Preferred Bank (NASDAQ:PFBC – Get Free Report) shares saw strong trading volume on Thursday following a dividend announcement from the company. 101,816 shares traded hands during mid-day trading, a decline of 2% from the previous session’s volume of 103,600 shares.The stock last traded at $99.5580 and had previously closed at $98.39.
The newly announced dividend which will be paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th will be issued a dividend of $0.80 per share. The ex-dividend date is Tuesday, July 7th. This represents a $3.20 dividend on an annualized basis and a yield of 3.2%. Preferred Bank’s dividend payout ratio (DPR) is presently 29.96%.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on PFBC. Janney Montgomery Scott began coverage on shares of Preferred Bank in a report on Tuesday, February 24th. They issued a “neutral” rating and a $100.00 price target for the company. Brean Capital lowered shares of Preferred Bank from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Piper Sandler boosted their price target on shares of Preferred Bank from $105.00 to $111.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Finally, Weiss Ratings upgraded shares of Preferred Bank from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $102.00.
Preferred Bank Stock Performance
The business’s 50-day moving average price is $95.16 and its 200-day moving average price is $93.51. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.45. The stock has a market cap of $1.43 billion, a PE ratio of 9.32 and a beta of 0.56.
Preferred Bank (NASDAQ:PFBC – Get Free Report) last released its earnings results on Wednesday, April 22nd. The bank reported $2.53 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.05. Preferred Bank had a net margin of 26.49% and a return on equity of 17.52%. The company had revenue of $69.62 million for the quarter, compared to the consensus estimate of $71.76 million. As a group, equities research analysts expect that Preferred Bank will post 10.58 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Preferred Bank
Large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in shares of Preferred Bank by 1,224.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 331 shares of the bank’s stock valued at $29,000 after purchasing an additional 306 shares during the period. Quarry LP lifted its stake in shares of Preferred Bank by 1,992.0% in the 3rd quarter. Quarry LP now owns 523 shares of the bank’s stock valued at $47,000 after purchasing an additional 498 shares during the period. Johnson Financial Group Inc. acquired a new position in shares of Preferred Bank in the 3rd quarter valued at $70,000. Kemnay Advisory Services Inc. acquired a new position in shares of Preferred Bank in the 4th quarter valued at $91,000. Finally, Clearstead Advisors LLC lifted its stake in shares of Preferred Bank by 192.1% in the 4th quarter. Clearstead Advisors LLC now owns 1,072 shares of the bank’s stock valued at $101,000 after purchasing an additional 705 shares during the period. 72.77% of the stock is currently owned by institutional investors and hedge funds.
Preferred Bank Company Profile
Preferred Bank (NASDAQ: PFBC) is a California-chartered commercial bank headquartered in Los Angeles. The institution offers a full range of banking products and services to businesses and individuals, with a particular emphasis on commercial real estate lending, business banking, treasury management and deposit accounts. Preferred Bank operates through branch offices across Southern California and national loan production offices in major U.S. markets.
The bank’s core lending portfolio focuses on commercial real estate acquisition, development and investment properties.
Featured Articles
- Five stocks we like better than Preferred Bank
- The AI Trade Is Getting Harder to Pick, But These 3 ETFs Take a Different Route
- 3 Hotel REITs Poised to Benefit from the World Cup
- Why Rocket Lab’s Nasdaq-100 Moment Could Change the Story
- 3 Stocks Doing the Heavy Lifting in Healthcare’s Rebound
Receive News & Ratings for Preferred Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Preferred Bank and related companies with MarketBeat.com's FREE daily email newsletter.
