Preferred Bank (NASDAQ:PFBC) Given Consensus Recommendation of “Hold” by Analysts
by Danessa Lincoln · The Markets DailyShares of Preferred Bank (NASDAQ:PFBC – Get Free Report) have been assigned a consensus rating of “Hold” from the seven research firms that are currently covering the company, MarketBeat.com reports. Four research 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. Piper Sandler cut their price objective on shares of Preferred Bank from $121.00 to $111.00 and set an “overweight” rating for the company in a research note on Monday, January 26th. Janney Montgomery Scott initiated coverage on shares of Preferred Bank in a research report on Tuesday, February 24th. They set a “neutral” rating and a $100.00 price target for the company. Brean Capital cut Preferred Bank from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Zacks Research lowered Preferred Bank from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 26th. Finally, Stephens restated a “positive” rating on shares of Preferred Bank in a report on Monday, January 26th.
Read Our Latest Research Report on Preferred Bank
Institutional Investors Weigh In On Preferred Bank
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in shares of Preferred Bank by 1,224.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 331 shares of the bank’s stock valued at $29,000 after purchasing an additional 306 shares in the last quarter. Quarry LP raised its stake in Preferred Bank by 1,992.0% in the third quarter. Quarry LP now owns 523 shares of the bank’s stock worth $47,000 after buying an additional 498 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in Preferred Bank in the third quarter worth about $70,000. Kemnay Advisory Services Inc. bought a new stake in Preferred Bank during the 4th quarter valued at approximately $91,000. Finally, Clearstead Advisors LLC lifted its stake in shares of 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 purchasing an additional 705 shares during the period. 72.77% of the stock is currently owned by institutional investors.
Preferred Bank Trading Down 1.4%
Shares of PFBC stock opened at $87.59 on Friday. The business has a 50-day moving average price of $90.18 and a two-hundred day moving average price of $92.35. The firm has a market cap of $1.26 billion, a P/E ratio of 8.44 and a beta of 0.62. Preferred Bank has a 12-month low of $71.90 and a 12-month high of $103.05. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.
Preferred Bank (NASDAQ:PFBC – Get Free Report) last issued 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. The business had revenue of $78.07 million for the quarter, compared to analysts’ expectations of $74.54 million. Preferred Bank had a net margin of 26.41% and a return on equity of 17.31%. Equities analysts anticipate that Preferred Bank will post 9.81 EPS for the current fiscal year.
Preferred Bank Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 21st. Stockholders of record on Tuesday, April 7th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, April 7th. Preferred Bank’s dividend payout ratio is 30.83%.
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.