Preferred Bank (NASDAQ:PFBC) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Preferred Bank (NASDAQ:PFBC) have earned an average rating of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $102.00.

A number of research analysts have recently commented on the stock. Stephens reaffirmed a “positive” rating on shares of Preferred Bank in a research report on Monday, January 26th. Janney Montgomery Scott initiated coverage on shares of Preferred Bank in a research note on Tuesday. They issued a “neutral” rating and a $100.00 target price for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Preferred Bank in a research note on Monday, December 29th. Zacks Research cut shares of Preferred Bank from a “strong-buy” rating to a “hold” rating in a report on Friday, December 26th. Finally, Piper Sandler lowered their price objective on shares of Preferred Bank from $121.00 to $111.00 and set an “overweight” rating on the stock in a report on Monday, January 26th.

Preferred Bank Price Performance

PFBC opened at $86.99 on Tuesday. The stock has a fifty day moving average of $93.58 and a 200-day moving average of $92.87. The firm has a market capitalization of $1.26 billion, a P/E ratio of 8.46 and a beta of 0.65. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Preferred Bank has a 12-month low of $71.90 and a 12-month high of $103.05.

Preferred Bank (NASDAQ:PFBC) last issued its earnings results on Thursday, January 22nd. The bank reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.78 by $0.01. Preferred Bank had a return on equity of 17.31% and a net margin of 26.41%.The company had revenue of $78.07 million for the quarter, compared to the consensus estimate of $74.54 million. Equities analysts forecast that Preferred Bank will post 9.81 EPS for the current fiscal year.

Preferred Bank Dividend Announcement

The company also recently announced an annual dividend, which was paid on Tuesday, January 20th. Investors of record on Tuesday, January 6th were paid a $3.20 dividend. The ex-dividend date of this dividend was Tuesday, January 6th. This represents a dividend yield of 336.0%. Preferred Bank’s dividend payout ratio (DPR) is currently 30.83%.

Institutional Trading of Preferred Bank

A number of hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its position in shares of 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 acquiring an additional 306 shares during the period. Quarry LP grew its position in Preferred Bank by 1,992.0% in the 3rd quarter. Quarry LP now owns 523 shares of the bank’s stock worth $47,000 after purchasing an additional 498 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Preferred Bank during the third quarter valued at approximately $70,000. Kemnay Advisory Services Inc. bought a new stake in Preferred Bank during the fourth quarter worth $91,000. Finally, Clearstead Advisors LLC boosted its position in Preferred Bank by 192.1% in the fourth quarter. Clearstead Advisors LLC now owns 1,072 shares of the bank’s stock worth $101,000 after purchasing an additional 705 shares during the last quarter. Institutional investors and hedge funds own 72.77% of the company’s stock.

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.