Stephens Has Lowered Expectations for Preferred Bank (NASDAQ:PFBC) Stock Price

Preferred Bank (NASDAQ:PFBC) had its target price lowered by research analysts at Stephens from $105.00 to $93.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Stephens’ target price suggests a potential upside of 9.79% from the company’s previous close.

Other analysts have also issued reports about the company. Zacks Research lowered Preferred Bank from a “strong-buy” rating to a “hold” rating in a report on Friday, December 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Preferred Bank in a research report on Monday, December 29th. DA Davidson lowered their price target on Preferred Bank from $108.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday, October 22nd. Finally, Piper Sandler set a $111.00 price objective on Preferred Bank in a research note on Monday. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $102.67.

Preferred Bank Stock Performance

Shares of PFBC opened at $84.71 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.07. Preferred Bank has a one year low of $71.90 and a one year high of $103.05. The stock has a 50-day moving average of $95.99 and a 200-day moving average of $93.41. The company has a market cap of $1.22 billion, a PE ratio of 8.06 and a beta of 0.66.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.78 by $0.01. Preferred Bank had a net margin of 26.41% and a return on equity of 17.31%. The firm had revenue of $78.07 million during the quarter, compared to analysts’ expectations of $74.54 million. On average, equities research analysts predict that Preferred Bank will post 9.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Preferred Bank

Several institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its position in shares of Preferred Bank by 1,224.0% in the second 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 grew its holdings in Preferred Bank by 1,992.0% during the 3rd quarter. Quarry LP now owns 523 shares of the bank’s stock valued at $47,000 after buying an additional 498 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Preferred Bank during the third quarter valued at about $70,000. Copeland Capital Management LLC lifted its holdings in shares of Preferred Bank by 16.2% in the second quarter. Copeland Capital Management LLC now owns 845 shares of the bank’s stock worth $73,000 after buying an additional 118 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Preferred Bank by 350.7% in the second quarter. NewEdge Advisors LLC now owns 1,316 shares of the bank’s stock valued at $114,000 after acquiring an additional 1,024 shares during the period. Hedge funds and other institutional investors own 72.77% of the company’s stock.

Preferred Bank Company Profile

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.