Preferred Bank (PFBC) Receives Consensus Rating of “Buy” from Brokerages
Preferred Bank (NASDAQ:PFBC) has received a consensus rating of “Buy” from the six ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $35.50.
A number of research analysts have recently commented on PFBC shares. FBR & Co reaffirmed a “buy” rating on shares of Preferred Bank in a research note on Thursday, April 20th. Zacks Investment Research cut Preferred Bank from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. BidaskClub cut Preferred Bank from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. ValuEngine raised Preferred Bank from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Stephens raised Preferred Bank from an “equal weight” rating to an “overweight” rating in a research note on Monday, July 10th.
Preferred Bank (NASDAQ:PFBC) traded up 1.18% during midday trading on Friday, reaching $56.39. The company’s stock had a trading volume of 44,814 shares. Preferred Bank has a 12-month low of $32.17 and a 12-month high of $58.98. The company’s 50-day moving average is $54.32 and its 200 day moving average is $53.55. The firm has a market cap of $809.08 million, a price-to-earnings ratio of 19.36 and a beta of 0.97.
Preferred Bank (NASDAQ:PFBC) last released its earnings results on Tuesday, July 18th. The bank reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.05. The firm had revenue of $32.55 million for the quarter, compared to analysts’ expectations of $31.78 million. Preferred Bank had a return on equity of 14.18% and a net margin of 28.91%. Equities analysts forecast that Preferred Bank will post $3.21 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Friday, July 7th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $0.80 annualized dividend and a yield of 1.42%. This is a boost from Preferred Bank’s previous quarterly dividend of $0.18. Preferred Bank’s dividend payout ratio is 27.49%.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Federated Investors Inc. PA boosted its position in shares of Preferred Bank by 2.0% in the second quarter. Federated Investors Inc. PA now owns 43,082 shares of the bank’s stock valued at $2,304,000 after buying an additional 849 shares during the period. Cadence Capital Management LLC boosted its position in shares of Preferred Bank by 5.8% in the second quarter. Cadence Capital Management LLC now owns 25,004 shares of the bank’s stock valued at $1,337,000 after buying an additional 1,366 shares during the period. Marshall Wace North America L.P. boosted its position in shares of Preferred Bank by 2.3% in the second quarter. Marshall Wace North America L.P. now owns 20,177 shares of the bank’s stock valued at $1,069,000 after buying an additional 454 shares during the period. Alps Advisors Inc. boosted its position in shares of Preferred Bank by 0.3% in the second quarter. Alps Advisors Inc. now owns 8,853 shares of the bank’s stock valued at $473,000 after buying an additional 23 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in shares of Preferred Bank by 5.1% in the second quarter. Advisors Asset Management Inc. now owns 18,970 shares of the bank’s stock valued at $1,014,000 after buying an additional 929 shares during the period. 75.01% of the stock is currently owned by institutional investors.
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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