Preferred Bank (NASDAQ:PFBC) Stock Has Average Price Target of $108.50 According to Brokerages

Shares of Preferred Bank (NASDAQ:PFBC) have received a consensus rating of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $108.50.

Several equities analysts recently issued reports on PFBC shares. Benchmark upgraded Preferred Bank to a “strong-buy” rating in a research report on Wednesday, September 23rd. Stephens raised their target price on shares of Preferred Bank from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Weiss Ratings upgraded shares of Preferred Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday. Finally, Piper Sandler lifted their price target on shares of Preferred Bank from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, October 1st.

Institutional Investors Weigh In On Preferred Bank

Several institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new position in Preferred Bank during the second quarter worth $25,000. Integrated Wealth Concepts LLC bought a new position in Preferred Bank in the second quarter valued at $55,000. Nykredit A S bought a new position in Preferred Bank in the second quarter valued at $102,000. Great Lakes Advisors LLC acquired a new stake in Preferred Bank in the 2nd quarter valued at $201,000. Finally, DGS Capital Management LLC acquired a new stake in Preferred Bank in the 4th quarter valued at $248,000. 72.77% of the stock is owned by institutional investors.

Preferred Bank Stock Performance

Shares of Preferred Bank stock opened at $102.58 on Wednesday. The company has a market capitalization of $1.48 billion, a PE ratio of 9.38 and a beta of 0.57. Preferred Bank has a 12 month low of $81.50 and a 12 month high of $112.26. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.44. The stock’s fifty day simple moving average is $105.09 and its 200 day simple moving average is $100.50.

Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Wednesday, July 22nd. The bank reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.13. The firm had revenue of $73.47 million for the quarter, compared to analyst estimates of $73.60 million. Preferred Bank had a return on equity of 17.27% and a net margin of 26.54%. On average, research analysts predict that Preferred Bank will post 10.74 EPS for the current year.

Preferred Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 19th. Stockholders of record on Monday, October 5th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, October 5th. This represents a $3.20 annualized dividend and a dividend yield of 3.1%. Preferred Bank’s dividend payout ratio is currently 29.25%.

Preferred Bank Company Profile

Preferred Bank (NASDAQ:PFBC) is a commercial bank headquartered in Los Angeles, California. Founded in 1991, the bank provides banking and financial services to businesses, professionals, real estate investors and individuals, with a particular focus on small and medium-sized businesses and communities in California and New York.

The bank offers a range of deposit products, including checking, savings, money market accounts and certificates of deposit. Its lending activities include commercial real estate loans, commercial and industrial financing, residential real estate loans, small business loans and consumer lending.