Preferred Bank (NASDAQ:PFBC) Earns "Buy (B)" Rating from Weiss Ratings

Key Points

• Preferred Bank's stock has received a "Buy (B)" rating from Weiss Ratings, indicating positive analyst sentiment towards the bank.
• Piper Sandler and DA Davidson have increased their target prices for Preferred Bank to $112.00 and $108.00, respectively, suggesting confidence in the bank's growth potential.
• Preferred Bank reported $2.52 EPS for the last quarter, exceeding estimates, and has a return on equity of 16.64%.

Preferred Bank (NASDAQ:PFBC - Get Free Report)'s stock had its "buy (b)" rating reiterated by research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

PFBC has been the subject of several other reports. Piper Sandler raised their target price on Preferred Bank from $96.00 to $112.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. DA Davidson lifted their price objective on Preferred Bank from $90.00 to $108.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $103.67.

Preferred Bank Trading Down 1.0%

Shares of Preferred Bank stock opened at $89.52 on Wednesday. Preferred Bank has a 1 year low of $71.90 and a 1 year high of $99.78. The firm has a market cap of $1.29 billion, a PE ratio of 9.46 and a beta of 0.71. The stock has a fifty day moving average price of $92.45 and a 200-day moving average price of $87.45. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.07 and a quick ratio of 1.07.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last announced its earnings results on Monday, July 21st. The bank reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.09. Preferred Bank had a return on equity of 16.64% and a net margin of 25.04%.The firm had revenue of $69.05 million during the quarter, compared to analyst estimates of $70.96 million. Equities research analysts anticipate that Preferred Bank will post 9.81 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. NBC Securities Inc. bought a new position in Preferred Bank in the 1st quarter worth about $25,000. EverSource Wealth Advisors LLC boosted its stake in Preferred Bank by 1,224.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 331 shares of the bank's stock worth $29,000 after purchasing an additional 306 shares during the period. Meeder Asset Management Inc. bought a new position in Preferred Bank in the 1st quarter worth about $55,000. Copeland Capital Management LLC boosted its stake in Preferred Bank by 16.2% in the 2nd quarter. Copeland Capital Management LLC now owns 845 shares of the bank's stock worth $73,000 after purchasing an additional 118 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in Preferred Bank by 350.7% in the 2nd quarter. NewEdge Advisors LLC now owns 1,316 shares of the bank's stock worth $114,000 after purchasing an additional 1,024 shares during the period. Institutional investors own 72.77% of the company's stock.

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. The company accepts 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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