Company shares are trading at $61.73 which is a tad above $58.22, the 50 day moving average and which is quite a bit above the 200 day moving average of $54.55. The 50 day moving average was up $3.51 or +6.03% and the 200 day average went up by +13.17%. Preferred Bank shares had a trading volume of 59K by the end of trading on Tuesday. Trading volume was down 34.71% under the stocks average daily volume.
Investors are a little more bearish on shares of Preferred Bank of late looking at the motion in short interest. The company had a rise in short interest of 6.07% as of the latest report on October 13, 2017. Short interest grew 27,528 over that timeframe. Days to cover decreased 0.0 to 6.0 and the percentage of shorted shares was 0.03% on October 13.
A few notable investment firms have updated their holdings. As of the end of the quarter Thomson Horstmann & Bryant Inc had sold 9,693 shares trimming its position 13.1%. The value of the investment in Preferred Bank went from $3,957,000 to $3,881,000 a change of 1.9% since the last quarter. First Trust Advisors Lp cut its position by selling 4,234 shares a decrease of 18.5%. First Trust Advisors Lp claims 18,594 shares with a value of $1,122,000. The total value of its holdings decreased 8.1%.
Nationwide Fund Advisors downsized its stake by shedding 9,909 shares a decrease of 17.7% as of 09/30/2017. Nationwide Fund Advisors owns 46,144 shares valued at $2,785,000. The value of the position overall is down by 7.1%. Aperio Group, LLC divested its investment by shedding 421 shares a decrease of 7.7% in the quarter. Aperio Group, LLC now controls 5,066 shares worth $306,000. The value of the position overall is up by 4.4%.
The company is so far trading down since yesterday’s close of $61.73. Additionally Preferred Bank recently declared a dividend that was paid on Fri Oct 20, 2017. The dividend was $0.200 per share for the quarter which is $0.80 annualized. This dividend represents a yield of $1.24 which is the dividend as a percentage of the current share price. The ex-dividend date was Thursday the 5th of October 2017.
The P/E ratio is currently 21.20 and the market cap of the company is 887.00M. In the latest earnings report the EPS was $2.91 and is expected to be $3.33 for the current year with 14,369,000 shares now outstanding. Next quarter’s EPS is forecasted to be $0.90 and the next full year EPS is projected to be $3.82.
Preferred Bank, launched on September 9, 1991, is a commercial bank. The Bank provides deposit services, as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals and high net worth individuals. The Bank offers various services, such as personal banking, business banking and treasury management. The Bank offers checking accounts, savings accounts and loans. Its treasury management solutions include information solutions, deposit solutions, payment solutions and liquidity solutions. Through its branch network, the Bank provides a range of financial services to individuals and companies located primarily in Southern California..