Preferred Bank (PFBC) Raised to Hold at BidaskClub

Preferred Bank (NASDAQ:PFBC) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Thursday.

PFBC has been the topic of a number of other reports. UBS Group upgraded Preferred Bank from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday. Raymond James Financial upgraded Preferred Bank from an “outperform” rating to a “strong-buy” rating and set a $71.00 price objective on the stock in a research report on Tuesday. They noted that the move was a valuation call. ValuEngine lowered Preferred Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research upgraded Preferred Bank from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research report on Wednesday, November 29th. Finally, FBR & Co reiterated a “buy” rating and issued a $70.00 price objective (up from $65.00) on shares of Preferred Bank in a research report on Wednesday, October 25th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $69.33.

Preferred Bank (PFBC) traded up $1.40 on Thursday, reaching $63.20. The company had a trading volume of 66,327 shares, compared to its average volume of 83,917. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.35. Preferred Bank has a fifty-two week low of $46.88 and a fifty-two week high of $66.58. The company has a market cap of $896.87, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 1.53 and a beta of 0.92.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings results on Tuesday, October 24th. The bank reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.09. Preferred Bank had a return on equity of 15.22% and a net margin of 29.33%. The business had revenue of $36.67 million for the quarter, compared to analyst estimates of $34.68 million. equities research analysts anticipate that Preferred Bank will post 3.35 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA grew its position in shares of Preferred Bank by 80.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,415 shares of the bank’s stock worth $146,000 after buying an additional 1,076 shares during the last quarter. Stevens Capital Management LP bought a new stake in shares of Preferred Bank in the 3rd quarter worth approximately $237,000. Sheaff Brock Investment Advisors LLC bought a new stake in shares of Preferred Bank in the 2nd quarter worth approximately $220,000. Voya Investment Management LLC bought a new stake in shares of Preferred Bank in the 2nd quarter worth approximately $269,000. Finally, Capital Fund Management S.A. purchased a new position in shares of Preferred Bank in the 2nd quarter valued at approximately $283,000. Hedge funds and other institutional investors own 79.89% 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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