Shares of Preferred Bank (NASDAQ:PFBC) have earned an average broker rating score of 1.25 (Strong Buy) from the four brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a buy recommendation and three have assigned a strong buy recommendation to the company.
Analysts have set a 12 month consensus target price of $37.50 for the company and are anticipating that the company will post $0.63 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Preferred Bank an industry rank of 177 out of 265 based on the ratings given to related companies.
Several analysts have recently issued reports on PFBC shares. Zacks Investment Research cut shares of Preferred Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, June 28th. FBR & Co boosted their price objective on shares of Preferred Bank from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, July 22nd. Finally, Raymond James Financial Inc. raised shares of Preferred Bank from an “outperform” rating to a “strong-buy” rating and set a $15.00 price objective for the company in a research note on Thursday, August 25th.
Hedge funds have recently made changes to their positions in the company. FMR LLC boosted its stake in shares of Preferred Bank by 47.5% in the second quarter. FMR LLC now owns 340,530 shares of the company’s stock worth $9,833,000 after buying an additional 109,630 shares during the period. Emerald Acquisition Ltd. acquired a new stake in shares of Preferred Bank during the second quarter worth $1,264,000. Context BH Capital Management LP boosted its stake in shares of Preferred Bank by 185.2% in the second quarter. Context BH Capital Management LP now owns 61,740 shares of the company’s stock worth $1,783,000 after buying an additional 40,093 shares during the period. Maltese Capital Management LLC boosted its stake in shares of Preferred Bank by 23.1% in the second quarter. Maltese Capital Management LLC now owns 209,300 shares of the company’s stock worth $6,045,000 after buying an additional 39,300 shares during the period. Finally, Wedge Capital Management L L P NC acquired a new stake in shares of Preferred Bank during the second quarter worth $970,000. 60.23% of the stock is owned by hedge funds and other institutional investors.
Preferred Bank (NASDAQ:PFBC) opened at 35.10 on Tuesday. The stock has a market capitalization of $487.43 million, a price-to-earnings ratio of 15.46 and a beta of 0.84. Preferred Bank has a 52-week low of $26.35 and a 52-week high of $36.82. The stock’s 50 day moving average price is $34.90 and its 200 day moving average price is $32.11.
Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.03. Preferred Bank had a net margin of 28.55% and a return on equity of 11.83%. On average, analysts forecast that Preferred Bank will post $2.43 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, October 7th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, October 5th. This represents a $0.60 dividend on an annualized basis and a yield of 1.71%. Preferred Bank’s dividend payout ratio (DPR) is 26.32%.
About Preferred Bank
Preferred Bank is a commercial bank, which offers financial services to individuals and companies in Southern California. The Bank provides deposit services, as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals and individuals.
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