Raymond James cut shares of Preferred Bank (NASDAQ:PFBC) from a strong-buy rating to an outperform rating in a research note released on Friday, Briefing.com Automated Import reports. They currently have $57.00 target price on the bank’s stock.
A number of other analysts have also weighed in on PFBC. FIG Partners restated an outperform rating on shares of RBB Bancorp in a report on Friday, April 12th. ValuEngine upgraded Zogenix from a buy rating to a strong-buy rating in a report on Thursday, June 27th. Zacks Investment Research upgraded DLH from a sell rating to a hold rating in a report on Tuesday, July 9th. BidaskClub upgraded Zillow Group from a buy rating to a strong-buy rating in a report on Tuesday, July 2nd. Finally, B. Riley set a $75.00 target price on Comerica and gave the stock a hold rating in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $53.20.
Shares of NASDAQ PFBC opened at $50.93 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $766.50 million, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 0.99 and a beta of 1.20. The company has a 50 day moving average price of $47.04. Preferred Bank has a 52-week low of $39.87 and a 52-week high of $66.42.
Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Wednesday, July 17th. The bank reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.03. The company had revenue of $43.83 million during the quarter, compared to analyst estimates of $43.82 million. Preferred Bank had a return on equity of 17.73% and a net margin of 33.21%. Equities research analysts anticipate that Preferred Bank will post 5.16 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.20 annualized dividend and a dividend yield of 2.36%. Preferred Bank’s dividend payout ratio is presently 26.37%.
Several institutional investors and hedge funds have recently modified their holdings of the company. Capital Impact Advisors LLC lifted its holdings in shares of Preferred Bank by 14.7% during the 2nd quarter. Capital Impact Advisors LLC now owns 38,895 shares of the bank’s stock valued at $1,850,000 after purchasing an additional 4,980 shares during the last quarter. First Hawaiian Bank lifted its holdings in shares of Preferred Bank by 40.1% during the 2nd quarter. First Hawaiian Bank now owns 6,150 shares of the bank’s stock valued at $291,000 after purchasing an additional 1,760 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Preferred Bank during the 2nd quarter valued at $205,000. Marshall Wace LLP lifted its holdings in shares of Preferred Bank by 13.1% during the 1st quarter. Marshall Wace LLP now owns 149,053 shares of the bank’s stock valued at $6,703,000 after purchasing an additional 17,228 shares during the last quarter. Finally, Palouse Capital Management Inc. lifted its holdings in shares of Preferred Bank by 23.6% during the 1st quarter. Palouse Capital Management Inc. now owns 6,192 shares of the bank’s stock valued at $278,000 after purchasing an additional 1,183 shares during the last quarter. Hedge funds and other institutional investors own 77.48% 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 in the United States. The company's deposit products include checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.
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