Preferred Bank (PFBC) Cut to “Hold” at Zacks Investment Research

Preferred Bank (NASDAQ:PFBC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Preferred Bank is one of the largest independent commercial banks in California focusing on the Chinese-American market. The bank is chartered by the State of California, and its deposits are insured by the Federal Deposit Insurance Corporation, or FDIC, to the maximum extent permitted by law. The Company conducts its banking business from its main office in Los Angeles, California, and through ten full-service branch banking offices in Alhambra, Century City, Chino Hills, City of Industry, Torrance, Arcadia, Irvine, Diamond Bar, Santa Monica and Valencia, California. Preferred Bank offers a broad range of deposit and loan products and services to both commercial and consumer customers. The bank provides personalized deposit services as well as real estate finance, commercial loans and trade finance to small and mid- sized businesses, entrepreneurs, real estate developers, professionals and high net worth individuals. Preferred Bank continues to benefit from the significant migration to Southern California of “

Other research analysts have also recently issued reports about the stock. BidaskClub raised shares of Preferred Bank from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. UBS Group raised shares of Preferred Bank from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, January 9th. Raymond James Financial raised shares of Preferred Bank from an “outperform” rating to a “strong-buy” rating and set a $71.00 target price on the stock in a research report on Tuesday, January 9th. They noted that the move was a valuation call. B. Riley reissued a “buy” rating and set a $76.00 target price on shares of Preferred Bank in a research report on Wednesday, January 24th. Finally, Sandler O’Neill reissued a “buy” rating and set a $73.00 target price on shares of Preferred Bank in a research report on Tuesday, January 23rd. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $72.60.

Preferred Bank (PFBC) opened at $61.58 on Wednesday. The firm has a market cap of $817.00, a P/E ratio of 20.73, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.04 and a current ratio of 1.04. Preferred Bank has a 12-month low of $46.88 and a 12-month high of $67.65.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Monday, January 22nd. The bank reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.08. The firm had revenue of $35.78 million for the quarter, compared to analysts’ expectations of $36.37 million. Preferred Bank had a net margin of 26.51% and a return on equity of 16.69%. equities research analysts predict that Preferred Bank will post 4.57 EPS for the current year.

Large investors have recently modified their holdings of the stock. Acrospire Investment Management LLC increased its stake in shares of Preferred Bank by 6.1% in the third quarter. Acrospire Investment Management LLC now owns 3,472 shares of the bank’s stock worth $124,000 after buying an additional 200 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake 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 buying an additional 1,076 shares during the last quarter. US Bancorp DE increased its stake in shares of Preferred Bank by 14.5% in the first quarter. US Bancorp DE now owns 3,402 shares of the bank’s stock worth $183,000 after buying an additional 431 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Preferred Bank by 86.9% in the first quarter. SG Americas Securities LLC now owns 3,726 shares of the bank’s stock worth $200,000 after buying an additional 1,732 shares during the last quarter. Finally, Palouse Capital Management Inc. bought a new stake in shares of Preferred Bank in the second quarter worth $202,000. Institutional investors and hedge funds own 80.48% of the company’s stock.

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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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