Preferred Bank (NASDAQ:PFBC) Price Target Cut to $93.00 by Analysts at Stephens

Preferred Bank (NASDAQ:PFBC) had its target price decreased by Stephens from $105.00 to $93.00 in a research note released on Monday morning, Marketbeat.com reports. Stephens currently has an equal weight rating on the bank’s stock.

Several other research analysts have also issued reports on PFBC. Zacks Research lowered shares of Preferred Bank from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 26th. Piper Sandler reduced their price objective on Preferred Bank from $121.00 to $111.00 and set an “overweight” rating on the stock in a research report on Monday. DA Davidson decreased their price objective on Preferred Bank from $108.00 to $104.00 and set a “neutral” rating on the stock in a report on Wednesday, October 22nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Preferred Bank in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Preferred Bank currently has an average rating of “Moderate Buy” and an average price target of $102.67.

Preferred Bank Stock Down 0.2%

Shares of NASDAQ PFBC opened at $83.54 on Monday. The business has a 50-day moving average of $95.87 and a 200-day moving average of $93.35. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 8.05 and a beta of 0.66. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. Preferred Bank has a 12 month low of $71.90 and a 12 month high of $103.05.

Preferred Bank (NASDAQ:PFBC) last announced its earnings results on Thursday, January 22nd. The bank reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.01. The business had revenue of $78.07 million during the quarter, compared to analyst estimates of $74.54 million. Preferred Bank had a net margin of 26.41% and a return on equity of 17.31%. Sell-side analysts expect that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Preferred Bank Announces Dividend

The business also recently declared an annual dividend, which was paid on Tuesday, January 20th. Investors of record on Tuesday, January 6th were given a dividend of $3.20 per share. This represents a yield of 336.0%. The ex-dividend date was Tuesday, January 6th. Preferred Bank’s dividend payout ratio (DPR) is presently 30.83%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Qube Research & Technologies Ltd grew its holdings in Preferred Bank by 288.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 74,636 shares of the bank’s stock worth $6,746,000 after acquiring an additional 55,418 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Preferred Bank by 15.7% during the third quarter. American Century Companies Inc. now owns 337,804 shares of the bank’s stock worth $30,534,000 after purchasing an additional 45,946 shares during the period. Denali Advisors LLC purchased a new stake in shares of Preferred Bank during the third quarter worth about $3,091,000. Jane Street Group LLC grew its stake in shares of Preferred Bank by 81.0% in the first quarter. Jane Street Group LLC now owns 66,428 shares of the bank’s stock worth $5,557,000 after purchasing an additional 29,729 shares during the last quarter. Finally, WINTON GROUP Ltd increased its holdings in Preferred Bank by 217.1% during the 2nd quarter. WINTON GROUP Ltd now owns 42,116 shares of the bank’s stock valued at $3,645,000 after purchasing an additional 28,835 shares during the period. Institutional investors own 72.77% of the company’s stock.

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.