Preferred Bank (NASDAQ:PFBC) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Preferred Bank (NASDAQ:PFBC) have been given an average rating of “Moderate Buy” by the six research firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $102.00.

A number of research firms have weighed in on PFBC. Janney Montgomery Scott initiated coverage on Preferred Bank in a report on Tuesday. They set a “neutral” rating and a $100.00 target price for the company. Zacks Research lowered shares of Preferred Bank from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 26th. Stephens reaffirmed a “positive” rating on shares of Preferred Bank in a report on Monday, January 26th. Piper Sandler cut their price target on shares of Preferred Bank from $121.00 to $111.00 and set an “overweight” rating for the company in a report on Monday, January 26th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Preferred Bank in a research note on Monday, December 29th.

Hedge Funds Weigh In On Preferred Bank

A number of hedge funds and other institutional investors have recently bought and sold shares of PFBC. EverSource Wealth Advisors LLC increased its position in shares of Preferred Bank by 1,224.0% during the second quarter. EverSource Wealth Advisors LLC now owns 331 shares of the bank’s stock valued at $29,000 after buying an additional 306 shares during the period. Quarry LP raised its holdings in shares of Preferred Bank by 1,992.0% during the third quarter. Quarry LP now owns 523 shares of the bank’s stock valued at $47,000 after purchasing an additional 498 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Preferred Bank during the 3rd quarter valued at about $70,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Preferred Bank during the 4th quarter valued at about $91,000. Finally, Clearstead Advisors LLC boosted its holdings in shares of Preferred Bank by 192.1% in the fourth quarter. Clearstead Advisors LLC now owns 1,072 shares of the bank’s stock worth $101,000 after buying an additional 705 shares during the last quarter. Hedge funds and other institutional investors own 72.77% of the company’s stock.

Preferred Bank Stock Performance

NASDAQ PFBC opened at $86.99 on Tuesday. The company has a market capitalization of $1.26 billion, a PE ratio of 8.46 and a beta of 0.65. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.07. Preferred Bank has a 52-week low of $71.90 and a 52-week high of $103.05. The company has a 50-day simple moving average of $93.58 and a 200 day simple moving average of $92.87.

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

Preferred Bank Announces Dividend

The business also recently disclosed an annual dividend, which was paid on Tuesday, January 20th. Investors of record on Tuesday, January 6th were given a $3.20 dividend. This represents a dividend yield of 336.0%. The ex-dividend date was Tuesday, January 6th. 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.