Preferred Bank (NASDAQ:PFBC) had its target price lowered by Raymond James from $77.00 to $72.00 in a report published on Friday morning. Raymond James currently has a strong-buy rating on the bank’s stock.

Other analysts also recently issued reports about the company. B. Riley set a $80.00 price target on Preferred Bank and gave the stock a buy rating in a report on Wednesday, October 17th. Zacks Investment Research upgraded Preferred Bank from a hold rating to a buy rating and set a $67.00 price target for the company in a report on Saturday, October 6th. Stephens downgraded Preferred Bank from an overweight rating to an equal weight rating in a research note on Friday, July 6th. BidaskClub upgraded Preferred Bank from a sell rating to a hold rating in a research note on Friday, July 6th. Finally, ValuEngine downgraded Preferred Bank from a hold rating to a sell rating in a research note on Wednesday, September 19th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $72.40.

Shares of Preferred Bank stock opened at $55.06 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.07 and a quick ratio of 1.07. Preferred Bank has a 1-year low of $54.93 and a 1-year high of $69.48. The stock has a market cap of $726.13 million, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 1.19 and a beta of 0.93.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings results on Wednesday, October 17th. The bank reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.02. Preferred Bank had a return on equity of 18.39% and a net margin of 31.74%. The firm had revenue of $40.91 million during the quarter, compared to the consensus estimate of $41.19 million. On average, sell-side analysts forecast that Preferred Bank will post 4.66 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 19th. Stockholders of record on Friday, October 5th were paid a $0.25 dividend. The ex-dividend date was Thursday, October 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.82%. Preferred Bank’s dividend payout ratio is presently 29.24%.

Several institutional investors and hedge funds have recently modified their holdings of PFBC. Wells Fargo & Company MN grew its stake in shares of Preferred Bank by 3.6% in the 1st quarter. Wells Fargo & Company MN now owns 31,273 shares of the bank’s stock valued at $2,007,000 after buying an additional 1,095 shares during the period. Northern Trust Corp grew its stake in shares of Preferred Bank by 0.7% in the 1st quarter. Northern Trust Corp now owns 261,082 shares of the bank’s stock valued at $16,761,000 after buying an additional 1,833 shares during the period. BlackRock Inc. grew its stake in shares of Preferred Bank by 1.5% in the 1st quarter. BlackRock Inc. now owns 807,206 shares of the bank’s stock valued at $51,823,000 after buying an additional 11,559 shares during the period. New York State Common Retirement Fund grew its stake in shares of Preferred Bank by 24.4% in the 1st quarter. New York State Common Retirement Fund now owns 36,651 shares of the bank’s stock valued at $2,353,000 after buying an additional 7,187 shares during the period. Finally, California Public Employees Retirement System grew its stake in shares of Preferred Bank by 5.9% in the 1st quarter. California Public Employees Retirement System now owns 31,200 shares of the bank’s stock valued at $2,003,000 after buying an additional 1,747 shares during the period. Institutional investors own 88.35% 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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Analyst Recommendations for Preferred Bank (NASDAQ:PFBC)

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