Preferred Bank (PFBC) Given Average Recommendation of “Hold” by Analysts

Preferred Bank (NASDAQ:PFBC) has been assigned an average recommendation of “Hold” from the six analysts that are covering the firm, reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $66.33.

A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded Preferred Bank from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Wednesday, March 27th. Stephens reiterated a “hold” rating and issued a $51.00 price objective on shares of Preferred Bank in a research note on Tuesday, January 22nd. Finally, BidaskClub upgraded Preferred Bank from a “strong sell” rating to a “sell” rating in a research note on Wednesday, March 27th.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Comerica Bank bought a new position in shares of Preferred Bank during the third quarter worth approximately $717,000. Wells Fargo & Company MN lifted its holdings in shares of Preferred Bank by 11.0% during the third quarter. Wells Fargo & Company MN now owns 48,364 shares of the bank’s stock worth $2,830,000 after purchasing an additional 4,778 shares during the period. Prudential Financial Inc. lifted its holdings in Preferred Bank by 8.7% in the third quarter. Prudential Financial Inc. now owns 59,427 shares of the bank’s stock valued at $3,477,000 after buying an additional 4,733 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new position in Preferred Bank in the third quarter valued at $252,000. Finally, Bank of New York Mellon Corp lifted its holdings in Preferred Bank by 107.8% in the third quarter. Bank of New York Mellon Corp now owns 194,351 shares of the bank’s stock valued at $11,369,000 after buying an additional 100,819 shares during the period. Hedge funds and other institutional investors own 90.63% of the company’s stock.

Shares of NASDAQ:PFBC traded down $0.44 on Thursday, reaching $46.84. The company had a trading volume of 48,266 shares, compared to its average volume of 77,846. Preferred Bank has a twelve month low of $39.87 and a twelve month high of $69.48. The stock has a market capitalization of $616.28 million, a P/E ratio of 10.29, a P/E/G ratio of 0.90 and a beta of 1.15. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.07 and a quick ratio of 1.07.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Thursday, January 17th. The bank reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.11). Preferred Bank had a return on equity of 17.69% and a net margin of 34.70%. The company had revenue of $45.85 million during the quarter, compared to analyst estimates of $42.11 million. As a group, research analysts expect that Preferred Bank will post 5.18 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 8th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.56%. This is a positive change from Preferred Bank’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, April 5th. Preferred Bank’s payout ratio is currently 26.37%.

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, 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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