Preferred Bank (NASDAQ:PFBC) Receives $86.25 Average PT from Analysts

Shares of Preferred Bank (NASDAQ:PFBC – Get Rating) have been given a consensus recommendation of “Hold” by the six brokerages that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $86.25.

Several brokerages have issued reports on PFBC. StockNews.com downgraded Preferred Bank from a “buy” rating to a “hold” rating in a report on Tuesday, November 22nd. DA Davidson cut their price target on Preferred Bank from $82.00 to $76.00 and set a “neutral” rating for the company in a report on Friday.

Institutional Investors Weigh In On Preferred Bank

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Preferred Bank by 1.8% in the third quarter. Vanguard Group Inc. now owns 921,337 shares of the bank’s stock worth $60,099,000 after purchasing an additional 16,033 shares during the period. State Street Corp increased its position in shares of Preferred Bank by 15.9% in the first quarter. State Street Corp now owns 646,205 shares of the bank’s stock worth $47,877,000 after purchasing an additional 88,699 shares during the period. Boston Partners increased its position in shares of Preferred Bank by 4.7% in the third quarter. Boston Partners now owns 300,282 shares of the bank’s stock worth $20,104,000 after purchasing an additional 13,467 shares during the period. Hsbc Holdings PLC increased its position in shares of Preferred Bank by 2.6% in the first quarter. Hsbc Holdings PLC now owns 272,485 shares of the bank’s stock worth $20,240,000 after purchasing an additional 6,994 shares during the period. Finally, Philadelphia Financial Management of San Francisco LLC increased its position in shares of Preferred Bank by 25.8% in the third quarter. Philadelphia Financial Management of San Francisco LLC now owns 212,065 shares of the bank’s stock worth $13,833,000 after purchasing an additional 43,437 shares during the period. Institutional investors and hedge funds own 71.08% of the company’s stock.

Preferred Bank Trading Up 0.3 %

Shares of Preferred Bank stock opened at $69.15 on Friday. The business has a fifty day simple moving average of $73.38 and a two-hundred day simple moving average of $71.48. Preferred Bank has a 1 year low of $64.10 and a 1 year high of $81.97. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 7.93 and a beta of 1.12. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.04 and a quick ratio of 1.04.

Preferred Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 20th. Stockholders of record on Friday, January 6th were issued a dividend of $0.55 per share. The ex-dividend date was Thursday, January 5th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.18%. This is an increase from Preferred Bank’s previous quarterly dividend of $0.43. Preferred Bank’s dividend payout ratio (DPR) is currently 25.23%.

About Preferred Bank

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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 accepts checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.