Preferred Bank (NASDAQ:PFBC) Stock Has Consensus Price Target of $113.33 According to Analysts

Preferred Bank (NASDAQ:PFBC) has earned an average rating of “Moderate Buy” from the seven analysts that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $113.33.

Several equities research analysts have recently issued reports on PFBC shares. Piper Sandler raised their price objective on shares of Preferred Bank from $120.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, October 26th. Benchmark raised shares of Preferred Bank to a “strong-buy” rating in a report on Wednesday, September 23rd. Weiss Ratings raised shares of Preferred Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Finally, Stephens boosted their price objective on shares of Preferred Bank from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio bought a new stake in shares of Preferred Bank in the 2nd quarter valued at approximately $25,000. Integrated Wealth Concepts LLC acquired a new position in shares of Preferred Bank in the 2nd quarter worth approximately $55,000. Nykredit A S bought a new position in shares of Preferred Bank during the 2nd quarter worth approximately $102,000. Great Lakes Advisors LLC bought a new position in shares of Preferred Bank during the 2nd quarter worth approximately $201,000. Finally, Vise Technologies Inc. acquired a new stake in Preferred Bank in the 3rd quarter valued at $234,000. Institutional investors own 72.77% of the company’s stock.

Preferred Bank Stock Performance

Shares of NASDAQ PFBC opened at $105.65 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average is $104.85 and its two-hundred day moving average is $98.33. The company has a market cap of $1.52 billion, a P/E ratio of 9.76 and a beta of 0.57. 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 quarterly earnings results on Friday, October 23rd. The bank reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.04. Preferred Bank had a return on equity of 16.84% and a net margin of 26.20%. The company had revenue of $71.70 million during the quarter, compared to analyst estimates of $73.10 million. On average, equities analysts expect that Preferred Bank will post 10.82 EPS for the current year.

Preferred Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 19th. Investors of record on Monday, October 5th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, October 5th. This represents a $3.20 dividend on an annualized basis and a yield of 3.0%. Preferred Bank’s dividend payout ratio (DPR) is 29.55%.

About Preferred Bank

Preferred Bank (NASDAQ: PFBC) is a commercial bank headquartered in Los Angeles, California. Founded in 1991, the bank provides banking and financial services to businesses, professionals and individuals, with a particular focus on commercial banking and relationship-based service.

The bank’s principal offerings include commercial and industrial loans, commercial real estate financing, construction and residential real estate loans, and consumer lending. Preferred Bank also provides deposit accounts, cash-management services, online banking and other treasury-management solutions for business and personal customers.

Preferred Bank operates a network of full-service branches in California and New York, serving customers in major metropolitan markets including the greater Los Angeles area, the San Francisco Bay Area and New York City.