Preferred Bank (NASDAQ:PFBC) Given Consensus Recommendation of “Hold” by Analysts

Shares of Preferred Bank (NASDAQ:PFBC) have earned a consensus rating of “Hold” from the seven analysts that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $106.25.

Several equities analysts have recently issued reports on PFBC shares. Weiss Ratings raised Preferred Bank from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Piper Sandler boosted their price objective on Preferred Bank from $105.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Finally, Stephens upped their price objective on Preferred Bank from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd.

Preferred Bank Stock Performance

NASDAQ PFBC opened at $104.49 on Friday. The company has a fifty day moving average price of $101.92 and a 200-day moving average price of $95.14. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 9.55 and a beta of 0.55. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.08 and a quick ratio of 1.08. Preferred Bank has a 1 year low of $81.50 and a 1 year high of $112.26.

Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.13. Preferred Bank had a net margin of 26.54% and a return on equity of 17.27%. The business had revenue of $73.47 million for the quarter, compared to analysts’ expectations of $73.60 million. As a group, equities research analysts predict that Preferred Bank will post 10.71 EPS for the current fiscal year.

Preferred Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th were 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 of this dividend was Tuesday, July 7th. Preferred Bank’s dividend payout ratio is currently 29.25%.

Institutional Investors Weigh In On Preferred Bank

A number of hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its stake in Preferred Bank by 1,224.0% in the second quarter. EverSource Wealth Advisors LLC now owns 331 shares of the bank’s stock valued at $29,000 after purchasing an additional 306 shares during the last quarter. Quarry LP increased its position in Preferred Bank by 1,992.0% in the third quarter. Quarry LP now owns 523 shares of the bank’s stock worth $47,000 after buying an additional 498 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Preferred Bank in the third quarter valued at $70,000. Kemnay Advisory Services Inc. bought a new stake in shares of Preferred Bank in the fourth quarter valued at $91,000. Finally, Clearstead Advisors LLC lifted 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 valued at $101,000 after buying an additional 705 shares during the last quarter. Institutional investors 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.