Preferred Bank (NASDAQ:PFBC) Stock Has Average Price Target of $108.50 According to Brokerages

Preferred Bank (NASDAQ:PFBC) has been assigned an average rating of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $108.50.

Several research firms have weighed in on PFBC. Benchmark upgraded shares of Preferred Bank to a “strong-buy” rating in a report on Wednesday, September 23rd. Piper Sandler boosted their price target on shares of Preferred Bank from $115.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, October 1st. Stephens upped their price objective on shares of Preferred Bank from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings raised Preferred Bank from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday.

Preferred Bank Price Performance

Preferred Bank stock opened at $102.58 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $1.48 billion, a P/E ratio of 9.38 and a beta of 0.57. The business has a 50-day moving average of $105.09 and a 200-day moving average of $100.42. Preferred Bank has a 1 year low of $81.50 and a 1 year high of $112.26.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.13. The business had revenue of $73.47 million for the quarter, compared to the consensus estimate of $73.60 million. Preferred Bank had a net margin of 26.54% and a return on equity of 17.27%. On average, equities analysts anticipate that Preferred Bank will post 10.74 EPS for the current year.

Preferred Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 19th. Shareholders of record on Monday, October 5th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, October 5th. Preferred Bank’s dividend payout ratio is 29.25%.

Institutional Trading of Preferred Bank

Large investors have recently bought and sold shares of the business. Kennedy Capital Management LLC raised its holdings in Preferred Bank by 19.9% during the 4th quarter. Kennedy Capital Management LLC now owns 199,419 shares of the bank’s stock worth $18,831,000 after buying an additional 33,157 shares during the period. Hsbc Holdings PLC increased its position in shares of Preferred Bank by 18.8% during the first quarter. Hsbc Holdings PLC now owns 171,757 shares of the bank’s stock worth $15,606,000 after acquiring an additional 27,169 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Preferred Bank during the second quarter worth $12,352,000. Principal Financial Group Inc. raised its holdings in shares of Preferred Bank by 10.6% during the first quarter. Principal Financial Group Inc. now owns 77,406 shares of the bank’s stock worth $7,020,000 after acquiring an additional 7,434 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Preferred Bank by 9.8% during the first quarter. First Trust Advisors LP now owns 56,129 shares of the bank’s stock worth $5,090,000 after acquiring an additional 4,991 shares during the period. 72.77% of the stock is owned by institutional investors.

Preferred Bank Company Profile

Preferred Bank (NASDAQ:PFBC) is a commercial bank headquartered in Los Angeles, California. Founded in 1991, the bank provides banking and financial services to businesses, professionals, real estate investors and individuals, with a particular focus on small and medium-sized businesses and communities in California and New York.

The bank offers a range of deposit products, including checking, savings, money market accounts and certificates of deposit. Its lending activities include commercial real estate loans, commercial and industrial financing, residential real estate loans, small business loans and consumer lending.