B. Riley Analysts Give Preferred Bank (PFBC) a $76.00 Price Target

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Preferred Bank (NASDAQ:PFBC) received a $76.00 price target from equities research analysts at B. Riley in a note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the bank’s stock. B. Riley’s price objective would indicate a potential upside of 47.83% from the company’s current price. B. Riley also issued estimates for Preferred Bank’s Q4 2018 earnings at $1.24 EPS, FY2018 earnings at $4.66 EPS, Q1 2019 earnings at $1.25 EPS, Q2 2019 earnings at $1.28 EPS, Q3 2019 earnings at $1.36 EPS, Q4 2019 earnings at $1.40 EPS, FY2019 earnings at $5.30 EPS, Q1 2020 earnings at $1.45 EPS, Q2 2020 earnings at $1.41 EPS, Q3 2020 earnings at $1.48 EPS and FY2020 earnings at $5.85 EPS.

Several other equities research analysts have also recently weighed in on PFBC. BidaskClub upgraded shares of Preferred Bank from a “sell” rating to a “hold” rating in a research note on Friday, July 6th. Stephens cut shares of Preferred Bank from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 6th. Raymond James cut shares of Preferred Bank from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday, July 10th. Zacks Investment Research cut shares of Preferred Bank from a “hold” rating to a “sell” rating in a research note on Sunday, July 15th. Finally, ValuEngine cut shares of Preferred Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $72.00.

PFBC stock opened at $51.41 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.07 and a quick ratio of 1.07. Preferred Bank has a 52-week low of $49.45 and a 52-week high of $69.48. The stock has a market cap of $689.47 million, a price-to-earnings ratio of 15.03, a PEG ratio of 1.12 and a beta of 0.93.

Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings results on Wednesday, October 17th. The bank reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.02. Preferred Bank had a net margin of 31.74% and a return on equity of 18.39%. The company had revenue of $40.91 million during the quarter, compared to analysts’ expectations of $41.19 million. As a group, equities analysts anticipate that Preferred Bank will post 4.66 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFBC. Mount Yale Investment Advisors LLC bought a new stake in shares of Preferred Bank in the first quarter valued at about $129,000. UBS Group AG lifted its stake in Preferred Bank by 653.1% during the first quarter. UBS Group AG now owns 2,651 shares of the bank’s stock worth $170,000 after purchasing an additional 2,299 shares during the period. GAM Holding AG bought a new position in Preferred Bank during the second quarter worth about $241,000. Capital Fund Management S.A. bought a new position in Preferred Bank during the second quarter worth about $246,000. Finally, First Hawaiian Bank bought a new position in Preferred Bank during the third quarter worth about $257,000. Institutional investors and hedge funds own 88.49% 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, 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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Analyst Recommendations for Preferred Bank (NASDAQ:PFBC)

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