Preferred Bank (PFBC) Receives Average Recommendation of “Buy” from Analysts

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Shares of Preferred Bank (NASDAQ:PFBC) have been given a consensus rating of “Buy” by the eight ratings firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $73.67.

A number of equities research analysts recently weighed in on PFBC shares. Zacks Investment Research downgraded shares of Preferred Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. BidaskClub raised shares of Preferred Bank from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 6th. B. Riley set a $76.00 price target on shares of Preferred Bank and gave the stock a “buy” rating in a research note on Tuesday, October 30th. Raymond James raised shares of Preferred Bank from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, October 4th. Finally, ValuEngine downgraded shares of Preferred Bank from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 27th.

Shares of PFBC traded down $0.64 on Monday, reaching $52.55. 30,490 shares of the company’s stock were exchanged, compared to its average volume of 97,913. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $697.65 million, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 1.14 and a beta of 1.01. Preferred Bank has a 12 month low of $49.45 and a 12 month high of $69.48.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings results on Wednesday, October 17th. The bank reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.02. The business had revenue of $40.91 million during the quarter, compared to the consensus estimate of $41.19 million. Preferred Bank had a net margin of 31.74% and a return on equity of 18.39%. As a group, analysts expect that Preferred Bank will post 4.66 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 19th. Investors of record on Friday, October 5th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Thursday, October 4th. Preferred Bank’s dividend payout ratio (DPR) is 29.24%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its holdings in Preferred Bank by 30.5% during the second quarter. FMR LLC now owns 896,126 shares of the bank’s stock valued at $55,076,000 after purchasing an additional 209,615 shares during the period. Cadence Capital Management LLC grew its holdings in Preferred Bank by 12.3% during the second quarter. Cadence Capital Management LLC now owns 32,112 shares of the bank’s stock valued at $1,974,000 after purchasing an additional 3,528 shares during the period. Stanley Laman Group Ltd. grew its holdings in Preferred Bank by 19.6% during the second quarter. Stanley Laman Group Ltd. now owns 13,782 shares of the bank’s stock valued at $847,000 after purchasing an additional 2,260 shares during the period. Royal Bank of Canada grew its holdings in Preferred Bank by 3.3% during the first quarter. Royal Bank of Canada now owns 92,964 shares of the bank’s stock valued at $5,968,000 after purchasing an additional 2,992 shares during the period. Finally, Swiss National Bank grew its holdings in Preferred Bank by 9.2% during the second quarter. Swiss National Bank now owns 24,989 shares of the bank’s stock valued at $1,536,000 after purchasing an additional 2,100 shares during the period. Hedge funds and other institutional investors own 86.55% of the company’s stock.

About Preferred Bank

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 in the United States. The company's deposit products include checking, savings, negotiable order of withdrawal, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.

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Analyst Recommendations for Preferred Bank (NASDAQ:PFBC)

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