Preferred Bank (PFBC) Sees Strong Trading Volume
Shares of Preferred Bank (NASDAQ:PFBC) saw an uptick in trading volume on Thursday . 682,189 shares were traded during trading, an increase of 895% from the previous session’s volume of 68,579 shares.The stock last traded at $32.60 and had previously closed at $32.30.
A number of research firms have recently commented on PFBC. Zacks Investment Research upgraded Preferred Bank from a “hold” rating to a “strong-buy” rating and set a $37.00 target price for the company in a research report on Tuesday. FBR & Co increased their target price on Preferred Bank from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, July 22nd.
The company has a market cap of $447.80 million and a P/E ratio of 14.24. The firm’s 50 day moving average is $30.94 and its 200-day moving average is $30.65.
Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.03. Equities research analysts forecast that Preferred Bank will post $2.42 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 21st. Investors of record on Thursday, July 7th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Tuesday, July 5th.
An institutional investor recently raised its position in Preferred Bank stock. Dimensional Fund Advisors LP boosted its position in Preferred Bank (NASDAQ:PFBC) by 13.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 334,399 shares of the company’s stock after buying an additional 40,658 shares during the period. Dimensional Fund Advisors LP owned about 2.47% of Preferred Bank worth $11,042,000 at the end of the most recent reporting period.
Preferred Bank is a commercial bank, which offers financial services to individuals and companies in Southern California. 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 individuals.
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