BidaskClub upgraded shares of Preferred Bank (NASDAQ:PFBC) from a sell rating to a hold rating in a report issued on Friday.
Other research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Preferred Bank from a buy rating to a hold rating in a report on Wednesday, February 14th. UBS Group raised Preferred Bank from an outperform rating to a strong-buy rating in a report on Tuesday, January 9th. Raymond James Financial raised Preferred Bank from an outperform rating to a strong-buy rating and set a $71.00 target price on the stock in a report on Tuesday, January 9th. They noted that the move was a valuation call. ValuEngine downgraded Preferred Bank from a buy rating to a hold rating in a report on Friday, December 1st. Finally, B. Riley reaffirmed a buy rating and set a $76.00 target price on shares of Preferred Bank in a report on Wednesday, January 24th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. Preferred Bank currently has a consensus rating of Buy and an average target price of $72.60.
Shares of Preferred Bank (NASDAQ PFBC) traded up $1.15 on Friday, reaching $66.64. The company had a trading volume of 58,623 shares, compared to its average volume of 76,346. The stock has a market capitalization of $863.68, a P/E ratio of 22.44, a P/E/G ratio of 1.43 and a beta of 0.97. Preferred Bank has a 1 year low of $46.88 and a 1 year high of $67.65. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.04 and a quick ratio of 1.04.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its position in Preferred Bank by 80.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,415 shares of the bank’s stock valued at $146,000 after acquiring an additional 1,076 shares during the period. Stevens Capital Management LP acquired a new stake in Preferred Bank in the 3rd quarter valued at approximately $237,000. Capital Fund Management S.A. acquired a new stake in Preferred Bank in the 4th quarter valued at approximately $241,000. First Mercantile Trust Co. acquired a new stake in Preferred Bank in the 4th quarter valued at approximately $256,000. Finally, Teacher Retirement System of Texas acquired a new stake in Preferred Bank in the 4th quarter valued at approximately $265,000. Hedge funds and other institutional investors own 83.98% of the company’s stock.
About Preferred Bank
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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