Preferred Bank (NASDAQ:PFBC) has been given an average recommendation of “Buy” by the nine research firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $72.50.
A number of research firms recently commented on PFBC. BidaskClub raised shares of Preferred Bank from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. Zacks Investment Research cut shares of Preferred Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. UBS Group raised shares of Preferred Bank from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, January 9th. Raymond James Financial raised shares of Preferred Bank from an “outperform” rating to a “strong-buy” rating and set a $71.00 target price for the company in a research report on Tuesday, January 9th. They noted that the move was a valuation call. Finally, B. Riley reissued a “buy” rating and set a $76.00 target price on shares of Preferred Bank in a research report on Wednesday, January 24th.
Shares of Preferred Bank (NASDAQ PFBC) opened at $62.69 on Wednesday. Preferred Bank has a 52-week low of $46.88 and a 52-week high of $67.65. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $948.02, a P/E ratio of 18.55, a P/E/G ratio of 1.40 and a beta of 0.96.
Several hedge funds and other institutional investors have recently bought and sold shares of PFBC. State Street Corp raised its holdings in shares of Preferred Bank by 61.7% in the second quarter. State Street Corp now owns 388,696 shares of the bank’s stock worth $20,782,000 after buying an additional 148,363 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Preferred Bank by 68.8% in the fourth quarter. Allianz Asset Management GmbH now owns 269,229 shares of the bank’s stock worth $15,825,000 after buying an additional 109,686 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Preferred Bank by 34.8% in the fourth quarter. Millennium Management LLC now owns 291,484 shares of the bank’s stock worth $17,133,000 after buying an additional 75,177 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Preferred Bank by 118.1% in the fourth quarter. Deutsche Bank AG now owns 107,803 shares of the bank’s stock worth $6,335,000 after buying an additional 58,369 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Preferred Bank by 36.9% in the third quarter. Ameriprise Financial Inc. now owns 191,782 shares of the bank’s stock worth $11,574,000 after buying an additional 51,656 shares during the last quarter. 81.69% of the stock is owned by institutional investors and hedge funds.
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Preferred Bank Company Profile
Preferred Bank is a commercial bank. 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 high net worth individuals. The Bank offers various services, such as personal banking, business banking and treasury management.
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