Preferred Bank (PFBC) Receives $61.67 Average PT from Analysts

Shares of Preferred Bank (NASDAQ:PFBC) have earned an average rating of “Hold” from the seven analysts that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $61.67.

A number of equities research analysts have weighed in on PFBC shares. Zacks Investment Research upgraded shares of Preferred Bank from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Wednesday, March 27th. BidaskClub upgraded shares of Preferred Bank from a “strong sell” rating to a “sell” rating in a research report on Wednesday, March 27th. FIG Partners reiterated an “outperform” rating on shares of Preferred Bank in a research report on Friday, April 12th. Finally, Raymond James dropped their price target on shares of Preferred Bank from $60.00 to $58.00 and set a “strong-buy” rating for the company in a research report on Monday, April 22nd.

Shares of PFBC opened at $45.86 on Friday. Preferred Bank has a 1-year low of $39.87 and a 1-year high of $69.48. The stock has a market cap of $690.19 million, a price-to-earnings ratio of 10.08, a P/E/G ratio of 0.88 and a beta of 1.17. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.23.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Wednesday, April 17th. The bank reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.06. Preferred Bank had a net margin of 33.75% and a return on equity of 17.82%. The business had revenue of $42.77 million during the quarter, compared to analysts’ expectations of $42.96 million. As a group, equities research analysts predict that Preferred Bank will post 5.23 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Quantamental Technologies LLC acquired a new position in shares of Preferred Bank in the first quarter valued at approximately $31,000. BNP Paribas Arbitrage SA grew its holdings in shares of Preferred Bank by 72,425.0% in the first quarter. BNP Paribas Arbitrage SA now owns 2,901 shares of the bank’s stock valued at $130,000 after purchasing an additional 2,897 shares in the last quarter. Convergence Investment Partners LLC acquired a new position in shares of Preferred Bank in the first quarter valued at approximately $139,000. SG Americas Securities LLC acquired a new position in shares of Preferred Bank in the first quarter valued at approximately $199,000. Finally, Metropolitan Life Insurance Co. NY grew its holdings in shares of Preferred Bank by 319.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,710 shares of the bank’s stock valued at $204,000 after purchasing an additional 3,586 shares in the last quarter. Hedge funds and other institutional investors own 77.48% of the company’s stock.

About Preferred Bank

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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