday trading on Friday, reaching $76.33. The company had a trading volume of 17,541 shares, compared to its average volume of 84,852. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.07 and a quick ratio of 1.07. Preferred Bank has a 1 year low of $57.64 and a 1 year high of $81.13. The company has a market capitalization of $1.10 billion, a P/E ratio of 7.32 and a beta of 0.98. The firm has a 50-day moving average price of $75.70 and a 200-day moving average price of $74.06.

Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. Preferred Bank had a net margin of 28.70% and a return on equity of 21.28%. The business had revenue of $71.57 million during the quarter, compared to analysts’ expectations of $68.60 million. On average, research analysts anticipate that Preferred Bank will post 9.6 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 Friday, July 19th. Stockholders of record on Friday, July 5th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.67%. Preferred Bank’s dividend payout ratio (DPR) is 27.03%.

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 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.