Preferred Bank (NASDAQ:PFBC) has been assigned a $76.00 price target by stock analysts at B. Riley in a research note issued on Tuesday. The firm currently has a “buy” rating on the bank’s stock. B. Riley’s price objective indicates a potential upside of 48.09% from the company’s previous close.
PFBC has been the subject of several other reports. Zacks Investment Research lowered shares of Preferred Bank from a “hold” rating to a “sell” rating in a research note on Sunday, July 15th. Stephens downgraded shares of Preferred Bank from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 6th. BidaskClub downgraded shares of Preferred Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, July 18th. Raymond James upgraded shares of Preferred Bank from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, October 4th. Finally, ValuEngine downgraded shares of Preferred Bank from a “sell” rating to a “strong sell” rating in a research report on Saturday. Two analysts have rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $72.00.
PFBC stock opened at $51.32 on Tuesday. Preferred Bank has a 12 month low of $49.45 and a 12 month high of $69.48. The company has a market cap of $662.30 million, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 1.08 and a beta of 0.93. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.28.
Several large investors have recently modified their holdings of PFBC. Mount Yale Investment Advisors LLC acquired a new position in Preferred Bank in the 1st quarter valued at approximately $129,000. UBS Group AG increased its stake in Preferred Bank by 653.1% in the 1st quarter. UBS Group AG now owns 2,651 shares of the bank’s stock valued at $170,000 after buying an additional 2,299 shares during the period. GAM Holding AG acquired a new position in Preferred Bank in the 2nd quarter valued at approximately $241,000. Capital Fund Management S.A. acquired a new position in Preferred Bank in the 2nd quarter valued at approximately $246,000. Finally, First Hawaiian Bank acquired a new position in Preferred Bank in the 3rd quarter valued at approximately $257,000. Institutional investors and hedge funds own 88.49% of the company’s stock.
Preferred Bank Company Profile
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, negotiable order of withdrawal, 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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