Preferred Bank (NASDAQ:PFBC) announced a quarterly dividend on Friday, September 23rd. Investors of record on Friday, October 7th will be given a dividend of 0.15 per share on Friday, October 21st. This represents a $0.60 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Wednesday, October 5th.
Shares of Preferred Bank (NASDAQ:PFBC) opened at 35.10 on Friday. The company has a 50-day moving average price of $34.90 and a 200-day moving average price of $32.11. The company has a market cap of $487.43 million, a PE ratio of 15.46 and a beta of 0.84. Preferred Bank has a 1-year low of $26.35 and a 1-year high of $36.82.
Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. Preferred Bank had a return on equity of 11.83% and a net margin of 28.55%. Equities research analysts expect that Preferred Bank will post $2.43 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Group LTD raised its stake in Preferred Bank by 107.1% in the second quarter. BlackRock Group LTD now owns 3,815 shares of the company’s stock worth $110,000 after buying an additional 1,973 shares during the last quarter. BlackRock Inc. raised its stake in Preferred Bank by 1,042.6% in the second quarter. BlackRock Inc. now owns 4,262 shares of the company’s stock worth $123,000 after buying an additional 3,889 shares during the last quarter. BlackRock Advisors LLC raised its stake in Preferred Bank by 7.4% in the second quarter. BlackRock Advisors LLC now owns 6,463 shares of the company’s stock worth $187,000 after buying an additional 448 shares during the last quarter. American International Group Inc. raised its stake in Preferred Bank by 2.2% in the second quarter. American International Group Inc. now owns 6,990 shares of the company’s stock worth $202,000 after buying an additional 150 shares during the last quarter. Finally, Highbridge Capital Management LLC bought a new stake in Preferred Bank during the second quarter worth about $217,000. Institutional investors own 60.23% of the company’s stock.
Several analysts have issued reports on PFBC shares. Zacks Investment Research lowered Preferred Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, June 28th. FBR & Co boosted their target price on Preferred Bank from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, July 22nd. Finally, Raymond James Financial Inc. upgraded Preferred Bank from an “outperform” rating to a “strong-buy” rating and set a $15.00 target price on the stock in a research note on Thursday, August 25th.
About Preferred Bank
Preferred Bank is a commercial bank, which offers financial services to individuals and companies in Southern California. The Bank provides deposit services, as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals and individuals.
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