Preferred Bank (NASDAQ:PFBC) was upgraded by equities researchers at Stephens from an “equal weight” rating to an “overweight” rating in a research report issued on Monday, The Fly reports.

Several other equities research analysts have also recently weighed in on PFBC. FBR & Co restated a “buy” rating on shares of Preferred Bank in a research report on Thursday, April 20th. ValuEngine upgraded shares of Preferred Bank from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research cut shares of Preferred Bank from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $45.33.

Shares of Preferred Bank (NASDAQ:PFBC) traded up 1.45% during midday trading on Monday, hitting $56.11. 59,886 shares of the stock were exchanged. The firm has a 50-day moving average of $50.94 and a 200-day moving average of $52.67. Preferred Bank has a 1-year low of $29.91 and a 1-year high of $58.12. The company has a market capitalization of $804.06 million, a P/E ratio of 20.66 and a beta of 0.96.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Wednesday, April 19th. The bank reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.01. Preferred Bank had a net margin of 28.31% and a return on equity of 13.25%. The company had revenue of $30.53 million for the quarter, compared to analysts’ expectations of $30 million. On average, equities analysts expect that Preferred Bank will post $3.07 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 21st. Shareholders of record on Friday, July 7th will be given a dividend of $0.20 per share. This is a boost from Preferred Bank’s previous quarterly dividend of $0.18. The ex-dividend date is Wednesday, July 5th. This represents a $0.80 dividend on an annualized basis and a yield of 1.45%. Preferred Bank’s payout ratio is 29.41%.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nuveen Asset Management LLC boosted its position in Preferred Bank by 52.5% in the first quarter. Nuveen Asset Management LLC now owns 530,245 shares of the bank’s stock worth $28,453,000 after buying an additional 182,564 shares during the period. Rothschild Asset Management Inc. boosted its position in Preferred Bank by 243.5% in the first quarter. Rothschild Asset Management Inc. now owns 111,121 shares of the bank’s stock worth $5,963,000 after buying an additional 78,772 shares during the period. Wellington Management Group LLP boosted its position in Preferred Bank by 38.5% in the first quarter. Wellington Management Group LLP now owns 195,104 shares of the bank’s stock worth $10,469,000 after buying an additional 54,200 shares during the period. O Shaughnessy Asset Management LLC boosted its position in Preferred Bank by 314.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 66,940 shares of the bank’s stock worth $3,592,000 after buying an additional 50,806 shares during the period. Finally, Vanguard Group Inc. boosted its position in Preferred Bank by 10.2% in the first quarter. Vanguard Group Inc. now owns 522,054 shares of the bank’s stock worth $28,013,000 after buying an additional 48,266 shares during the period. Institutional investors and hedge funds own 75.68% 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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