Preferred Bank (NASDAQ:PFBC) has been assigned an average recommendation of “Buy” from the six ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $35.50.
PFBC has been the subject of a number of recent research reports. FBR & Co reiterated a “buy” rating on shares of Preferred Bank in a research note on Thursday, April 20th. Zacks Investment Research lowered Preferred Bank from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. BidaskClub lowered Preferred Bank from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. ValuEngine upgraded Preferred Bank from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Stephens upgraded Preferred Bank from an “equal weight” rating to an “overweight” rating in a research note on Monday, July 10th.
Preferred Bank (PFBC) traded up 1.00% during trading on Friday, reaching $56.49. The company’s stock had a trading volume of 109,316 shares. The company has a market capitalization of $810.52 million, a P/E ratio of 19.40 and a beta of 0.97. Preferred Bank has a 1-year low of $32.17 and a 1-year high of $58.98. The company’s 50-day moving average is $54.32 and its 200-day moving average is $53.55.
Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Tuesday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.05. Preferred Bank had a return on equity of 14.18% and a net margin of 28.91%. The business had revenue of $32.55 million during the quarter, compared to analyst estimates of $31.78 million. Equities analysts anticipate that Preferred Bank will post $3.21 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 7th were paid a $0.20 dividend. The ex-dividend date was Wednesday, July 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.42%. This is a positive change from Preferred Bank’s previous quarterly dividend of $0.18. Preferred Bank’s dividend payout ratio (DPR) is 27.49%.
Several large investors have recently bought and sold shares of PFBC. Bank of Montreal Can raised its stake in shares of Preferred Bank by 122.8% in the first quarter. Bank of Montreal Can now owns 83,131 shares of the bank’s stock worth $4,461,000 after buying an additional 45,827 shares during the period. Nuveen Asset Management LLC raised its stake in shares of Preferred Bank by 52.5% in the first quarter. Nuveen Asset Management LLC now owns 530,245 shares of the bank’s stock worth $28,453,000 after buying an additional 182,564 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of Preferred Bank by 314.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 66,940 shares of the bank’s stock worth $3,592,000 after buying an additional 50,806 shares during the period. Chicago Equity Partners LLC raised its stake in shares of Preferred Bank by 12.3% in the first quarter. Chicago Equity Partners LLC now owns 73,166 shares of the bank’s stock worth $3,926,000 after buying an additional 8,005 shares during the period. Finally, Nine Chapters Capital Management LLC acquired a new stake in shares of Preferred Bank during the first quarter worth $220,000. Institutional investors and hedge funds own 75.19% of the company’s stock.
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About Preferred Bank
Preferred Bank is a commercial bank. The Bank provides deposit services, as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals and high net worth individuals. The Bank offers various services, such as personal banking, business banking and treasury management.
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