Preferred Bank (NASDAQ:PFBC) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Preferred Bank (NASDAQ:PFBC) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $83.85 and traded as high as $85.73. Preferred Bank shares last traded at $85.33, with a volume of 82,987 shares trading hands.

Analyst Ratings Changes

Separately, Stephens cut Preferred Bank from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th.

Preferred Bank Stock Down 4.6 %

The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 8.16 and a beta of 0.97. The business’s 50 day moving average is $90.75 and its 200 day moving average is $83.90.

Preferred Bank (NASDAQ:PFBC) last issued its earnings results on Monday, October 21st. The bank reported $2.46 EPS for the quarter, topping the consensus estimate of $2.39 by $0.07. The business had revenue of $132.88 million during the quarter, compared to analysts’ expectations of $68.80 million. Preferred Bank had a return on equity of 19.01% and a net margin of 26.20%. During the same quarter last year, the firm posted $2.71 earnings per share. Equities analysts expect that Preferred Bank will post 9.75 earnings per share for the current year.

Preferred Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Thursday, January 9th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.68%. This is a positive change from Preferred Bank’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, January 10th. Preferred Bank’s dividend payout ratio is 30.06%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in shares of Preferred Bank by 24.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 186,107 shares of the bank’s stock valued at $14,935,000 after acquiring an additional 35,979 shares in the last quarter. Jane Street Group LLC grew its stake in Preferred Bank by 43.8% in the third quarter. Jane Street Group LLC now owns 19,879 shares of the bank’s stock valued at $1,595,000 after purchasing an additional 6,056 shares in the last quarter. Geode Capital Management LLC increased its position in Preferred Bank by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 352,597 shares of the bank’s stock worth $28,300,000 after purchasing an additional 12,283 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Preferred Bank during the 3rd quarter worth about $294,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Preferred Bank by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 415,722 shares of the bank’s stock valued at $33,362,000 after buying an additional 7,086 shares during the last quarter. 72.77% of the stock is owned by hedge funds and other institutional investors.

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.