Shares of Preferred Bank (NASDAQ:PFBC) have been assigned an average recommendation of “Buy” from the eight brokerages that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $73.67.
Several analysts have issued reports on the stock. Zacks Investment Research lowered shares of Preferred Bank from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. B. Riley set a $76.00 target price on shares of Preferred Bank and gave the company a “buy” rating in a research report on Tuesday, October 30th. ValuEngine lowered shares of Preferred Bank from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 27th. Raymond James decreased their target price on shares of Preferred Bank from $77.00 to $72.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 19th. Finally, BidaskClub upgraded shares of Preferred Bank from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 6th.
Several institutional investors have recently modified their holdings of the company. Summit Global Investments boosted its position in shares of Preferred Bank by 8.6% during the 2nd quarter. Summit Global Investments now owns 10,100 shares of the bank’s stock valued at $621,000 after acquiring an additional 800 shares in the last quarter. Sei Investments Co. lifted its holdings in Preferred Bank by 5.4% during the 2nd quarter. Sei Investments Co. now owns 15,937 shares of the bank’s stock valued at $979,000 after purchasing an additional 823 shares during the last quarter. MetLife Investment Advisors LLC lifted its holdings in Preferred Bank by 16.7% during the 2nd quarter. MetLife Investment Advisors LLC now owns 6,573 shares of the bank’s stock valued at $404,000 after purchasing an additional 943 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Preferred Bank by 3.6% during the 1st quarter. Wells Fargo & Company MN now owns 31,273 shares of the bank’s stock valued at $2,007,000 after purchasing an additional 1,095 shares during the last quarter. Finally, Alps Advisors Inc. lifted its holdings in Preferred Bank by 16.8% during the 3rd quarter. Alps Advisors Inc. now owns 8,088 shares of the bank’s stock valued at $473,000 after purchasing an additional 1,161 shares during the last quarter. Institutional investors and hedge funds own 86.55% of the company’s stock.
Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings results on Wednesday, October 17th. The bank reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.02. The company had revenue of $40.91 million for the quarter, compared to analyst estimates of $41.19 million. Preferred Bank had a net margin of 31.74% and a return on equity of 18.39%. As a group, sell-side analysts expect that Preferred Bank will post 4.66 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 19th. Stockholders of record on Friday, October 5th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, October 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.90%. Preferred Bank’s dividend payout ratio (DPR) is currently 29.24%.
Preferred Bank Company Profile
Preferred Bank provides various commercial banking products and services to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals, and high net worth individuals in the United States. The company's deposit products include checking, savings, negotiable order of withdrawal, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.
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