Preferred Bank - PFBC Stock Forecast, Price & News

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 accepts checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts. It also provides real estate mortgage loans that are secured by retail, industrial, office, special purpose, and residential single and multi-family properties; real estate construction loans; and commercial loans comprising lines of credit for working capital, term loans for capital expenditures, and commercial and stand-by letters of credit; and SBA loans. In addition, the company offers trade finance services, including commercial and export letters of credit, import lines of credit, documentary collections, international wire transfers, acceptances/trust receipt financing products, export financing, documentary collections, and bills purchase programs. Further, it provides various high-wealth banking services to wealthy individuals residing in the Pacific Rim area; and remote deposit capture, and online and mobile banking services. Additionally, the company offers various banking services to physicians, accountants, attorneys, business managers, and other professionals; and safe deposit boxes, account reconciliation, courier service, and cash management services to the manufacturing, service, and distribution companies. As of December 31, 2021, it had eleven full-service branch offices in Alhambra, Century City, City of Industry, Torrance, Arcadia, Irvine, Diamond Bar, Pico Rivera, Tarzana, and San Francisco; and one branch in Flushing, New York. The company was incorporated in 1991 and is headquartered in Los Angeles, California.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. B. Riley dropped their price objective on shares of Preferred Bank from $95.00 to $80.00 in a report on Monday, July 11th. Raymond James lowered shares of Preferred Bank from an "outperform" rating to a "market perform" rating in a research note on Thursday, July 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $86.60.

Preferred Bank Price Performance

Preferred Bank stock traded up $0.90 during trading hours on Friday, hitting $74.30. 35,941 shares of the company traded hands, compared to its average volume of 74,270. The firm's 50-day simple moving average is $69.19 and its two-hundred day simple moving average is $71.72. The firm has a market cap of $1.12 billion, a P/E ratio of 10.36 and a beta of 1.17. Preferred Bank has a 1-year low of $58.66 and a 1-year high of $81.97. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.25.

Preferred Bank (NASDAQ:PFBC - Get Rating) last announced its earnings results on Wednesday, July 20th. The bank reported $1.87 EPS for the quarter, topping the consensus estimate of $1.78 by $0.09. The firm had revenue of $59.03 million for the quarter, compared to analysts' expectations of $56.84 million. Preferred Bank had a return on equity of 18.27% and a net margin of 45.27%. During the same quarter in the previous year, the company earned $1.44 earnings per share. As a group, analysts forecast that Preferred Bank will post 7.93 earnings per share for the current fiscal year.

Preferred Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 21st. Investors of record on Thursday, July 7th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Wednesday, July 6th. Preferred Bank's payout ratio is currently 23.99%.