Preferred Bank (NASDAQ:PFBC) has been given a consensus recommendation of “Buy” by the nine brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, four have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $72.50.
PFBC has been the subject of a number of research analyst reports. BidaskClub raised shares of Preferred Bank from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. B. Riley reissued a “buy” rating and issued a $76.00 price target on shares of Preferred Bank in a research report on Wednesday, January 24th. Sandler O’Neill reissued a “buy” rating and issued a $73.00 price target on shares of Preferred Bank in a research report on Tuesday, January 23rd. Finally, Zacks Investment Research lowered shares of Preferred Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th.
A number of large investors have recently bought and sold shares of PFBC. Wells Fargo & Company MN raised its position in Preferred Bank by 30.6% in the third quarter. Wells Fargo & Company MN now owns 26,044 shares of the bank’s stock worth $1,572,000 after purchasing an additional 6,096 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Preferred Bank by 8.3% in the third quarter. Dimensional Fund Advisors LP now owns 525,325 shares of the bank’s stock worth $31,703,000 after purchasing an additional 40,270 shares in the last quarter. California Public Employees Retirement System raised its position in Preferred Bank by 7.8% in the third quarter. California Public Employees Retirement System now owns 36,879 shares of the bank’s stock worth $2,226,000 after purchasing an additional 2,679 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Preferred Bank by 4.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 100,739 shares of the bank’s stock worth $5,922,000 after purchasing an additional 4,425 shares in the last quarter. Finally, Eqis Capital Management Inc. raised its position in Preferred Bank by 26.6% in the fourth quarter. Eqis Capital Management Inc. now owns 5,577 shares of the bank’s stock worth $328,000 after purchasing an additional 1,172 shares in the last quarter. 85.26% of the stock is owned by hedge funds and other institutional investors.
Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings data on Thursday, April 19th. The bank reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.03. The business had revenue of $37.71 million during the quarter, compared to analyst estimates of $37.29 million. Preferred Bank had a net margin of 28.88% and a return on equity of 18.48%. equities research analysts predict that Preferred Bank will post 4.63 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 23rd. Investors of record on Monday, April 9th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.40%. The ex-dividend date was Friday, April 6th. Preferred Bank’s dividend payout ratio (DPR) is presently 25.73%.
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, negotiable order of withdrawal, 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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