Preferred Bank (NASDAQ:PFBC)‘s stock had its “buy” rating reaffirmed by research analysts at FBR & Co in a note issued to investors on Wednesday.

PFBC has been the topic of several other reports. BidaskClub upgraded shares of Preferred Bank from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Zacks Investment Research upgraded shares of Preferred Bank from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Saturday, June 24th. ValuEngine upgraded shares of Preferred Bank from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Stephens assumed coverage on shares of Preferred Bank in a research note on Thursday, April 6th. They set an “equal weight” rating on the stock. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $45.33.

Preferred Bank (NASDAQ PFBC) traded down 1.11% during midday trading on Wednesday, reaching $57.04. 91,309 shares of the company were exchanged. The stock has a market capitalization of $752.24 million, a P/E ratio of 19.60 and a beta of 0.96. Preferred Bank has a 52 week low of $31.25 and a 52 week high of $58.98. The firm’s 50 day moving average price is $52.95 and its 200-day moving average price is $53.22.

Preferred Bank (NASDAQ:PFBC) last announced its earnings results on Tuesday, July 18th. The bank reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.05. Preferred Bank had a net margin of 28.91% and a return on equity of 14.18%. The company had revenue of $32.55 million for the quarter, compared to analysts’ expectations of $31.78 million. Equities analysts forecast that Preferred Bank will post $3.20 EPS for the current fiscal year.

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Institutional investors have recently made changes to their positions in the company. Aperio Group LLC increased its position in shares of Preferred Bank by 9.0% in the second quarter. Aperio Group LLC now owns 5,487 shares of the bank’s stock worth $293,000 after buying an additional 455 shares in the last quarter. Eqis Capital Management Inc. increased its position in shares of Preferred Bank by 9.4% in the second quarter. Eqis Capital Management Inc. now owns 4,486 shares of the bank’s stock worth $240,000 after buying an additional 385 shares during the period. Nuveen Asset Management LLC increased its position in shares of 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. Goldman Sachs Group Inc. increased its position in shares of Preferred Bank by 41.5% in the first quarter. Goldman Sachs Group Inc. now owns 20,265 shares of the bank’s stock worth $1,087,000 after buying an additional 5,948 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Preferred Bank by 38.8% in the first quarter. AQR Capital Management LLC now owns 142,005 shares of the bank’s stock worth $7,620,000 after buying an additional 39,702 shares during the period. 75.67% of the stock is owned by institutional investors and hedge funds.

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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