Brokerages Set Preferred Bank (PFBC) PT at $72.50
Shares of Preferred Bank (NASDAQ:PFBC) have been given a consensus rating of “Buy” by the nine ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, four have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $72.50.
A number of brokerages have weighed in on PFBC. BidaskClub cut Preferred Bank from a “hold” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research upgraded Preferred Bank from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Wednesday, November 29th. B. Riley reiterated a “buy” rating and issued a $76.00 price target on shares of Preferred Bank in a research report on Wednesday, January 24th. Sandler O’Neill reiterated a “buy” rating and issued a $73.00 price target on shares of Preferred Bank in a research report on Tuesday, January 23rd. Finally, Raymond James Financial upgraded Preferred Bank from an “outperform” rating to a “strong-buy” rating and set a $71.00 price target on the stock in a research report on Tuesday, January 9th. They noted that the move was a valuation call.
Shares of Preferred Bank (NASDAQ:PFBC) traded up $0.71 during midday trading on Wednesday, hitting $64.72. The company had a trading volume of 121,166 shares, compared to its average volume of 99,255. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $844.16, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 1.40 and a beta of 0.97. Preferred Bank has a twelve month low of $46.88 and a twelve month high of $67.65.
Several hedge funds have recently made changes to their positions in PFBC. BNP Paribas Arbitrage SA grew its holdings in shares of Preferred Bank by 80.4% during the third quarter. BNP Paribas Arbitrage SA now owns 2,415 shares of the bank’s stock worth $146,000 after purchasing an additional 1,076 shares during the last quarter. Stevens Capital Management LP bought a new stake in shares of Preferred Bank during the third quarter worth $237,000. Capital Fund Management S.A. bought a new stake in shares of Preferred Bank during the fourth quarter worth $241,000. First Mercantile Trust Co. bought a new stake in shares of Preferred Bank during the fourth quarter worth $256,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Preferred Bank during the fourth quarter worth $265,000. Institutional investors own 83.98% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Brokerages Set Preferred Bank (PFBC) PT at $72.50” was originally reported by Daily Political and is the sole property of of Daily Political. If you are reading this story on another domain, it was copied illegally and republished in violation of United States & international copyright and trademark laws. The correct version of this story can be accessed at https://www.dailypolitical.com/2018/03/05/brokerages-set-preferred-bank-pfbc-pt-at-72-50.html.
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.
Receive News & Ratings for Preferred Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Preferred Bank and related companies with MarketBeat.com's FREE daily email newsletter.