Preferred Bank (NASDAQ:PFBC) Receives Average Recommendation of “Hold” from Analysts

Shares of Preferred Bank (NASDAQ:PFBC) have received a consensus recommendation of “Hold” from the seven brokerages that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $102.00.

Several analysts have recently commented on PFBC shares. Brean Capital downgraded shares of Preferred Bank from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Stephens reiterated a “positive” rating on shares of Preferred Bank in a research report on Monday, January 26th. Piper Sandler raised their price target on shares of Preferred Bank from $105.00 to $111.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Finally, Janney Montgomery Scott assumed coverage on shares of Preferred Bank in a research note on Tuesday, February 24th. They issued a “neutral” rating and a $100.00 price target for the company.

Preferred Bank Stock Up 0.3%

Shares of NASDAQ:PFBC opened at $95.04 on Friday. Preferred Bank has a 1 year low of $79.60 and a 1 year high of $103.05. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.07 and a quick ratio of 1.06. The business’s 50-day moving average is $91.64 and its 200-day moving average is $92.71. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 8.90 and a beta of 0.56.

Preferred Bank (NASDAQ:PFBC) last released its earnings results on Wednesday, April 22nd. The bank reported $2.53 EPS for the quarter, topping the consensus estimate of $2.48 by $0.05. Preferred Bank had a return on equity of 17.52% and a net margin of 26.49%.The business had revenue of $69.62 million during the quarter, compared to analysts’ expectations of $71.76 million. Equities research analysts predict that Preferred Bank will post 10.58 earnings per share for the current year.

Preferred Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 21st. Stockholders of record on Tuesday, April 7th were paid a $0.80 dividend. The ex-dividend date was Tuesday, April 7th. This represents a $3.20 annualized dividend and a dividend yield of 3.4%. Preferred Bank’s dividend payout ratio (DPR) is currently 29.96%.

Institutional Trading of Preferred Bank

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Preferred Bank by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,266 shares of the bank’s stock worth $608,000 after acquiring an additional 202 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Preferred Bank by 19.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 25,931 shares of the bank’s stock worth $2,169,000 after purchasing an additional 4,158 shares during the period. Jane Street Group LLC raised its position in shares of Preferred Bank by 81.0% during the first quarter. Jane Street Group LLC now owns 66,428 shares of the bank’s stock worth $5,557,000 after purchasing an additional 29,729 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 purchasing an additional 306 shares in the last quarter. Finally, Jump Financial LLC lifted its holdings in shares of Preferred Bank by 148.7% in the 2nd quarter. Jump Financial LLC now owns 14,225 shares of the bank’s stock worth $1,231,000 after purchasing an additional 8,505 shares in the last quarter. 72.77% of the stock is owned by institutional investors.

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.