Preferred Bank (NASDAQ:PFBC) Receives Consensus Rating of “Buy” from Brokerages

Shares of Preferred Bank (NASDAQ:PFBCGet Rating) have earned an average rating of “Buy” from the six ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $89.60.

A number of equities analysts have recently weighed in on PFBC shares. StockNews.com began coverage on Preferred Bank in a research report on Thursday, March 31st. They set a “hold” rating on the stock. B. Riley lowered their price objective on shares of Preferred Bank from $100.00 to $95.00 in a report on Tuesday, April 12th.

NASDAQ:PFBC opened at $66.30 on Tuesday. Preferred Bank has a 12 month low of $57.27 and a 12 month high of $81.97. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $997.82 million, a price-to-earnings ratio of 9.84 and a beta of 1.25. The firm has a fifty day simple moving average of $68.26 and a two-hundred day simple moving average of $72.67.

Preferred Bank (NASDAQ:PFBCGet Rating) last issued its earnings results on Tuesday, April 19th. The bank reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.05. The business had revenue of $52.30 million during the quarter, compared to analyst estimates of $51.97 million. Preferred Bank had a return on equity of 17.38% and a net margin of 44.96%. During the same period in the previous year, the company posted $1.42 EPS. Equities analysts predict that Preferred Bank will post 7.47 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of PFBC. Philadelphia Financial Management of San Francisco LLC bought a new position in Preferred Bank during the fourth quarter worth about $9,803,000. Millennium Management LLC boosted its holdings in Preferred Bank by 2,163.0% in the 4th quarter. Millennium Management LLC now owns 139,561 shares of the bank’s stock worth $10,019,000 after buying an additional 133,394 shares during the period. Invesco Ltd. grew its stake in Preferred Bank by 209.9% in the 1st quarter. Invesco Ltd. now owns 153,655 shares of the bank’s stock valued at $11,384,000 after buying an additional 104,067 shares in the last quarter. State Street Corp raised its holdings in Preferred Bank by 15.9% during the 1st quarter. State Street Corp now owns 646,205 shares of the bank’s stock valued at $47,877,000 after acquiring an additional 88,699 shares during the period. Finally, Norges Bank purchased a new stake in shares of Preferred Bank during the fourth quarter worth $4,035,000. Institutional investors own 73.22% of the company’s stock.

About Preferred Bank (Get Rating)

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 accepts checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.

Featured Stories

Analyst Recommendations for Preferred Bank (NASDAQ:PFBC)

Want More Great Investing Ideas?

Receive News & Ratings for Preferred Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Preferred Bank and related companies with MarketBeat.com's FREE daily email newsletter.