Preferred Bank (NASDAQ:PFBC) Stock Passes Above 200-Day Moving Average – Time to Sell?

Preferred Bank (NASDAQ:PFBC) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $93.35 and traded as high as $101.85. Preferred Bank shares last traded at $100.98, with a volume of 67,705 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Piper Sandler increased their target price on Preferred Bank from $105.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. 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 target price on the stock. Brean Capital lowered Preferred Bank from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Finally, Weiss Ratings raised Preferred Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Preferred Bank presently has a consensus rating of “Hold” and a consensus price target of $102.00.

Preferred Bank Stock Up 0.3%

The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.06 and a current ratio of 1.07. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 9.46 and a beta of 0.56. The business has a 50-day simple moving average of $94.48 and a 200-day simple moving average of $93.35.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings results on Wednesday, April 22nd. The bank reported $2.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.05. The company had revenue of $69.62 million for the quarter, compared to analyst estimates of $71.76 million. Preferred Bank had a return on equity of 17.52% and a net margin of 26.49%. On average, equities analysts anticipate that Preferred Bank will post 10.58 earnings per share for the current fiscal year.

Preferred Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 21st. Shareholders of record on Tuesday, April 7th were given a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, April 7th. This represents a $3.20 dividend on an annualized basis and a yield of 3.2%. Preferred Bank’s dividend payout ratio (DPR) is currently 29.96%.

Institutional Investors Weigh In On Preferred Bank

A number of hedge funds have recently bought and sold shares of PFBC. EverSource Wealth Advisors LLC raised its position in Preferred Bank by 1,224.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 331 shares of the bank’s stock valued at $29,000 after purchasing an additional 306 shares in the last quarter. Quarry LP raised its position in Preferred Bank by 1,992.0% in the 3rd quarter. Quarry LP now owns 523 shares of the bank’s stock valued at $47,000 after purchasing an additional 498 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Preferred Bank during the 3rd quarter worth about $70,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Preferred Bank during the 4th quarter worth about $91,000. Finally, Clearstead Advisors LLC raised its position in shares of Preferred Bank by 192.1% during the 4th quarter. Clearstead Advisors LLC now owns 1,072 shares of the bank’s stock worth $101,000 after acquiring an additional 705 shares in the last quarter. Institutional investors and hedge funds own 72.77% of the company’s stock.

Preferred Bank Company Profile

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.