Preferred Bank (NASDAQ:PFBC) has been assigned a consensus recommendation of “Hold” from the six analysts that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $66.33.
A number of equities analysts have recently commented on the company. Zacks Investment Research downgraded Preferred Bank from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. BidaskClub downgraded Preferred Bank from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 4th. Finally, Stephens restated a “hold” rating and issued a $51.00 price objective on shares of Preferred Bank in a report on Tuesday, January 22nd.
Hedge funds have recently bought and sold shares of the company. Wakefield Asset Management LLLP acquired a new stake in shares of Preferred Bank in the third quarter valued at about $218,000. CIBC World Markets Inc. acquired a new stake in shares of Preferred Bank in the third quarter valued at about $251,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Preferred Bank in the third quarter valued at about $252,000. Metropolitan Life Insurance Co. NY grew its stake in shares of Preferred Bank by 319.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,710 shares of the bank’s stock valued at $204,000 after buying an additional 3,586 shares in the last quarter. Finally, Aptus Capital Advisors LLC acquired a new stake in shares of Preferred Bank in the fourth quarter valued at about $213,000. Institutional investors and hedge funds own 90.60% of the company’s stock.
NASDAQ PFBC traded up $0.31 during trading hours on Friday, hitting $48.85. 71,756 shares of the company’s stock were exchanged, compared to its average volume of 52,955. Preferred Bank has a 12-month low of $39.87 and a 12-month high of $69.48. The company has a market capitalization of $640.24 million, a PE ratio of 10.74, a price-to-earnings-growth ratio of 0.94 and a beta of 1.18.
Preferred Bank (NASDAQ:PFBC) last released its earnings results on Thursday, January 17th. The bank reported $1.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by ($0.11). Preferred Bank had a return on equity of 17.71% and a net margin of 34.70%. The business had revenue of $45.85 million for the quarter, compared to analysts’ expectations of $42.11 million. Sell-side analysts predict that Preferred Bank will post 5.21 EPS for the current fiscal year.
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, negotiable order of withdrawal, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.
Further Reading: Return On Assets
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