Preferred Bank (NASDAQ:PFBC) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Preferred Bank has a consensus “Hold” rating from seven analysts: five recommend holding the stock and two recommend buying it. The average 12-month price target is $106.25.
• PFBC shares opened at $102.98, down 0.9%, with a market capitalization of approximately $1.49 billion. The stock trades at a P/E ratio of 9.41 and has a 52-week range of $81.50 to $112.26.
• The bank exceeded quarterly EPS expectations, reporting $2.78 versus the $2.65 consensus estimate, and recently paid a quarterly dividend of $0.80, equivalent to a 3.1% annualized yield.

Preferred Bank (NASDAQ:PFBC - Get Free Report) has received a consensus recommendation of "Hold" from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $106.25.

A number of analysts recently weighed in on PFBC shares. Stephens boosted their target price on Preferred Bank from $100.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 23rd. Weiss Ratings restated a "buy (b-)" rating on shares of Preferred Bank in a report on Friday, September 4th.

Hedge Funds Weigh In On Preferred Bank

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of Preferred Bank during the second quarter valued at approximately $25,000. EverSource Wealth Advisors LLC increased its stake in shares of Preferred Bank by 1,224.0% in the second quarter. EverSource Wealth Advisors LLC now owns 331 shares of the bank's stock worth $29,000 after buying an additional 306 shares during the period. Integrated Wealth Concepts LLC bought a new stake in Preferred Bank during the 2nd quarter valued at $55,000. Quarry LP boosted its position in Preferred Bank by 1,992.0% during the 3rd quarter. Quarry LP now owns 523 shares of the bank's stock valued at $47,000 after buying an additional 498 shares during the period. Finally, Johnson Financial Group Inc. bought a new stake in Preferred Bank in the 3rd quarter worth $70,000. 72.77% of the stock is currently owned by institutional investors.

Preferred Bank Trading Down 0.9%

Shares of PFBC opened at $102.98 on Friday. The firm's 50 day simple moving average is $104.93 and its 200 day simple moving average is $98.10. The company has a market capitalization of $1.49 billion, a P/E ratio of 9.41 and a beta of 0.54. 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 - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.65 by $0.13. Preferred Bank had a net margin of 26.54% and a return on equity of 17.27%. The company had revenue of $73.47 million during the quarter, compared to the consensus estimate of $73.60 million. Sell-side analysts forecast that Preferred Bank will post 10.71 earnings per share for the current fiscal year.

Preferred Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th were issued a $0.80 dividend. The ex-dividend date was Tuesday, July 7th. This represents a $3.20 annualized dividend and a dividend yield of 3.1%. Preferred Bank's payout ratio is currently 29.25%.

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.

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