Preferred Bank (NASDAQ:PFBC) has been assigned an average broker rating score of 1.25 (Strong Buy) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a buy rating and three have issued a strong buy rating on the company.
Analysts have set a 1 year consensus price target of $37.50 for the company and are anticipating that the company will post $0.63 EPS for the current quarter, according to Zacks. Zacks has also assigned Preferred Bank an industry rank of 109 out of 265 based on the ratings given to its competitors.
PFBC has been the subject of several recent research reports. 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 report on Thursday, August 25th. Zacks Investment Research upgraded Preferred Bank from a “hold” rating to a “strong-buy” rating and set a $37.00 target price for the company in a research note on Tuesday, July 26th. Finally, FBR & Co reiterated an “outperform” rating and set a $39.00 target price (up from $37.00) on shares of Preferred Bank in a research note on Thursday, July 21st.
Several institutional investors have recently added to or reduced their stakes in PFBC. Capital Impact Advisors LLC boosted its position in shares of Preferred Bank by 45.1% in the third quarter. Capital Impact Advisors LLC now owns 45,361 shares of the company’s stock valued at $1,622,000 after buying an additional 14,100 shares during the period. Royal Bank of Canada boosted its position in shares of Preferred Bank by 4.1% in the second quarter. Royal Bank of Canada now owns 67,836 shares of the company’s stock valued at $1,959,000 after buying an additional 2,679 shares during the period. Wedge Capital Management L L P NC purchased a new position in shares of Preferred Bank during the second quarter valued at about $970,000. Stifel Financial Corp boosted its position in shares of Preferred Bank by 10.1% in the second quarter. Stifel Financial Corp now owns 7,330 shares of the company’s stock valued at $212,000 after buying an additional 675 shares during the period. Finally, Fiera Capital Corp boosted its position in shares of Preferred Bank by 6.8% in the second quarter. Fiera Capital Corp now owns 15,700 shares of the company’s stock valued at $453,000 after buying an additional 1,000 shares during the period. Institutional investors own 60.34% of the company’s stock.
Shares of Preferred Bank (NASDAQ:PFBC) traded up 0.52% during trading on Monday, reaching $34.65. 14,748 shares of the company’s stock traded hands. The company has a 50 day moving average of $35.19 and a 200-day moving average of $32.52. Preferred Bank has a 1-year low of $26.35 and a 1-year high of $36.82. The company has a market capitalization of $481.18 million, a price-to-earnings ratio of 15.26 and a beta of 0.88.
Preferred Bank (NASDAQ:PFBC) last issued 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%. Equities analysts predict that Preferred Bank will post $2.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Friday, October 7th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Wednesday, October 5th. Preferred Bank’s dividend payout ratio (DPR) is currently 26.32%.
Preferred Bank Company Profile
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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