Preferred Bank (NASDAQ:PFBC – Get Rating) had its price target reduced by equities researchers at B. Riley from $95.00 to $80.00 in a research note issued to investors on Monday, The Fly reports. B. Riley’s price target indicates a potential upside of 16.77% from the stock’s previous close.
A number of other research analysts also recently weighed in on PFBC. StockNews.com began coverage on Preferred Bank in a report on Thursday, March 31st. They set a “hold” rating on the stock. Raymond James downgraded Preferred Bank from an “outperform” rating to a “market perform” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.60.
Shares of NASDAQ PFBC opened at $68.51 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 10.16 and a beta of 1.19. The stock’s fifty day simple moving average is $67.53 and its 200 day simple moving average is $72.74. Preferred Bank has a 52-week low of $57.27 and a 52-week high of $81.97.
Preferred Bank (NASDAQ:PFBC – Get Rating) last issued its quarterly earnings results on Tuesday, April 19th. The bank reported $1.74 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.05. Preferred Bank had a return on equity of 17.38% and a net margin of 44.96%. The business had revenue of $52.30 million for the quarter, compared to the consensus estimate of $51.97 million. During the same quarter in the previous year, the company posted $1.42 earnings per share. As a group, analysts anticipate that Preferred Bank will post 7.62 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue lifted its position in shares of Preferred Bank by 9.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 10,293 shares of the bank’s stock worth $700,000 after purchasing an additional 895 shares during the last quarter. Avalon Investment & Advisory acquired a new position in shares of Preferred Bank during the 1st quarter worth about $2,866,000. Quantbot Technologies LP acquired a new position in shares of Preferred Bank during the 1st quarter worth about $179,000. Captrust Financial Advisors lifted its position in shares of Preferred Bank by 887.8% during the 1st quarter. Captrust Financial Advisors now owns 484 shares of the bank’s stock worth $36,000 after purchasing an additional 435 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Preferred Bank by 15.9% during the 1st quarter. State Street Corp now owns 646,205 shares of the bank’s stock worth $47,877,000 after purchasing an additional 88,699 shares during the last quarter. 73.22% of the stock is owned by institutional investors and hedge funds.
Preferred Bank Company Profile (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.