Preferred Bank (NASDAQ:PFBC) Earns “Equal Weight” Rating from Stephens

Stephens reissued their equal weight rating on shares of Preferred Bank (NASDAQ:PFBC) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $91.00 target price on the bank’s stock.

A number of other equities analysts have also weighed in on PFBC. Piper Sandler reduced their target price on shares of Preferred Bank from $108.00 to $96.00 and set an “overweight” rating for the company in a research note on Tuesday. DA Davidson reduced their price objective on Preferred Bank from $95.00 to $90.00 and set a “neutral” rating for the company in a research report on Monday.

Preferred Bank Trading Up 0.7 %

NASDAQ PFBC opened at $80.42 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.08 and a quick ratio of 1.08. The stock’s 50-day moving average is $82.15 and its 200-day moving average is $86.73. Preferred Bank has a one year low of $71.43 and a one year high of $99.78. The firm has a market cap of $1.16 billion, a P/E ratio of 8.35 and a beta of 0.71.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Friday, April 25th. The bank reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.10). The company had revenue of $65.96 million during the quarter, compared to the consensus estimate of $70.78 million. Preferred Bank had a net margin of 25.00% and a return on equity of 17.80%. During the same period in the previous year, the firm posted $2.44 EPS. Sell-side analysts anticipate that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Preferred Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend was Monday, April 7th. Preferred Bank’s dividend payout ratio is presently 31.85%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Barclays PLC boosted its stake in shares of Preferred Bank by 70.9% during the 3rd quarter. Barclays PLC now owns 27,430 shares of the bank’s stock worth $2,201,000 after buying an additional 11,379 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Preferred Bank by 24.0% during the third quarter. JPMorgan Chase & Co. now owns 186,107 shares of the bank’s stock valued at $14,935,000 after purchasing an additional 35,979 shares during the last quarter. SG Americas Securities LLC grew its stake in Preferred Bank by 59.6% in the fourth quarter. SG Americas Securities LLC now owns 5,845 shares of the bank’s stock valued at $505,000 after purchasing an additional 2,183 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Preferred Bank by 2.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 16,272 shares of the bank’s stock valued at $1,406,000 after purchasing an additional 334 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Preferred Bank by 12.7% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,498 shares of the bank’s stock worth $302,000 after purchasing an additional 394 shares during the last quarter. Institutional investors own 72.77% of the company’s stock.

Preferred Bank Company Profile

Preferred Bank provides various commercial banking products and services to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals, and high net worth individuals. The company accepts checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.