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

Preferred Bank (NASDAQ:PFBC) has been given an average rating of “Hold” by the seven analysts that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $102.00.

PFBC has been the topic of a number of analyst reports. Zacks Research lowered shares of Preferred Bank from a “strong-buy” rating to a “hold” rating in a report on Friday, December 26th. Stephens reissued a “positive” rating on shares of Preferred Bank in a report on Monday, January 26th. Brean Capital cut Preferred Bank from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Piper Sandler decreased their price target on 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 reaffirmed a “buy (b)” rating on shares of Preferred Bank in a research report on Monday, December 29th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Boston Partners raised its stake in Preferred Bank by 1.3% during the 2nd quarter. Boston Partners now owns 532,085 shares of the bank’s stock worth $46,428,000 after acquiring an additional 6,963 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Preferred Bank by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 494,827 shares of the bank’s stock worth $46,727,000 after purchasing an additional 16,348 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 4,896 shares during the last quarter. Nuveen LLC increased its position in shares of Preferred Bank by 5.4% during the fourth quarter. Nuveen LLC now owns 356,065 shares of the bank’s stock worth $33,623,000 after purchasing an additional 18,309 shares in the last quarter. Finally, American Century Companies Inc. increased its position 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 in the last quarter. 72.77% of the stock is owned by hedge funds and other institutional investors.

Preferred Bank Stock Up 1.6%

PFBC stock opened at $88.99 on Friday. The company’s 50 day moving average price is $90.02 and its 200 day moving average price is $92.28. 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 fifty-two week low of $71.90 and a fifty-two week high of $103.05. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 8.57 and a beta of 0.62.

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

Preferred Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 21st. Stockholders of record on Tuesday, April 7th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Tuesday, April 7th. Preferred Bank’s payout ratio is currently 30.83%.

Preferred Bank Company Profile

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.