Preferred Bank (NASDAQ:PFBC) Given Average Rating of “Hold” by Brokerages

Preferred Bank (NASDAQ:PFBC) has received an average recommendation of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $102.00.

A number of research firms have commented on PFBC. Piper Sandler boosted their price target on shares of Preferred Bank from $105.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Weiss Ratings upgraded shares of Preferred Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 8th.

Hedge Funds Weigh In On Preferred Bank

A number of large investors have recently modified their holdings of PFBC. Qube Research & Technologies Ltd lifted its position in shares of Preferred Bank by 288.4% during the third quarter. Qube Research & Technologies Ltd now owns 74,636 shares of the bank’s stock worth $6,746,000 after purchasing an additional 55,418 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Preferred Bank by 40,612.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 52,112 shares of the bank’s stock worth $4,896,000 after purchasing an additional 51,984 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Preferred Bank by 15.7% during the third quarter. American Century Companies Inc. now owns 337,804 shares of the bank’s stock worth $30,534,000 after purchasing an additional 45,946 shares in the last quarter. Kennedy Capital Management LLC lifted its position in shares of Preferred Bank by 19.9% during the fourth quarter. Kennedy Capital Management LLC now owns 199,419 shares of the bank’s stock worth $18,831,000 after purchasing an additional 33,157 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Preferred Bank by 19.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 206,622 shares of the bank’s stock worth $19,511,000 after purchasing an additional 33,124 shares in the last quarter. 72.77% of the stock is currently owned by institutional investors and hedge funds.

Preferred Bank Price Performance

NASDAQ:PFBC opened at $104.82 on Monday. The firm has a market cap of $1.51 billion, a PE ratio of 9.81 and a beta of 0.56. Preferred Bank has a 12 month low of $81.50 and a 12 month high of $105.89. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.45. The company’s 50-day moving average price is $96.30 and its two-hundred day moving average price is $93.85.

Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings results on Wednesday, April 22nd. The bank reported $2.53 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.05. The firm had revenue of $69.62 million for the quarter, compared to analyst estimates of $71.76 million. Preferred Bank had a net margin of 26.49% and a return on equity of 17.52%. On average, equities analysts anticipate that Preferred Bank will post 10.67 EPS for the current fiscal year.

Preferred Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, July 7th. Preferred Bank’s dividend payout ratio is presently 29.96%.

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.