Preferred Bank (NASDAQ:PFBC) Receives $106.25 Consensus Price Target from Brokerages

Preferred Bank (NASDAQ:PFBC) has been given an average recommendation of “Hold” by the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $106.25.

PFBC has been the subject of several recent analyst reports. Stephens boosted their price objective on shares of Preferred Bank from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Thursday. Piper Sandler increased their target price on shares of Preferred Bank from $105.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Finally, Weiss Ratings raised shares of Preferred Bank from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th.

Preferred Bank Price Performance

PFBC stock opened at $102.96 on Friday. The stock has a 50-day simple moving average of $101.00 and a two-hundred day simple moving average of $94.91. Preferred Bank has a twelve month low of $81.50 and a twelve month high of $112.26. The firm has a market capitalization of $1.49 billion, a PE ratio of 9.41 and a beta of 0.55. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.44.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.13. Preferred Bank had a net margin of 26.54% and a return on equity of 17.27%. The firm had revenue of $73.47 million for the quarter, compared to the consensus estimate of $73.60 million. On average, equities analysts predict that Preferred Bank will post 10.72 EPS for the current fiscal year.

Preferred Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, July 7th. Preferred Bank’s dividend payout ratio (DPR) is 29.25%.

Hedge Funds Weigh In On Preferred Bank

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFBC. EverSource Wealth Advisors LLC increased its stake in Preferred Bank by 1,224.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 331 shares of the bank’s stock worth $29,000 after acquiring an additional 306 shares during the last quarter. Quarry LP grew its holdings in shares of Preferred Bank by 1,992.0% during the third quarter. Quarry LP now owns 523 shares of the bank’s stock worth $47,000 after purchasing an additional 498 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Preferred Bank during the third quarter worth about $70,000. Kemnay Advisory Services Inc. bought a new position in shares of Preferred Bank in the fourth quarter worth approximately $91,000. Finally, Clearstead Advisors LLC increased its position in shares of Preferred Bank by 192.1% in the fourth quarter. Clearstead Advisors LLC now owns 1,072 shares of the bank’s stock worth $101,000 after purchasing an additional 705 shares during the last quarter. 72.77% of the stock is currently owned by hedge funds and other institutional investors.

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.