Intrust Bank NA Purchases 1,404 Shares of Preferred Bank (NASDAQ:PFBC)

Intrust Bank NA grew its position in Preferred Bank (NASDAQ:PFBC) by 18.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,835 shares of the bank’s stock after buying an additional 1,404 shares during the quarter. Intrust Bank NA owned 0.06% of Preferred Bank worth $763,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PFBC. JPMorgan Chase & Co. increased its stake in shares of Preferred Bank by 1.7% during the fourth quarter. JPMorgan Chase & Co. now owns 189,196 shares of the bank’s stock valued at $16,343,000 after buying an additional 3,089 shares during the period. Prudential Financial Inc. increased its position in Preferred Bank by 13.0% during the 4th quarter. Prudential Financial Inc. now owns 14,387 shares of the bank’s stock valued at $1,243,000 after purchasing an additional 1,650 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Preferred Bank during the 4th quarter valued at about $916,000. Sei Investments Co. lifted its position in shares of Preferred Bank by 90.9% in the 4th quarter. Sei Investments Co. now owns 10,237 shares of the bank’s stock worth $884,000 after purchasing an additional 4,875 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Preferred Bank by 44.7% during the fourth quarter. American Century Companies Inc. now owns 199,628 shares of the bank’s stock valued at $17,244,000 after purchasing an additional 61,655 shares in the last quarter. Institutional investors own 72.77% of the company’s stock.

Wall Street Analyst Weigh In

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

Preferred Bank Stock Performance

Shares of PFBC stock opened at $83.98 on Friday. Preferred Bank has a 12-month low of $70.99 and a 12-month high of $99.78. The business’s fifty day simple moving average is $87.10 and its 200-day simple moving average is $86.84. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.21 billion, a PE ratio of 8.72 and a beta of 0.93.

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

Preferred Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Monday, April 7th. Preferred Bank’s payout ratio is currently 31.15%.

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. 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.