Preferred Bank (NASDAQ:PFBC) has received an average rating of “Buy” from the nine analysts that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $72.60.
Several equities research analysts have issued reports on the stock. Sandler O’Neill reaffirmed a “buy” rating and set a $73.00 price target on shares of Preferred Bank in a research note on Tuesday, January 23rd. B. Riley reaffirmed a “buy” rating and set a $76.00 price target on shares of Preferred Bank in a research note on Wednesday, January 24th. Zacks Investment Research raised shares of Preferred Bank from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research note on Saturday, October 28th. BidaskClub raised shares of Preferred Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. Finally, ValuEngine cut shares of Preferred Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 1st.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its position in shares of Preferred Bank by 80.4% in the third quarter. BNP Paribas Arbitrage SA now owns 2,415 shares of the bank’s stock worth $146,000 after acquiring an additional 1,076 shares during the last quarter. Stevens Capital Management LP acquired a new stake in shares of Preferred Bank in the third quarter worth approximately $237,000. Voya Investment Management LLC acquired a new stake in shares of Preferred Bank in the second quarter worth approximately $269,000. Eqis Capital Management Inc. boosted its position in shares of Preferred Bank by 26.6% in the fourth quarter. Eqis Capital Management Inc. now owns 5,577 shares of the bank’s stock worth $328,000 after acquiring an additional 1,172 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of Preferred Bank in the second quarter worth approximately $369,000. 80.12% of the stock is currently owned by institutional investors and hedge funds.
Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings results on Monday, January 22nd. The bank reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.08. Preferred Bank had a net margin of 26.51% and a return on equity of 16.69%. The company had revenue of $35.78 million for the quarter, compared to analysts’ expectations of $36.37 million. sell-side analysts predict that Preferred Bank will post 4.57 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, January 22nd. Investors of record on Monday, January 8th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, January 5th. This is a boost from Preferred Bank’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 1.38%. Preferred Bank’s dividend payout ratio (DPR) is currently 29.63%.
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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