Preferred Bank (NASDAQ:PFBC) has been assigned an average broker rating score of 1.25 (Strong Buy) from the four analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a buy recommendation and three have issued a strong buy recommendation on the company.
Brokers have set a 12 month consensus price objective of $37.50 for the company and are predicting that the company will post $0.63 earnings per share for the current quarter, according to Zacks. Zacks has also given Preferred Bank an industry rank of 178 out of 265 based on the ratings given to related companies.
PFBC has been the subject of a number of research reports. Zacks Investment Research lowered Preferred Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, June 28th. FBR & Co raised 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 for the company in a research note on Thursday, August 25th.
Preferred Bank (NASDAQ:PFBC) opened at 35.75 on Tuesday. Preferred Bank has a one year low of $26.35 and a one year high of $36.82. The stock has a 50 day moving average price of $34.95 and a 200-day moving average price of $32.15. The firm has a market cap of $496.46 million, a P/E ratio of 15.74 and a beta of 0.84.
Preferred Bank (NASDAQ:PFBC) last announced its earnings results on Wednesday, July 20th. The company reported $0.61 earnings per share for the quarter, beating the Zacks’ 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%. Analysts predict that Preferred Bank will post $2.43 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, October 7th will be given a $0.15 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $0.60 dividend on an annualized basis and a yield of 1.68%. Preferred Bank’s payout ratio is 26.32%.
A number of hedge funds have recently made changes to their positions in PFBC. MAI Capital Management raised its stake in shares of Preferred Bank by 3.3% in the second quarter. MAI Capital Management now owns 14,747 shares of the company’s stock worth $426,000 after buying an additional 471 shares during the last quarter. Kennedy Capital Management Inc. raised its stake in shares of Preferred Bank by 31.8% in the first quarter. Kennedy Capital Management Inc. now owns 101,057 shares of the company’s stock worth $3,057,000 after buying an additional 24,379 shares during the last quarter. Palouse Capital Management Inc. purchased a new stake in shares of Preferred Bank during the second quarter worth approximately $202,000. Geode Capital Management LLC raised its stake in shares of Preferred Bank by 5.5% in the first quarter. Geode Capital Management LLC now owns 90,330 shares of the company’s stock worth $2,732,000 after buying an additional 4,749 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Preferred Bank by 3.5% in the first quarter. Royal Bank of Canada now owns 65,157 shares of the company’s stock worth $1,971,000 after buying an additional 2,178 shares during the last quarter. Hedge funds and other institutional investors own 60.23% of the company’s stock.
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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