Brokerages Set Preferred Bank (NASDAQ:PFBC) Price Target at $102.00

Preferred Bank (NASDAQ:PFBC) has earned a consensus rating of “Hold” from the seven research firms that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $102.00.

A number of analysts recently weighed in on PFBC shares. Piper Sandler increased their price objective 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. Weiss Ratings raised shares of Preferred Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 8th.

Preferred Bank Stock Performance

NASDAQ:PFBC opened at $107.16 on Monday. The firm has a market capitalization of $1.55 billion, a P/E ratio of 10.03 and a beta of 0.55. The business has a 50 day simple moving average of $97.49 and a 200 day simple moving average of $94.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.07 and a quick ratio of 1.06. Preferred Bank has a 12-month low of $81.50 and a 12-month high of $112.26.

Preferred Bank (NASDAQ:PFBC) last issued its earnings results on Wednesday, April 22nd. The bank reported $2.53 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.05. The firm had revenue of $69.62 million for the quarter, compared to analyst estimates of $71.76 million. Preferred Bank had a return on equity of 17.52% and a net margin of 26.49%. Equities research analysts predict that Preferred Bank will post 10.67 EPS for the current year.

Preferred Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be given a dividend of $0.80 per share. The ex-dividend date is Tuesday, July 7th. This represents a $3.20 annualized dividend and a dividend yield of 3.0%. Preferred Bank’s payout ratio is currently 29.96%.

Institutional Trading of Preferred Bank

Several large investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd raised its stake in Preferred Bank by 1.1% during the 4th quarter. WINTON GROUP Ltd now owns 14,136 shares of the bank’s stock valued at $1,335,000 after acquiring an additional 150 shares in the last quarter. Royce & Associates LP increased its holdings in shares of Preferred Bank by 0.8% during the fourth quarter. Royce & Associates LP now owns 25,200 shares of the bank’s stock valued at $2,380,000 after purchasing an additional 202 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Preferred Bank by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,266 shares of the bank’s stock valued at $608,000 after purchasing an additional 202 shares in the last quarter. Horizon Investments LLC raised its stake in shares of Preferred Bank by 3.5% during the fourth quarter. Horizon Investments LLC now owns 6,231 shares of the bank’s stock valued at $583,000 after purchasing an additional 209 shares in the last quarter. Finally, Aquatic Capital Management LLC lifted its holdings in Preferred Bank by 6.4% in the third quarter. Aquatic Capital Management LLC now owns 3,954 shares of the bank’s stock worth $357,000 after purchasing an additional 238 shares during the period. 72.77% of the stock is currently owned by institutional investors and hedge funds.

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.