Recent Analysts’ Ratings Updates for Preferred Bank (PFBC)

A number of research firms have changed their ratings and price targets for Preferred Bank (NASDAQ: PFBC):

  • 10/19/2018 – Preferred Bank had its price target lowered by analysts at Raymond James from $77.00 to $72.00. They now have a “strong-buy” rating on the stock.
  • 10/17/2018 – Preferred Bank was given a new $80.00 price target on by analysts at B. Riley. They now have a “buy” rating on the stock.
  • 10/6/2018 – Preferred Bank was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 10/6/2018 – Preferred Bank was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $67.00 price target on the stock. 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 “
  • 10/4/2018 – Preferred Bank was upgraded by analysts at Raymond James from an “outperform” rating to a “strong-buy” rating.
  • 9/25/2018 – Preferred Bank was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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 “
  • 9/19/2018 – Preferred Bank was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.

Shares of NASDAQ:PFBC opened at $55.06 on Monday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.28. Preferred Bank has a one year low of $54.93 and a one year high of $69.48. The stock has a market cap of $726.13 million, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 1.18 and a beta of 0.93.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings results on Wednesday, October 17th. The bank reported $1.20 EPS for the quarter, topping the consensus estimate of $1.18 by $0.02. Preferred Bank had a net margin of 31.74% and a return on equity of 18.39%. The firm had revenue of $40.91 million for the quarter, compared to analysts’ expectations of $41.19 million. As a group, equities analysts forecast that Preferred Bank will post 4.66 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 19th. Shareholders of record on Friday, October 5th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, October 4th. This represents a $1.00 annualized dividend and a yield of 1.82%. Preferred Bank’s dividend payout ratio (DPR) is presently 29.24%.

Hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN grew its stake in Preferred Bank by 3.6% in the 1st quarter. Wells Fargo & Company MN now owns 31,273 shares of the bank’s stock valued at $2,007,000 after buying an additional 1,095 shares during the last quarter. Northern Trust Corp grew its stake in Preferred Bank by 0.7% in the 1st quarter. Northern Trust Corp now owns 261,082 shares of the bank’s stock valued at $16,761,000 after buying an additional 1,833 shares during the last quarter. BlackRock Inc. grew its stake in Preferred Bank by 1.5% in the 1st quarter. BlackRock Inc. now owns 807,206 shares of the bank’s stock valued at $51,823,000 after buying an additional 11,559 shares during the last quarter. New York State Common Retirement Fund grew its stake in Preferred Bank by 24.4% in the 1st quarter. New York State Common Retirement Fund now owns 36,651 shares of the bank’s stock valued at $2,353,000 after buying an additional 7,187 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in Preferred Bank by 5.9% in the 1st quarter. California Public Employees Retirement System now owns 31,200 shares of the bank’s stock valued at $2,003,000 after buying an additional 1,747 shares during the last quarter. 88.41% of the stock is currently owned by institutional investors.

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, negotiable order of withdrawal, 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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