DA Davidson Has Lowered Expectations for Preferred Bank (NASDAQ:PFBC) Stock Price

Preferred Bank (NASDAQ:PFBC) had its price target lowered by analysts at DA Davidson from $95.00 to $90.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. DA Davidson’s target price points to a potential upside of 14.05% from the stock’s previous close.

Several other equities research analysts have also commented on the company. Piper Sandler upped their price target on Preferred Bank from $101.00 to $111.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Stephens reiterated an “equal weight” rating and issued a $100.00 target price on shares of Preferred Bank in a research note on Thursday, January 30th.

Preferred Bank Stock Performance

PFBC traded down $1.22 during midday trading on Monday, reaching $78.91. The company had a trading volume of 50,205 shares, compared to its average volume of 83,702. Preferred Bank has a 1 year low of $71.43 and a 1 year high of $99.78. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average of $82.83 and a two-hundred day moving average of $86.85. The company has a market cap of $1.14 billion, a P/E ratio of 8.19 and a beta of 0.71.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings data on Friday, April 25th. The bank reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.10). Preferred Bank had a return on equity of 17.80% and a net margin of 25.00%. The firm had revenue of $65.96 million for the quarter, compared to analyst estimates of $70.78 million. During the same period in the previous year, the business earned $2.44 EPS. As a group, equities research analysts predict that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Preferred Bank

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Illinois Municipal Retirement Fund lifted its stake in Preferred Bank by 2.1% in the 1st quarter. Illinois Municipal Retirement Fund now owns 6,828 shares of the bank’s stock valued at $571,000 after buying an additional 138 shares in the last quarter. SummerHaven Investment Management LLC grew its position in shares of Preferred Bank by 1.5% in the first quarter. SummerHaven Investment Management LLC now owns 10,412 shares of the bank’s stock valued at $871,000 after purchasing an additional 157 shares during the period. Jump Financial LLC raised its stake in shares of Preferred Bank by 2.1% during the fourth quarter. Jump Financial LLC now owns 9,148 shares of the bank’s stock valued at $790,000 after purchasing an additional 185 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Preferred Bank by 3.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,064 shares of the bank’s stock valued at $610,000 after purchasing an additional 257 shares during the last quarter. Finally, KBC Group NV lifted its holdings in Preferred Bank by 46.2% in the fourth quarter. KBC Group NV now owns 914 shares of the bank’s stock worth $79,000 after purchasing an additional 289 shares during the period. Hedge funds and other institutional investors own 72.77% of the company’s stock.

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. 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.