Preferred Bank (NASDAQ:PFBC) Stock Rating Lowered by BidaskClub

BidaskClub cut shares of Preferred Bank (NASDAQ:PFBC) from a hold rating to a sell rating in a report published on Saturday morning, BidAskClub reports.

PFBC has been the subject of several other research reports. Zacks Investment Research cut shares of Preferred Bank from a buy rating to a hold rating in a report on Wednesday, April 10th. DA Davidson cut shares of Preferred Bank from a buy rating to a neutral rating and reduced their price target for the company from $60.00 to $52.00 in a report on Wednesday, June 5th. FIG Partners reiterated an outperform rating on shares of Preferred Bank in a report on Friday, April 12th. Finally, Raymond James cut their price objective on shares of Preferred Bank from $60.00 to $58.00 and set a strong-buy rating on the stock in a research report on Monday, April 22nd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $56.80.

Preferred Bank stock opened at $45.16 on Friday. The firm has a market capitalization of $680.11 million, a PE ratio of 9.93, a PEG ratio of 0.87 and a beta of 1.21. Preferred Bank has a twelve month low of $39.87 and a twelve month high of $69.48. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a 50 day moving average of $46.51.

Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings results on Wednesday, April 17th. The bank reported $1.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.06. The company had revenue of $42.77 million during the quarter, compared to analysts’ expectations of $42.96 million. Preferred Bank had a net margin of 33.75% and a return on equity of 17.82%. On average, equities research analysts forecast that Preferred Bank will post 5.21 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Friday, July 5th. Preferred Bank’s dividend payout ratio is presently 26.37%.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Preferred Bank by 5.8% in the fourth quarter. BlackRock Inc. now owns 2,166,036 shares of the bank’s stock worth $93,897,000 after purchasing an additional 118,199 shares in the last quarter. Nuveen Asset Management LLC raised its position in Preferred Bank by 1.8% during the fourth quarter. Nuveen Asset Management LLC now owns 878,323 shares of the bank’s stock worth $38,075,000 after acquiring an additional 15,765 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Preferred Bank by 4.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 613,310 shares of the bank’s stock worth $26,587,000 after acquiring an additional 24,728 shares in the last quarter. Boston Partners raised its position in Preferred Bank by 2.1% during the first quarter. Boston Partners now owns 418,210 shares of the bank’s stock worth $18,807,000 after acquiring an additional 8,683 shares in the last quarter. Finally, LSV Asset Management raised its position in Preferred Bank by 587.0% during the first quarter. LSV Asset Management now owns 230,033 shares of the bank’s stock worth $10,344,000 after acquiring an additional 196,547 shares in the last quarter. 77.48% of the stock is currently owned by institutional investors and hedge funds.

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, 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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Analyst Recommendations for Preferred Bank (NASDAQ:PFBC)

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