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

Preferred Bank (NASDAQ:PFBC) has earned an average recommendation of “Hold” from the seven analysts that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $102.00.

A number of equities research analysts have recently issued reports on PFBC shares. Stephens reaffirmed a “positive” rating on shares of Preferred Bank in a report on Monday, January 26th. Piper Sandler reduced their price target on Preferred Bank from $121.00 to $111.00 and set an “overweight” rating for the company in a report on Monday, January 26th. Brean Capital downgraded Preferred Bank from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Janney Montgomery Scott initiated coverage on Preferred Bank in a research note on Tuesday, February 24th. They issued a “neutral” rating and a $100.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Preferred Bank in a research report on Monday, December 29th.

Preferred Bank Stock Performance

NASDAQ PFBC opened at $89.37 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The firm’s fifty day moving average price is $89.49 and its two-hundred day moving average price is $92.16. Preferred Bank has a 1 year low of $71.90 and a 1 year high of $103.05. The firm has a market capitalization of $1.29 billion, a P/E ratio of 8.61 and a beta of 0.62.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Thursday, January 22nd. The bank reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.78 by $0.01. Preferred Bank had a net margin of 26.41% and a return on equity of 17.31%. The firm had revenue of $78.07 million during the quarter, compared to analysts’ expectations of $74.54 million. As a group, research analysts anticipate that Preferred Bank will post 9.81 EPS for the current year.

Preferred Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 21st. Shareholders of record on Tuesday, April 7th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, April 7th. This represents a $3.20 annualized dividend and a yield of 3.6%. Preferred Bank’s dividend payout ratio (DPR) is currently 30.83%.

Hedge Funds Weigh In On Preferred Bank

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its position in shares of Preferred Bank by 1,224.0% in 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 during the period. Quarry LP boosted its holdings in shares of Preferred Bank by 1,992.0% during the 3rd quarter. Quarry LP now owns 523 shares of the bank’s stock worth $47,000 after buying an additional 498 shares during the period. Johnson Financial Group Inc. acquired a new position in Preferred Bank in the 3rd quarter valued at about $70,000. Kemnay Advisory Services Inc. acquired a new position in Preferred Bank in the 4th quarter valued at about $91,000. Finally, Clearstead Advisors LLC raised its holdings in Preferred Bank by 192.1% in the 4th quarter. Clearstead Advisors LLC now owns 1,072 shares of the bank’s stock valued at $101,000 after acquiring an additional 705 shares during the period. 72.77% of the stock is 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.