Preferred Bank (NASDAQ:PFBC) received a $80.00 price target from research analysts at B. Riley in a research note issued on Wednesday. The brokerage currently has a “buy” rating on the bank’s stock. B. Riley’s price objective would suggest a potential upside of 33.94% from the company’s current price.

Several other analysts have also recently commented on the company. Raymond James upgraded Preferred Bank from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, October 4th. ValuEngine cut Preferred Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. Zacks Investment Research upgraded Preferred Bank from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. BidaskClub upgraded Preferred Bank from a “sell” rating to a “hold” rating in a research report on Friday, July 6th. Finally, Stephens cut Preferred Bank from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 6th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $72.20.

Shares of PFBC stock traded up $0.32 during trading hours on Wednesday, hitting $59.73. 2,733 shares of the company’s stock were exchanged, compared to its average volume of 115,148. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $771.50 million, a price-to-earnings ratio of 17.46, a PEG ratio of 1.26 and a beta of 0.93. Preferred Bank has a fifty-two week low of $55.65 and a fifty-two week high of $69.48.

Preferred Bank (NASDAQ:PFBC) last announced its earnings results on Wednesday, October 17th. The bank reported $1.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.02. The business had revenue of $40.91 million during the quarter, compared to the consensus estimate of $41.19 million. Preferred Bank had a return on equity of 17.86% and a net margin of 30.57%. Analysts anticipate that Preferred Bank will post 4.63 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Summit Global Investments raised its position in Preferred Bank by 8.6% in the 2nd quarter. Summit Global Investments now owns 10,100 shares of the bank’s stock valued at $621,000 after purchasing an additional 800 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Preferred Bank by 5.4% in the 2nd quarter. Sei Investments Co. now owns 15,937 shares of the bank’s stock valued at $979,000 after acquiring an additional 823 shares during the last quarter. MetLife Investment Advisors LLC increased its holdings in shares of Preferred Bank by 16.7% in the 2nd quarter. MetLife Investment Advisors LLC now owns 6,573 shares of the bank’s stock valued at $404,000 after acquiring an additional 943 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Preferred Bank by 3.6% in the 1st quarter. Wells Fargo & Company MN now owns 31,273 shares of the bank’s stock valued at $2,007,000 after acquiring an additional 1,095 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Preferred Bank by 27.5% in the 1st quarter. Barclays PLC now owns 5,789 shares of the bank’s stock valued at $372,000 after acquiring an additional 1,247 shares during the last quarter. Hedge funds and other institutional investors own 88.31% of the company’s stock.

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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Analyst Recommendations for Preferred Bank (NASDAQ:PFBC)

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