According to Zacks, “Preferred Bank is one of the largest independent commercial banks in California focusing on the Chinese-American market. The bank is chartered by the State of California, and its deposits are insured by the Federal Deposit Insurance Corporation, or FDIC, to the maximum extent permitted by law. The Company conducts its banking business from its main office in Los Angeles, California, and through ten full-service branch banking offices in Alhambra, Century City, Chino Hills, City of Industry, Torrance, Arcadia, Irvine, Diamond Bar, Santa Monica and Valencia, California. Preferred Bank offers a broad range of deposit and loan products and services to both commercial and consumer customers. The bank provides personalized deposit services as well as real estate finance, commercial loans and trade finance to small and mid- sized businesses, entrepreneurs, real estate developers, professionals and high net worth individuals. Preferred Bank continues to benefit from the significant migration to Southern California of “
Several other equities research analysts have also issued reports on PFBC. B. Riley set a $75.00 price target on Comerica and gave the company a hold rating in a report on Thursday, July 11th. ValuEngine upgraded shares of Zogenix from a buy rating to a strong-buy rating in a report on Thursday, June 27th. Raymond James reiterated a buy rating on shares of West Fraser Timber in a report on Friday, July 19th. DA Davidson set a $56.00 target price on shares of Preferred Bank and gave the stock a hold rating in a report on Friday, July 19th. Finally, FIG Partners reiterated an outperform rating on shares of RBB Bancorp in a report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $54.00.
Shares of PFBC traded up $0.98 during midday trading on Thursday, reaching $54.78. 2,750 shares of the stock were exchanged, compared to its average volume of 93,207. Preferred Bank has a 12-month low of $39.87 and a 12-month high of $65.22. The business has a 50 day simple moving average of $47.92. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.07 and a current ratio of 1.06. The firm has a market cap of $813.90 million, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 1.04 and a beta of 1.20.
Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings data on Wednesday, July 17th. The bank reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.03. The company had revenue of $43.83 million for the quarter, compared to the consensus estimate of $43.82 million. Preferred Bank had a return on equity of 17.73% and a net margin of 33.21%. As a group, sell-side analysts predict that Preferred Bank will post 5.18 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Friday, July 5th. Preferred Bank’s payout ratio is currently 26.37%.
A number of institutional investors have recently added to or reduced their stakes in the stock. LSV Asset Management increased its holdings in shares of Preferred Bank by 587.0% in the first quarter. LSV Asset Management now owns 230,033 shares of the bank’s stock worth $10,344,000 after purchasing an additional 196,547 shares during the period. BlackRock Inc. lifted its position in shares of 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 acquiring an additional 118,199 shares in the last quarter. Cadence Capital Management LLC lifted its position in shares of 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 acquiring an additional 26,485 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 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 acquiring an additional 24,728 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of 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 acquiring an additional 17,228 shares in the last quarter. Hedge funds and other institutional investors own 77.52% of the company’s stock.
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.
Further Reading: Ex-Dividend
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