BidaskClub upgraded shares of Preferred Bank (NASDAQ:PFBC) from a sell rating to a hold rating in a research report report published on Wednesday.
A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Preferred Bank from a buy rating to a hold rating in a report on Thursday, November 2nd. FBR & Co restated a buy rating and issued a $70.00 price target (up previously from $65.00) on shares of Preferred Bank in a research note on Wednesday, October 25th. Finally, ValuEngine lowered shares of Preferred Bank from a buy rating to a hold rating in a research note on Friday, December 1st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $68.50.
Shares of Preferred Bank (NASDAQ PFBC) traded down $0.90 during midday trading on Wednesday, reaching $63.50. 46,700 shares of the company’s stock were exchanged, compared to its average volume of 82,142. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.35. Preferred Bank has a 1 year low of $46.75 and a 1 year high of $66.58. The company has a market capitalization of $849.31, a PE ratio of 20.38, a P/E/G ratio of 1.93 and a beta of 0.92.
Large investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA increased its stake in shares of Preferred Bank by 80.4% in the third quarter. BNP Paribas Arbitrage SA now owns 2,415 shares of the bank’s stock valued at $146,000 after purchasing an additional 1,076 shares during the period. Stevens Capital Management LP acquired a new stake in shares of Preferred Bank in the third quarter valued at approximately $237,000. Sheaff Brock Investment Advisors LLC acquired a new stake in shares of Preferred Bank in the second quarter valued at approximately $220,000. Voya Investment Management LLC acquired a new stake in shares of Preferred Bank in the second quarter valued at approximately $269,000. Finally, Capital Fund Management S.A. acquired a new stake in shares of Preferred Bank in the second quarter valued at approximately $283,000. Institutional investors own 80.11% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This article was posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark & copyright laws. The legal version of this article can be accessed at https://www.com-unik.info/2017/12/07/preferred-bank-pfbc-upgraded-to-hold-by-bidaskclub.html.
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.
What are top analysts saying about Preferred Bank? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Preferred Bank and related companies.