Preferred Bank (NASDAQ:PFBC) Given Consensus Recommendation of “Hold” by Brokerages

Preferred Bank (NASDAQ:PFBC – Get Free Report) has received an average rating of “Hold” from the seven research firms that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $106.25.

Several research firms have recently issued reports on PFBC. Weiss Ratings raised Preferred Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Piper Sandler increased their price objective on shares of Preferred Bank from $105.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Finally, Stephens raised their target price on shares of Preferred Bank from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd.

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Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. WINTON GROUP Ltd raised its position in shares of Preferred Bank by 1.1% during the 4th quarter. WINTON GROUP Ltd now owns 14,136 shares of the bank’s stock worth $1,335,000 after purchasing an additional 150 shares during the last quarter. Royce & Associates LP grew its holdings in Preferred Bank by 0.8% during the 4th quarter. Royce & Associates LP now owns 25,200 shares of the bank’s stock valued at $2,380,000 after buying an additional 202 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Preferred Bank by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,266 shares of the bank’s stock worth $608,000 after buying an additional 202 shares in the last quarter. Horizon Investments LLC increased its position in Preferred Bank by 3.5% during the fourth quarter. Horizon Investments LLC now owns 6,231 shares of the bank’s stock worth $583,000 after buying an additional 209 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Preferred Bank during the second quarter worth $25,000. 72.77% of the stock is owned by hedge funds and other institutional investors.

Preferred Bank Stock Performance

Shares of PFBC stock opened at $107.47 on Tuesday. The stock has a fifty day moving average price of $104.55 and a 200 day moving average price of $96.26. The stock has a market cap of $1.55 billion, a PE ratio of 9.82 and a beta of 0.56. Preferred Bank has a 1 year low of $81.50 and a 1 year high of $112.26. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.08 and a current ratio of 1.08.

Preferred Bank (NASDAQ:PFBC – Get Free Report) last posted its earnings results on Wednesday, July 22nd. The bank reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.13. The company had revenue of $73.47 million for the quarter, compared to the consensus estimate of $73.60 million. Preferred Bank had a return on equity of 17.27% and a net margin of 26.54%. Sell-side analysts forecast that Preferred Bank will post 10.71 earnings per share for the current fiscal year.

Preferred Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th were given a $0.80 dividend. The ex-dividend date was Tuesday, July 7th. This represents a $3.20 annualized dividend and a dividend yield of 3.0%. Preferred Bank’s dividend payout ratio is currently 29.25%.

About Preferred Bank

(Get Free Report)

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.

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