DA Davidson set a $56.00 price target on Preferred Bank (NASDAQ:PFBC) in a research note published on Friday, TipRanks reports. The brokerage currently has a hold rating on the bank’s stock.
Several other analysts also recently issued reports on PFBC. Zacks Investment Research raised shares of DLH from a sell rating to a hold rating in a research report on Tuesday, July 9th. FIG Partners reaffirmed an outperform rating on shares of RBB Bancorp in a research report on Friday, April 12th. BidaskClub downgraded shares of YY from a sell rating to a strong sell rating in a research report on Tuesday. Raymond James reissued a buy rating on shares of West Fraser Timber in a research report on Friday. Finally, B. Riley set a $75.00 price target on shares of Comerica and gave the stock a hold rating in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Preferred Bank presently has a consensus rating of Hold and an average target price of $54.00.
NASDAQ:PFBC traded up $0.94 during trading hours on Friday, hitting $52.65. The stock had a trading volume of 93,900 shares, compared to its average volume of 70,539. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.07 and a current ratio of 1.06. Preferred Bank has a 1-year low of $39.87 and a 1-year high of $66.42. The firm has a 50 day simple moving average of $47.46. The company has a market capitalization of $783.35 million, a P/E ratio of 11.57, a PEG ratio of 0.99 and a beta of 1.20.
Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings data on Wednesday, July 17th. The bank reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.03. Preferred Bank had a net margin of 33.21% and a return on equity of 17.73%. The company had revenue of $43.83 million during the quarter, compared to the consensus estimate of $43.82 million. As a group, equities research analysts expect that Preferred Bank will post 5.16 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend was Friday, July 5th. Preferred Bank’s payout ratio is currently 26.37%.
Several hedge funds have recently added to or reduced their stakes in PFBC. LSV Asset Management grew its position in shares of Preferred Bank by 587.0% during the first quarter. LSV Asset Management now owns 230,033 shares of the bank’s stock worth $10,344,000 after buying an additional 196,547 shares in the last quarter. BlackRock Inc. lifted its stake in Preferred Bank by 5.8% during the fourth quarter. BlackRock Inc. now owns 2,166,036 shares of the bank’s stock worth $93,897,000 after purchasing an additional 118,199 shares during the last quarter. Cadence Capital Management LLC lifted its stake in Preferred Bank by 114.0% during the first quarter. Cadence Capital Management LLC now owns 49,727 shares of the bank’s stock worth $2,236,000 after purchasing an additional 26,485 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Preferred Bank by 4.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 613,310 shares of the bank’s stock worth $26,587,000 after purchasing an additional 24,728 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in Preferred Bank by 13.1% during the first quarter. Marshall Wace LLP now owns 149,053 shares of the bank’s stock worth $6,703,000 after purchasing an additional 17,228 shares during the last quarter. 77.52% of the stock is owned by institutional investors and hedge funds.
About Preferred Bank
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, 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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