Preferred Bank (NASDAQ:PFBC) Earns Equal Weight Rating from Stephens

Stephens restated their equal weight rating on shares of Preferred Bank (NASDAQ:PFBC - Free Report) in a research report sent to investors on Tuesday,Benzinga reports. Stephens currently has a $91.00 target price on the bank's stock.

A number of other analysts have also recently issued reports on PFBC. Piper Sandler reduced their target price on shares of Preferred Bank from $108.00 to $96.00 and set an "overweight" rating for the company in a research note on Tuesday, April 29th. DA Davidson reduced their price objective on shares of Preferred Bank from $95.00 to $90.00 and set a "neutral" rating for the company in a research note on Monday, April 28th.

Preferred Bank Price Performance

Shares of NASDAQ PFBC traded up $1.96 during mid-day trading on Tuesday, reaching $82.38. The company had a trading volume of 96,737 shares, compared to its average volume of 83,921. Preferred Bank has a 1-year low of $71.43 and a 1-year high of $99.78. The stock has a market cap of $1.19 billion, a PE ratio of 8.55 and a beta of 0.69. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average price of $82.04 and a two-hundred day moving average price of $86.74.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last issued its earnings results on Friday, April 25th. The bank reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.33 by ($0.10). Preferred Bank had a return on equity of 17.80% and a net margin of 25.00%. The firm had revenue of $65.96 million during the quarter, compared to analyst estimates of $70.78 million. During the same period in the previous year, the company earned $2.44 earnings per share. On average, equities analysts anticipate that Preferred Bank will post 9.81 earnings per share for the current year.

Preferred Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, April 7th. This represents a $3.00 dividend on an annualized basis and a yield of 3.64%. Preferred Bank's payout ratio is currently 31.85%.

Institutional Trading of Preferred Bank

Institutional investors and hedge funds have recently modified their holdings of the company. Kennedy Capital Management LLC raised its holdings in Preferred Bank by 274.2% in the 4th quarter. Kennedy Capital Management LLC now owns 90,218 shares of the bank's stock worth $7,793,000 after acquiring an additional 66,107 shares during the period. American Century Companies Inc. increased its stake in shares of Preferred Bank by 44.7% in the fourth quarter. American Century Companies Inc. now owns 199,628 shares of the bank's stock worth $17,244,000 after purchasing an additional 61,655 shares during the period. GAMMA Investing LLC lifted its position in shares of Preferred Bank by 9,482.9% during the 1st quarter. GAMMA Investing LLC now owns 36,894 shares of the bank's stock worth $3,087,000 after purchasing an additional 36,509 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Preferred Bank by 24.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 186,107 shares of the bank's stock valued at $14,935,000 after purchasing an additional 35,979 shares during the period. Finally, Millennium Management LLC grew its holdings in Preferred Bank by 28.8% in the 4th quarter. Millennium Management LLC now owns 147,702 shares of the bank's stock valued at $12,758,000 after buying an additional 32,990 shares during the last quarter. 72.77% of the stock is currently owned by institutional investors and hedge funds.

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.