Preferred Bank (NASDAQ:PFBC) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Preferred Bank (NASDAQ:PFBC) have received an average rating of “Hold” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $102.00.

A number of research firms have issued reports on PFBC. Weiss Ratings upgraded Preferred Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Janney Montgomery Scott began coverage on Preferred Bank in a research note on Tuesday, February 24th. They issued a “neutral” rating and a $100.00 target price on the stock. Piper Sandler raised their target price on Preferred Bank from $105.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Finally, Brean Capital cut Preferred Bank from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th.

Preferred Bank Stock Performance

Shares of PFBC opened at $100.70 on Thursday. The business’s fifty day moving average price is $94.27 and its 200 day moving average price is $93.29. Preferred Bank has a 12-month low of $79.60 and a 12-month high of $103.05. The stock has a market capitalization of $1.45 billion, a PE ratio of 9.43 and a beta of 0.56. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.07 and a quick ratio of 1.06.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings data on Wednesday, April 22nd. The bank reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.05. The firm had revenue of $69.62 million for the quarter, compared to analysts’ expectations of $71.76 million. Preferred Bank had a return on equity of 17.52% and a net margin of 26.49%. Equities research analysts forecast that Preferred Bank will post 10.58 EPS for the current year.

Preferred Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 21st. Investors of record on Tuesday, April 7th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, April 7th. Preferred Bank’s payout ratio is currently 29.96%.

Institutional Investors Weigh In On Preferred Bank

Hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its stake in shares of Preferred Bank by 1,224.0% during the second quarter. EverSource Wealth Advisors LLC now owns 331 shares of the bank’s stock valued at $29,000 after purchasing an additional 306 shares in the last quarter. Quarry LP raised its stake in shares of Preferred Bank by 1,992.0% during the third quarter. Quarry LP now owns 523 shares of the bank’s stock valued at $47,000 after purchasing an additional 498 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in Preferred Bank during the third quarter worth about $70,000. Kemnay Advisory Services Inc. acquired a new position in Preferred Bank during the fourth quarter worth about $91,000. Finally, Clearstead Advisors LLC grew its holdings in Preferred Bank by 192.1% during the fourth quarter. Clearstead Advisors LLC now owns 1,072 shares of the bank’s stock worth $101,000 after acquiring an additional 705 shares during the period. 72.77% of the stock is currently owned by institutional investors.

About Preferred Bank

Preferred Bank (NASDAQ: PFBC) is a California-chartered commercial bank headquartered in Los Angeles. The institution offers a full range of banking products and services to businesses and individuals, with a particular emphasis on commercial real estate lending, business banking, treasury management and deposit accounts. Preferred Bank operates through branch offices across Southern California and national loan production offices in major U.S. markets.

The bank’s core lending portfolio focuses on commercial real estate acquisition, development and investment properties.