Preferred Bank (NASDAQ:PFBC) Receives $102.00 Average Price Target from Analysts

Preferred Bank (NASDAQ:PFBC) has been assigned an average rating of “Hold” from the seven brokerages that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $102.00.

Several brokerages have weighed in on PFBC. Stephens reaffirmed a “positive” rating on shares of Preferred Bank in a research report on Monday, January 26th. Piper Sandler dropped their price objective on Preferred Bank from $121.00 to $111.00 and set an “overweight” rating on the stock in a report on Monday, January 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Preferred Bank in a research report on Monday, December 29th. Janney Montgomery Scott began coverage on shares of Preferred Bank in a research report on Tuesday. They issued a “neutral” rating and a $100.00 target price for the company. Finally, Brean Capital lowered shares of Preferred Bank from a “strong-buy” rating to a “hold” rating in a research note on Tuesday.

Preferred Bank Stock Down 0.4%

Preferred Bank stock opened at $90.77 on Tuesday. Preferred Bank has a twelve month low of $71.90 and a twelve month high of $103.05. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $1.31 billion, a PE ratio of 8.74 and a beta of 0.65. The firm’s 50 day moving average price is $92.96 and its two-hundred day moving average price is $92.83.

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

Preferred Bank Announces Dividend

The firm also recently announced an annual dividend, which was paid on Tuesday, January 20th. Shareholders 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 of this dividend was Tuesday, January 6th. Preferred Bank’s dividend payout ratio is presently 30.83%.

Institutional Trading of Preferred Bank

Several large investors have recently made changes to their positions in PFBC. Boston Partners raised its stake in shares of Preferred Bank by 1.3% in the 2nd quarter. Boston Partners now owns 532,085 shares of the bank’s stock valued at $46,428,000 after acquiring an additional 6,963 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Preferred Bank by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 494,827 shares of the bank’s stock valued at $46,727,000 after purchasing an additional 16,348 shares during the last quarter. Geode Capital Management LLC increased its position in Preferred Bank by 1.3% during the second quarter. Geode Capital Management LLC now owns 372,081 shares of the bank’s stock worth $32,205,000 after acquiring an additional 4,896 shares during the period. Nuveen LLC raised its stake in Preferred Bank by 5.4% during the 4th quarter. Nuveen LLC now owns 356,065 shares of the bank’s stock valued at $33,623,000 after purchasing an additional 18,309 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Preferred Bank by 15.7% in the 3rd quarter. American Century Companies Inc. now owns 337,804 shares of the bank’s stock valued at $30,534,000 after purchasing an additional 45,946 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.