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

Preferred Bank (NASDAQ:PFBC) has been given an average rating of “Hold” by the nine ratings firms that are currently covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $47.67.

A number of research firms have recently commented on PFBC. DA Davidson dropped their price objective on Preferred Bank from $40.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. BidaskClub raised Preferred Bank from a “sell” rating to a “hold” rating in a research report on Friday, June 5th. B. Riley cut their target price on Preferred Bank from $65.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, April 13th. Piper Sandler reaffirmed an “overweight” rating and set a $45.00 target price on shares of Preferred Bank in a research report on Thursday, June 4th. Finally, Zacks Investment Research raised Preferred Bank from a “hold” rating to a “strong-buy” rating and set a $45.00 target price on the stock in a research report on Tuesday.

Hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC purchased a new position in shares of Preferred Bank during the first quarter valued at $26,000. Smith Asset Management Group LP purchased a new position in shares of Preferred Bank during the first quarter valued at $121,000. BNP Paribas Arbitrage SA grew its holdings in shares of Preferred Bank by 78.1% during the first quarter. BNP Paribas Arbitrage SA now owns 5,531 shares of the bank’s stock valued at $187,000 after buying an additional 2,426 shares in the last quarter. IndexIQ Advisors LLC purchased a new position in shares of Preferred Bank during the first quarter valued at $191,000. Finally, State of Tennessee Treasury Department grew its holdings in shares of Preferred Bank by 42.6% during the first quarter. State of Tennessee Treasury Department now owns 6,677 shares of the bank’s stock valued at $226,000 after buying an additional 1,996 shares in the last quarter. Institutional investors and hedge funds own 77.99% of the company’s stock.

Shares of PFBC traded down $2.23 during midday trading on Friday, reaching $40.62. The stock had a trading volume of 62,700 shares, compared to its average volume of 105,807. Preferred Bank has a 52 week low of $20.04 and a 52 week high of $64.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.06 and a quick ratio of 1.06. The firm’s 50 day moving average price is $38.44 and its 200-day moving average price is $46.25. The company has a market capitalization of $644.89 million, a P/E ratio of 8.09 and a beta of 1.49.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.06. Preferred Bank had a return on equity of 16.34% and a net margin of 32.33%. The company had revenue of $43.46 million for the quarter, compared to the consensus estimate of $41.46 million. On average, equities analysts forecast that Preferred Bank will post 4.29 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, July 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.95%. Preferred Bank’s dividend payout ratio is 22.94%.

About Preferred Bank

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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Analyst Recommendations for Preferred Bank (NASDAQ:PFBC)

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