Preferred Bank (NASDAQ:PFBC) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report released on Friday.

A number of other equities analysts also recently issued reports on the company. Zacks Investment Research downgraded Preferred Bank from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. FBR & Co reaffirmed a “buy” rating and issued a $70.00 price target (up from $65.00) on shares of Preferred Bank in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $68.50.

Preferred Bank (PFBC) traded up $0.73 during mid-day trading on Friday, hitting $63.33. 117,174 shares of the company were exchanged, compared to its average volume of 58,621. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.04 and a quick ratio of 1.04. Preferred Bank has a 12-month low of $44.35 and a 12-month high of $66.58. The stock has a market capitalization of $825.57, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 1.88 and a beta of 0.92.

Preferred Bank (NASDAQ:PFBC) last released its earnings results on Tuesday, October 24th. The bank reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.09. The firm had revenue of $36.67 million for the quarter, compared to analyst estimates of $34.68 million. Preferred Bank had a net margin of 29.33% and a return on equity of 15.22%. sell-side analysts forecast that Preferred Bank will post 3.34 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in PFBC. Teachers Advisors LLC boosted its holdings in Preferred Bank by 30.0% in the first quarter. Teachers Advisors LLC now owns 30,803 shares of the bank’s stock valued at $1,653,000 after purchasing an additional 7,116 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Preferred Bank by 10.2% in the first quarter. Vanguard Group Inc. now owns 522,054 shares of the bank’s stock valued at $28,013,000 after purchasing an additional 48,266 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Preferred Bank by 9.0% in the first quarter. Geode Capital Management LLC now owns 111,798 shares of the bank’s stock valued at $5,999,000 after purchasing an additional 9,218 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Preferred Bank by 7.0% in the first quarter. Dimensional Fund Advisors LP now owns 474,744 shares of the bank’s stock valued at $25,475,000 after purchasing an additional 30,981 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in Preferred Bank by 11.2% in the first quarter. Morgan Stanley now owns 75,133 shares of the bank’s stock valued at $4,033,000 after purchasing an additional 7,558 shares in the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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