Shares of Preferred Bank (NASDAQ:PFBC) have earned an average rating of “Hold” from the eight ratings firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $59.25.
Several equities research analysts have recently commented on the stock. BidaskClub downgraded shares of Preferred Bank from a “hold” rating to a “sell” rating in a research note on Saturday. DA Davidson downgraded shares of Preferred Bank from a “buy” rating to a “neutral” rating and decreased their target price for the company from $60.00 to $52.00 in a research report on Wednesday, June 5th. Zacks Investment Research downgraded shares of Preferred Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Raymond James decreased their target price 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. Finally, FIG Partners restated an “outperform” rating on shares of Preferred Bank in a research report on Friday, April 12th.
Shares of NASDAQ:PFBC traded down $0.07 on Tuesday, hitting $45.16. 42,300 shares of the company were exchanged, compared to its average volume of 66,546. Preferred Bank has a 1-year low of $39.87 and a 1-year high of $69.48. The stock has a 50 day moving average price of $46.51. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market cap of $680.11 million, a price-to-earnings ratio of 9.93, a P/E/G ratio of 0.87 and a beta of 1.21.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Monday, July 8th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.66%. Preferred Bank’s dividend payout ratio (DPR) is currently 26.37%.
Institutional investors have recently modified their holdings of the business. Capital Impact Advisors LLC raised its position in shares of Preferred Bank by 13.1% in the fourth quarter. Capital Impact Advisors LLC now owns 33,915 shares of the bank’s stock worth $1,473,000 after acquiring an additional 3,917 shares during the period. Oregon Public Employees Retirement Fund acquired a new position in shares of Preferred Bank in the fourth quarter worth about $230,000. New York State Common Retirement Fund raised its position in shares of Preferred Bank by 18.6% in the fourth quarter. New York State Common Retirement Fund now owns 34,202 shares of the bank’s stock worth $1,483,000 after acquiring an additional 5,364 shares during the period. Royce & Associates LP acquired a new position in shares of Preferred Bank in the first quarter worth about $308,000. Finally, BNP Paribas Arbitrage SA raised its position 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 worth $130,000 after acquiring an additional 2,897 shares during the period. Institutional investors and hedge funds own 77.48% of the company’s stock.
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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