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Preferred Bank Los Angeles (NASDAQ:PFBC) reached a new 52-week high on Wednesday , Stock Ratings Network reports. The company traded as high as $23.18 and last traded at $23.18, with a volume of 11,976 shares trading hands. The stock had previously closed at $22.69.

A number of analysts have recently weighed in on PFBC shares. Analysts at Zacks upgraded shares of Preferred Bank Los Angeles from a “neutral” rating to an “outperform” rating in a research note on Tuesday, February 4th. They now have a $23.20 price target on the stock. Analysts at Sandler O’Neill upgraded shares of Preferred Bank Los Angeles from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Five equities research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average price target of $22.73.

The stock has a 50-day moving average of $21.47 and a 200-day moving average of $19.43. The company has a market cap of $306.9 million and a P/E ratio of 15.98.

Preferred Bank is a commercial bank in California focusing on the Chinese-American market. It operates through its subsidiary, PB Investment and Consulting, Inc (NASDAQ:PFBC).

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