Preferred Bank (NASDAQ:PFBC) Receives $102.00 Consensus PT from Analysts

Shares of Preferred Bank (NASDAQ:PFBC) have earned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $102.00.

Several brokerages recently issued reports on PFBC. Janney Montgomery Scott assumed coverage on Preferred Bank in a research note on Tuesday, February 24th. They set a “neutral” rating and a $100.00 price objective on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Preferred Bank in a report on Monday, December 29th. Stephens restated a “positive” rating on shares of Preferred Bank in a research report on Monday, January 26th. Zacks Research lowered shares of Preferred Bank from a “strong-buy” rating to a “hold” rating in a report on Friday, December 26th. Finally, Piper Sandler dropped their price objective on shares of Preferred Bank from $121.00 to $111.00 and set an “overweight” rating on the stock in a research note on Monday, January 26th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Amalgamated Bank boosted its stake in Preferred Bank by 3.5% during the 3rd quarter. Amalgamated Bank now owns 3,452 shares of the bank’s stock valued at $312,000 after purchasing an additional 116 shares in the last quarter. WINTON GROUP Ltd raised its stake in shares of Preferred Bank by 1.1% in the 4th quarter. WINTON GROUP Ltd now owns 14,136 shares of the bank’s stock worth $1,335,000 after buying an additional 150 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Preferred Bank by 1.4% in the second quarter. Envestnet Asset Management Inc. now owns 13,581 shares of the bank’s stock valued at $1,175,000 after buying an additional 187 shares during the period. Royce & Associates LP boosted its stake in Preferred Bank by 0.8% during the fourth quarter. Royce & Associates LP now owns 25,200 shares of the bank’s stock valued at $2,380,000 after buying an additional 202 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Preferred Bank by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,266 shares of the bank’s stock valued at $608,000 after buying an additional 202 shares in the last quarter. 72.77% of the stock is owned by institutional investors and hedge funds.

Preferred Bank Stock Down 3.4%

NASDAQ:PFBC opened at $87.72 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 8.45 and a beta of 0.65. Preferred Bank has a one year low of $71.90 and a one year high of $103.05. The stock has a 50-day simple moving average of $92.70 and a 200 day simple moving average of $92.80.

Preferred Bank (NASDAQ:PFBC) last released its earnings results on Thursday, January 22nd. The bank reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.78 by $0.01. The company had revenue of $78.07 million for the quarter, compared to the consensus estimate of $74.54 million. Preferred Bank had a return on equity of 17.31% and a net margin of 26.41%. Sell-side analysts predict that Preferred Bank will post 9.81 EPS for the current fiscal year.

Preferred Bank Announces Dividend

The business also recently declared an annual dividend, which was paid on Tuesday, January 20th. Investors of record on Tuesday, January 6th were issued a $3.20 dividend. The ex-dividend date of this dividend was Tuesday, January 6th. This represents a dividend yield of 336.0%. Preferred Bank’s dividend payout ratio (DPR) is 30.83%.

About Preferred Bank

Preferred Bank (NASDAQ: PFBC) is a California-chartered commercial bank headquartered in Los Angeles. The institution offers a full range of banking products and services to businesses and individuals, with a particular emphasis on commercial real estate lending, business banking, treasury management and deposit accounts. Preferred Bank operates through branch offices across Southern California and national loan production offices in major U.S. markets.

The bank’s core lending portfolio focuses on commercial real estate acquisition, development and investment properties.