Raymond James lowered shares of Preferred Bank (NASDAQ:PFBC) from a strong-buy rating to an outperform rating in a research report sent to investors on Friday morning, Briefing.com Automated Import reports. Raymond James currently has $57.00 price objective on the bank’s stock.
Several other research analysts have also recently issued reports on the company. DA Davidson dropped their target price on Skyworks Solutions to $95.00 and set a buy rating on the stock in a research report on Wednesday, June 5th. Zacks Investment Research raised DLH from a sell rating to a hold rating in a research report on Tuesday, July 9th. BidaskClub raised Zillow Group from a buy rating to a strong-buy rating in a research report on Tuesday, July 2nd. B. Riley set a $75.00 target price on Comerica and gave the stock a hold rating in a research report on Thursday, July 11th. Finally, FIG Partners reaffirmed an outperform rating on shares of RBB Bancorp in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Preferred Bank presently has an average rating of Hold and a consensus price target of $53.20.
Shares of NASDAQ:PFBC opened at $51.71 on Friday. The stock has a market capitalization of $766.50 million, a PE ratio of 11.36, a price-to-earnings-growth ratio of 0.99 and a beta of 1.20. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.06 and a quick ratio of 1.07. The stock has a 50-day moving average price of $47.46. Preferred Bank has a 52-week low of $39.87 and a 52-week high of $66.42.
Preferred Bank (NASDAQ:PFBC) last announced its earnings results on Wednesday, July 17th. The bank reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.03. The business had revenue of $43.83 million for the quarter, compared to analysts’ expectations of $43.82 million. Preferred Bank had a return on equity of 17.73% and a net margin of 33.21%. As a group, equities analysts forecast that Preferred Bank will post 5.16 earnings per share for the current year.
The business also recently disclosed 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. The ex-dividend date was Friday, July 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.32%. Preferred Bank’s payout ratio is currently 26.37%.
Several hedge funds have recently bought and sold shares of the company. Legal & General Group Plc lifted its position in shares of Preferred Bank by 0.7% during the 4th quarter. Legal & General Group Plc now owns 29,928 shares of the bank’s stock valued at $1,298,000 after buying an additional 205 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Preferred Bank by 2.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 9,861 shares of the bank’s stock valued at $427,000 after buying an additional 216 shares in the last quarter. Comerica Bank raised its stake in Preferred Bank by 2.1% during the 1st quarter. Comerica Bank now owns 13,793 shares of the bank’s stock valued at $652,000 after purchasing an additional 287 shares during the period. Texas Permanent School Fund raised its stake in Preferred Bank by 3.8% during the 1st quarter. Texas Permanent School Fund now owns 9,469 shares of the bank’s stock valued at $426,000 after purchasing an additional 343 shares during the period. Finally, Context BH Capital Management LP raised its stake in Preferred Bank by 0.7% during the 1st quarter. Context BH Capital Management LP now owns 70,521 shares of the bank’s stock valued at $3,171,000 after purchasing an additional 492 shares during the period. 77.52% of the stock is currently owned by hedge funds and other institutional investors.
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, 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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