Preferred Bank (NASDAQ:PFBC) Receives Consensus Rating of “Hold” from Analysts

Shares of Preferred Bank (NASDAQ:PFBC) have been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $102.00.

PFBC has been the topic of a number of research analyst reports. Brean Capital cut shares of Preferred Bank from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Weiss Ratings cut shares of Preferred Bank from a “buy (b)” rating to a “hold (c+)” rating in a report on Friday, May 15th. Piper Sandler lifted their target price on shares of Preferred Bank from $105.00 to $111.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Finally, Janney Montgomery Scott initiated coverage on shares of Preferred Bank in a report on Tuesday, February 24th. They issued a “neutral” rating and a $100.00 target price on the stock.

Hedge Funds Weigh In On Preferred Bank

A number of institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted 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 worth $29,000 after purchasing an additional 306 shares in the last quarter. Quarry LP boosted its position in shares of 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 buying an additional 498 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Preferred Bank in the 3rd quarter worth about $70,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Preferred Bank in the 4th quarter worth about $91,000. Finally, Clearstead Advisors LLC boosted its position in shares of Preferred Bank by 192.1% in the 4th quarter. Clearstead Advisors LLC now owns 1,072 shares of the bank’s stock worth $101,000 after buying an additional 705 shares in the last quarter. 72.77% of the stock is owned by institutional investors and hedge funds.

Preferred Bank Stock Up 0.8%

PFBC stock opened at $97.99 on Thursday. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.45. Preferred Bank has a twelve month low of $79.60 and a twelve month high of $103.05. The company’s 50 day moving average is $93.85 and its two-hundred day moving average is $93.16. The stock has a market cap of $1.41 billion, a P/E ratio of 9.18 and a beta of 0.56.

Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings data on Wednesday, April 22nd. The bank reported $2.53 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.05. Preferred Bank had a net margin of 26.49% and a return on equity of 17.52%. The company had revenue of $69.62 million for the quarter, compared to analysts’ expectations of $71.76 million. Research analysts expect that Preferred Bank will post 10.58 earnings per share for the current fiscal year.

Preferred Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 21st. Stockholders of record on Tuesday, April 7th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, April 7th. Preferred Bank’s payout ratio is presently 29.96%.

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.