Stephens assumed coverage on shares of Preferred Bank (NASDAQ:PFBC) in a note issued to investors on Thursday. The brokerage set an “equal weight” rating on the bank’s stock.
Separately, FBR & Co boosted their target price on shares of Preferred Bank from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, January 23rd.
Preferred Bank (NASDAQ:PFBC) traded up 0.92% during trading on Thursday, hitting $50.68. 36,074 shares of the company were exchanged. The company has a market capitalization of $716.36 million, a price-to-earnings ratio of 19.79 and a beta of 1.07. Preferred Bank has a 12 month low of $27.07 and a 12 month high of $58.12. The stock’s 50-day moving average is $52.44 and its 200-day moving average is $48.49.
Preferred Bank (NASDAQ:PFBC) last issued its earnings results on Wednesday, April 19th. The bank reported $0.71 EPS for the quarter, topping the consensus estimate of $0.70 by $0.01. The company had revenue of $30.53 million for the quarter, compared to analyst estimates of $30 million. Preferred Bank had a net margin of 28.23% and a return on equity of 12.83%. Equities research analysts anticipate that Preferred Bank will post $3.01 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 21st. Shareholders of record on Friday, April 7th will be given a dividend of $0.18 per share. The ex-dividend date is Wednesday, April 5th. This represents a $0.72 annualized dividend and a dividend yield of 1.43%. Preferred Bank’s payout ratio is currently 28.02%.
Several large investors have recently modified their holdings of PFBC. Acrospire Investment Management LLC raised its stake in Preferred Bank by 6.1% in the third quarter. Acrospire Investment Management LLC now owns 3,472 shares of the bank’s stock valued at $124,000 after buying an additional 200 shares in the last quarter. BlackRock Inc. raised its stake in Preferred Bank by 52.3% in the third quarter. BlackRock Inc. now owns 6,493 shares of the bank’s stock valued at $232,000 after buying an additional 2,231 shares in the last quarter. Stanley Laman Group Ltd. acquired a new stake in Preferred Bank during the third quarter valued at approximately $246,000. GSA Capital Partners LLP acquired a new stake in Preferred Bank during the fourth quarter valued at approximately $250,000. Finally, LSV Asset Management acquired a new stake in Preferred Bank during the third quarter valued at approximately $368,000. Institutional investors own 67.61% of the company’s stock.
About Preferred Bank
Preferred Bank is a commercial bank. The Bank provides deposit services, as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals and high net worth individuals. The Bank offers various services, such as personal banking, business banking and treasury management.
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