Preferred Bank (NASDAQ:PFBC – Get Free Report) shares saw an uptick in trading volume on Monday . Approximately 107,120 shares were traded during mid-day trading, a decline of 3% from the previous session’s volume of 110,071 shares.The stock last traded at $106.2020 and had previously closed at $107.16.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on PFBC. Weiss Ratings upgraded shares of Preferred Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Piper Sandler boosted their price target on shares of Preferred Bank from $105.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Preferred Bank currently has an average rating of “Hold” and an average price target of $102.00.
Read Our Latest Research Report on PFBC
Preferred Bank Trading Down 2.1%
Preferred Bank (NASDAQ:PFBC – Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The bank reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.05. The business had revenue of $69.62 million during the quarter, compared to analyst estimates of $71.76 million. Preferred Bank had a return on equity of 17.52% and a net margin of 26.49%. As a group, research analysts anticipate that Preferred Bank will post 10.67 earnings per share for the current fiscal year.
Preferred Bank Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $3.20 dividend on an annualized basis and a yield of 3.0%. Preferred Bank’s dividend payout ratio is presently 29.96%.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of PFBC. EverSource Wealth Advisors LLC raised its stake in Preferred Bank by 1,224.0% during 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 last quarter. Quarry LP raised its position in shares of Preferred Bank by 1,992.0% during the third quarter. Quarry LP now owns 523 shares of the bank’s stock valued at $47,000 after buying an additional 498 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Preferred Bank during the third quarter valued at about $70,000. Kemnay Advisory Services Inc. bought a new stake in shares of Preferred Bank in the fourth quarter valued at about $91,000. Finally, Clearstead Advisors LLC lifted its stake in shares of Preferred Bank by 192.1% in the fourth quarter. Clearstead Advisors LLC now owns 1,072 shares of the bank’s stock valued at $101,000 after buying an additional 705 shares during the period. Institutional investors own 72.77% of the company’s stock.
About Preferred Bank
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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