Preferred Bank (PFBC) Upgraded to “Strong-Buy” by Raymond James Financial

Raymond James Financial upgraded shares of Preferred Bank (NASDAQ:PFBC) from an outperform rating to a strong-buy rating in a report released on Tuesday. They currently have $71.00 price objective on the bank’s stock. The analysts noted that the move was a valuation call.

A number of other equities research analysts have also weighed in on PFBC. UBS Group upgraded Preferred Bank from an outperform rating to a strong-buy rating in a research report on Tuesday. FBR & Co restated a buy rating and set a $70.00 price objective (up previously from $65.00) on shares of Preferred Bank in a research report on Wednesday, October 25th. Zacks Investment Research lowered Preferred Bank from a buy rating to a hold rating in a research report on Saturday, December 30th. ValuEngine lowered Preferred Bank from a buy rating to a hold rating in a research report on Friday, December 1st. Finally, BidaskClub upgraded Preferred Bank from a sell rating to a hold rating in a research report on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $69.33.

Shares of Preferred Bank (PFBC) traded up $0.62 during mid-day trading on Tuesday, reaching $61.80. The company had a trading volume of 158,720 shares, compared to its average volume of 79,516. The company has a market cap of $877.00, a price-to-earnings ratio of 19.62, a P/E/G ratio of 1.53 and a beta of 0.92. Preferred Bank has a twelve month low of $46.88 and a twelve month high of $66.58. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.04 and a quick ratio of 1.04.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings data on Tuesday, October 24th. The bank reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.09. The business had revenue of $36.67 million for the quarter, compared to analyst estimates of $34.68 million. Preferred Bank had a return on equity of 15.22% and a net margin of 29.33%. sell-side analysts anticipate that Preferred Bank will post 3.35 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 22nd. Shareholders of record on Monday, January 8th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, January 5th. This is a positive change from Preferred Bank’s previous quarterly dividend of $0.20. Preferred Bank’s payout ratio is 27.94%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA grew its position in shares of Preferred Bank by 80.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,415 shares of the bank’s stock valued at $146,000 after buying an additional 1,076 shares during the last quarter. Sheaff Brock Investment Advisors LLC bought a new stake in shares of Preferred Bank in the 2nd quarter valued at about $220,000. Stevens Capital Management LP bought a new stake in shares of Preferred Bank in the 3rd quarter valued at about $237,000. Voya Investment Management LLC bought a new stake in shares of Preferred Bank in the 2nd quarter valued at about $269,000. Finally, Capital Fund Management S.A. bought a new stake in shares of Preferred Bank in the 2nd quarter valued at about $283,000. Hedge funds and other institutional investors own 79.89% of the company’s stock.

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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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