ValuEngine downgraded shares of Preferred Bank (NASDAQ:PFBC) from a buy rating to a hold rating in a report published on Friday.

A number of other research analysts also recently weighed in on PFBC. Zacks Investment Research downgraded Preferred Bank from a buy rating to a hold rating in a research note on Wednesday, September 20th. FBR & Co reissued a buy rating and issued a $70.00 price objective (up from $65.00) on shares of Preferred Bank in a research note on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $68.50.

Shares of Preferred Bank (NASDAQ:PFBC) traded up $2.62 during trading on Friday, hitting $65.95. The stock had a trading volume of 183,400 shares, compared to its average volume of 82,265. The firm has a market cap of $835.20, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 1.90 and a beta of 0.92. 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 $44.35 and a fifty-two week high of $66.58.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Tuesday, October 24th. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.09. The business had revenue of $36.67 million during the quarter, compared to analyst estimates of $34.68 million. Preferred Bank had a return on equity of 15.22% and a net margin of 29.33%. equities research analysts predict that Preferred Bank will post 3.34 EPS for the current year.

Several hedge funds have recently modified their holdings of PFBC. Teachers Advisors LLC raised its stake in shares of Preferred Bank by 30.0% in the 1st quarter. Teachers Advisors LLC now owns 30,803 shares of the bank’s stock valued at $1,653,000 after acquiring an additional 7,116 shares in the last quarter. Vanguard Group Inc. increased its position in Preferred Bank by 10.2% in the 1st quarter. Vanguard Group Inc. now owns 522,054 shares of the bank’s stock worth $28,013,000 after buying an additional 48,266 shares during the period. Geode Capital Management LLC increased its position in Preferred Bank by 9.0% in the 1st quarter. Geode Capital Management LLC now owns 111,798 shares of the bank’s stock worth $5,999,000 after buying an additional 9,218 shares during the period. Dimensional Fund Advisors LP increased its position in Preferred Bank by 7.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 474,744 shares of the bank’s stock worth $25,475,000 after buying an additional 30,981 shares during the period. Finally, Morgan Stanley increased its position in Preferred Bank by 11.2% in the 1st quarter. Morgan Stanley now owns 75,133 shares of the bank’s stock worth $4,033,000 after buying an additional 7,558 shares during the period. 80.11% of the stock is currently owned by institutional investors and hedge funds.

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Preferred Bank Company Profile

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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