Preferred Bank (PFBC) Receives Buy Rating from FBR & Co

FBR & Co reissued their buy rating on shares of Preferred Bank (NASDAQ:PFBC) in a report published on Wednesday. The firm currently has a $70.00 price target on the bank’s stock, up from their prior price target of $65.00.

A number of other research firms also recently issued reports on PFBC. BidaskClub raised shares of Preferred Bank from a hold rating to a buy rating in a report on Tuesday, July 11th. Stephens raised shares of Preferred Bank from an equal weight rating to an overweight rating in a report on Monday, July 10th. Finally, Zacks Investment Research downgraded shares of Preferred Bank from a buy rating to a hold rating in a report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $70.00.

Shares of Preferred Bank (NASDAQ:PFBC) traded up 1.97% on Wednesday, hitting $65.59. The stock had a trading volume of 150,320 shares. The firm has a 50-day moving average of $56.85 and a 200 day moving average of $54.16. The company has a market capitalization of $942.46 million, a PE ratio of 22.52 and a beta of 0.94. Preferred Bank has a 1-year low of $35.12 and a 1-year high of $66.58.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings data on Tuesday, October 24th. The bank reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.09. Preferred Bank had a net margin of 28.91% and a return on equity of 14.05%. The company had revenue of $36.67 million during the quarter, compared to the consensus estimate of $34.68 million. On average, equities analysts anticipate that Preferred Bank will post $3.21 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, October 6th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Thursday, October 5th. Preferred Bank’s dividend payout ratio is currently 27.49%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC lifted its stake in Preferred Bank by 86.9% in the first quarter. SG Americas Securities LLC now owns 3,726 shares of the bank’s stock worth $200,000 after purchasing an additional 1,732 shares during the last quarter. UBS Asset Management Americas Inc. bought a new stake in Preferred Bank in the first quarter worth $207,000. Sheaff Brock Investment Advisors LLC bought a new stake in Preferred Bank in the second quarter worth $220,000. Eqis Capital Management Inc. lifted its stake in Preferred Bank by 9.4% in the second quarter. Eqis Capital Management Inc. now owns 4,486 shares of the bank’s stock worth $240,000 after purchasing an additional 385 shares during the last quarter. Finally, Voya Investment Management LLC bought a new stake in Preferred Bank in the second quarter worth $269,000. 78.70% of the stock is owned by institutional investors.

Preferred Bank Company Profile

Preferred Bank is a commercial bank. 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 high net worth individuals. The Bank offers various services, such as personal banking, business banking and treasury management.

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