Preferred Bank (NASDAQ:PFBC) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Friday, March 9th.
Several other equities research analysts have also recently issued reports on PFBC. ValuEngine cut Preferred Bank from a “buy” rating to a “hold” rating in a report on Friday, December 1st. B. Riley reiterated a “buy” rating and issued a $76.00 price objective on shares of Preferred Bank in a report on Wednesday, January 24th. Sandler O’Neill reiterated a “buy” rating and issued a $73.00 price objective on shares of Preferred Bank in a report on Tuesday, January 23rd. UBS upgraded Preferred Bank from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, January 9th. Finally, Zacks Investment Research upgraded Preferred Bank from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Wednesday, November 29th. Three analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $72.60.
Shares of NASDAQ:PFBC traded down $0.32 during trading on Friday, reaching $63.88. 101,021 shares of the company’s stock traded hands, compared to its average volume of 93,396. Preferred Bank has a fifty-two week low of $46.88 and a fifty-two week high of $67.65. The stock has a market capitalization of $846.67, a PE ratio of 18.68, a price-to-earnings-growth ratio of 1.40 and a beta of 0.98.
Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Monday, January 22nd. The bank reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.08. Preferred Bank had a return on equity of 16.69% and a net margin of 26.51%. The firm had revenue of $35.78 million for the quarter, compared to analysts’ expectations of $36.37 million. equities research analysts expect that Preferred Bank will post 4.59 earnings per share for the current year.
Institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its holdings in shares of Preferred Bank by 80.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,415 shares of the bank’s stock worth $146,000 after purchasing an additional 1,076 shares during the last quarter. Stevens Capital Management LP purchased a new stake in shares of Preferred Bank during the 3rd quarter valued at approximately $237,000. Capital Fund Management S.A. purchased a new stake in shares of Preferred Bank during the 4th quarter valued at approximately $241,000. First Mercantile Trust Co. purchased a new stake in shares of Preferred Bank during the 4th quarter valued at approximately $256,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Preferred Bank during the 4th quarter valued at approximately $265,000. Institutional investors and hedge funds own 83.98% of the company’s stock.
About Preferred Bank
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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