Preferred Bank’s (NASDAQ:PFBC) Buy Rating Reaffirmed at Sandler O’Neill

Sandler O’Neill reaffirmed their buy rating on shares of Preferred Bank (NASDAQ:PFBC) in a research report released on Tuesday, January 23rd. Sandler O’Neill currently has a $73.00 price target on the bank’s stock.

Several other research firms have also recently weighed in on PFBC. Zacks Investment Research upgraded shares of Preferred Bank from a hold rating to a buy rating and set a $73.00 price objective for the company in a research report on Saturday, October 28th. BidaskClub upgraded shares of Preferred Bank from a sell rating to a hold rating in a research report on Wednesday, December 6th. ValuEngine cut shares of Preferred Bank from a buy rating to a hold rating in a report on Friday, December 1st. Raymond James Financial upgraded shares of Preferred Bank from an outperform rating to a strong-buy rating and set a $71.00 price objective for the company in a report on Tuesday, January 9th. They noted that the move was a valuation call. Finally, UBS Group upgraded shares of Preferred Bank from an outperform rating to a strong-buy rating in a report on Tuesday, January 9th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. Preferred Bank currently has an average rating of Buy and an average target price of $72.60.

Preferred Bank (NASDAQ:PFBC) traded up $0.67 during trading hours on Tuesday, hitting $62.25. 66,700 shares of the stock were exchanged, compared to its average volume of 100,439. Preferred Bank has a one year low of $46.88 and a one year high of $67.65. The company has a market cap of $812.12, a P/E ratio of 20.96, a price-to-earnings-growth ratio of 1.35 and a beta of 0.96. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.35.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Monday, January 22nd. The bank reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.08. The firm had revenue of $35.78 million during the quarter, compared to the consensus estimate of $36.37 million. Preferred Bank had a net margin of 26.51% and a return on equity of 16.69%. equities research analysts predict that Preferred Bank will post 4.57 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 22nd. Stockholders of record on Monday, January 8th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Friday, January 5th. This is a positive change from Preferred Bank’s previous quarterly dividend of $0.20. Preferred Bank’s payout ratio is currently 29.63%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN grew its stake in shares of Preferred Bank by 1.1% in the second quarter. Wells Fargo & Company MN now owns 19,948 shares of the bank’s stock valued at $1,067,000 after acquiring an additional 226 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Preferred Bank by 0.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 77,103 shares of the bank’s stock valued at $4,123,000 after acquiring an additional 285 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Preferred Bank by 9.2% in the second quarter. The Manufacturers Life Insurance Company now owns 10,403 shares of the bank’s stock valued at $556,000 after acquiring an additional 875 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Preferred Bank by 80.4% in the third quarter. BNP Paribas Arbitrage SA now owns 2,415 shares of the bank’s stock valued at $146,000 after acquiring an additional 1,076 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Preferred Bank by 2.1% in the third quarter. Prudential Financial Inc. now owns 54,120 shares of the bank’s stock valued at $3,266,000 after acquiring an additional 1,090 shares in the last quarter. 80.48% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Preferred Bank (NASDAQ:PFBC)

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