Preferred Bank (NASDAQ:PFBC) reached a new 52-week high during trading on Friday . The stock traded as high as $60.56 and last traded at $60.51, with a volume of 8073 shares changing hands. The stock had previously closed at $60.35.
Several research firms recently commented on PFBC. B. Riley raised their price target on shares of Preferred Bank from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Thursday, January 9th. Raymond James lowered shares of Preferred Bank from an “outperform” rating to a “market perform” rating and set a $56.00 price target on the stock. in a report on Tuesday, January 7th. BidaskClub lowered shares of Preferred Bank from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. Janney Montgomery Scott lowered shares of Preferred Bank from a “buy” rating to a “neutral” rating in a report on Thursday, October 17th. Finally, ValuEngine lowered shares of Preferred Bank from a “hold” rating to a “sell” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. Preferred Bank presently has a consensus rating of “Hold” and a consensus target price of $59.00.
The company has a debt-to-equity ratio of 0.26, a current ratio of 1.06 and a quick ratio of 1.06. The company’s 50-day simple moving average is $58.11 and its 200-day simple moving average is $53.40. The company has a market cap of $908.27 million, a price-to-earnings ratio of 13.30 and a beta of 1.20.
Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings data on Wednesday, October 16th. The bank reported $1.32 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.32. Preferred Bank had a net margin of 32.86% and a return on equity of 17.53%. The company had revenue of $43.21 million during the quarter, compared to the consensus estimate of $44.22 million. Equities analysts predict that Preferred Bank will post 5.17 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.99%. The ex-dividend date is Monday, January 6th. Preferred Bank’s dividend payout ratio (DPR) is 26.37%.
A number of large investors have recently modified their holdings of the business. Sheaff Brock Investment Advisors LLC acquired a new stake in shares of Preferred Bank during the third quarter worth approximately $210,000. Laurion Capital Management LP acquired a new stake in shares of Preferred Bank during the second quarter worth approximately $221,000. Susquehanna International Group LLP acquired a new stake in shares of Preferred Bank during the second quarter worth approximately $259,000. Public Employees Retirement System of Ohio grew its position in shares of Preferred Bank by 338.9% during the second quarter. Public Employees Retirement System of Ohio now owns 6,109 shares of the bank’s stock worth $289,000 after buying an additional 4,717 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Preferred Bank during the third quarter worth approximately $516,000. 77.29% of the stock is owned by institutional investors.
About Preferred Bank (NASDAQ:PFBC)
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, 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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