Preferred Bank (PFBC) Given Average Rating of “Hold” by Analysts

Preferred Bank (NASDAQ:PFBC) has been given a consensus rating of “Hold” by the six ratings firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $66.33.

Several analysts have weighed in on PFBC shares. Zacks Investment Research raised Preferred Bank from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. Stephens reaffirmed a “hold” rating and set a $51.00 target price on shares of Preferred Bank in a research note on Tuesday, January 22nd. Finally, BidaskClub downgraded Preferred Bank from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 4th.

Several institutional investors and hedge funds have recently bought and sold shares of PFBC. Metropolitan Life Insurance Co. NY raised its stake in shares of Preferred Bank by 319.0% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,710 shares of the bank’s stock worth $204,000 after buying an additional 3,586 shares in the last quarter. Aptus Capital Advisors LLC bought a new stake in shares of Preferred Bank in the 4th quarter worth $213,000. Wakefield Asset Management LLLP bought a new stake in shares of Preferred Bank in the 3rd quarter worth $218,000. Oregon Public Employees Retirement Fund bought a new stake in shares of Preferred Bank in the 4th quarter worth $230,000. Finally, CIBC World Markets Inc. bought a new stake in shares of Preferred Bank in the 3rd quarter worth $251,000. 90.60% of the stock is currently owned by institutional investors.

Preferred Bank stock traded up $0.31 during mid-day trading on Friday, hitting $48.85. 71,756 shares of the company’s stock traded hands, compared to its average volume of 52,955. The company has a market capitalization of $640.24 million, a P/E ratio of 10.74, a PEG ratio of 0.94 and a beta of 1.18. Preferred Bank has a one year low of $39.87 and a one year high of $69.48.

Preferred Bank (NASDAQ:PFBC) last announced its earnings results on Thursday, January 17th. The bank reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.11). The business had revenue of $45.85 million for the quarter, compared to the consensus estimate of $42.11 million. Preferred Bank had a net margin of 34.70% and a return on equity of 17.71%. Equities research analysts predict that Preferred Bank will post 5.21 earnings per share for the current year.

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, 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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