Stephens Increases Preferred Bank (NASDAQ:PFBC) Price Target to $95.00

Preferred Bank (NASDAQ:PFBC) had its price target boosted by stock analysts at Stephens from $84.00 to $95.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. Stephens’ price target points to a potential upside of 10.57% from the company’s previous close.

Separately, Piper Sandler lifted their target price on shares of Preferred Bank from $88.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday.

Preferred Bank Price Performance

Preferred Bank stock traded up $0.67 during mid-day trading on Tuesday, hitting $85.92. 8,331 shares of the company were exchanged, compared to its average volume of 88,431. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.07 and a quick ratio of 1.07. Preferred Bank has a 12-month low of $58.52 and a 12-month high of $91.67. The business’s 50 day simple moving average is $76.93 and its two-hundred day simple moving average is $75.00. The company has a market capitalization of $1.24 billion, a P/E ratio of 8.29 and a beta of 0.98.

Preferred Bank (NASDAQ:PFBC) last released its earnings results on Thursday, July 25th. The bank reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.09. The company had revenue of $130.70 million for the quarter, compared to analyst estimates of $70.55 million. Preferred Bank had a net margin of 27.35% and a return on equity of 20.24%. During the same period in the prior year, the firm earned $2.61 EPS. Analysts forecast that Preferred Bank will post 9.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Preferred Bank

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Preferred Bank by 1.3% during the first quarter. Vanguard Group Inc. now owns 868,073 shares of the bank’s stock worth $66,642,000 after purchasing an additional 10,931 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Preferred Bank by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 667,256 shares of the bank’s stock worth $48,745,000 after buying an additional 10,259 shares during the last quarter. Phocas Financial Corp. raised its position in shares of Preferred Bank by 2.0% in the 4th quarter. Phocas Financial Corp. now owns 150,897 shares of the bank’s stock worth $11,023,000 after buying an additional 2,908 shares during the period. Smith Graham & Co. Investment Advisors LP acquired a new position in Preferred Bank in the fourth quarter valued at $6,522,000. Finally, LSV Asset Management purchased a new stake in Preferred Bank during the first quarter valued at about $5,951,000. 72.77% of the stock is owned by institutional investors and hedge funds.

Preferred Bank Company Profile

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 accepts checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.