Preferred Bank (PFBC) PT Set at $80.00 by B. Riley

Preferred Bank (NASDAQ:PFBC) has been given a $80.00 target price by investment analysts at B. Riley in a report released on Wednesday. The firm presently has a “buy” rating on the bank’s stock. B. Riley’s price objective would indicate a potential upside of 34.23% from the company’s current price.

PFBC has been the subject of several other reports. Zacks Investment Research downgraded Preferred Bank from a “hold” rating to a “sell” rating in a report on Sunday, July 15th. Stephens downgraded Preferred Bank from an “overweight” rating to an “equal weight” rating in a report on Friday, July 6th. BidaskClub downgraded Preferred Bank from a “hold” rating to a “sell” rating in a report on Wednesday, July 18th. Raymond James upgraded Preferred Bank from an “outperform” rating to a “strong-buy” rating in a report on Thursday, October 4th. Finally, ValuEngine downgraded Preferred Bank from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. Preferred Bank has an average rating of “Buy” and a consensus target price of $72.20.

NASDAQ PFBC opened at $59.60 on Wednesday. Preferred Bank has a one year low of $55.65 and a one year high of $69.48. The stock has a market capitalization of $771.50 million, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 1.26 and a beta of 0.93. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.28.

Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings data on Wednesday, October 17th. The bank reported $1.20 EPS for the quarter, topping the consensus estimate of $1.18 by $0.02. Preferred Bank had a return on equity of 17.86% and a net margin of 30.57%. The company had revenue of $40.91 million during the quarter, compared to the consensus estimate of $41.19 million. On average, sell-side analysts expect that Preferred Bank will post 4.63 EPS for the current year.

Large investors have recently made changes to their positions in the business. Mount Yale Investment Advisors LLC purchased a new position in Preferred Bank in the first quarter worth about $129,000. UBS Group AG boosted its position in Preferred Bank by 653.1% in the first quarter. UBS Group AG now owns 2,651 shares of the bank’s stock worth $170,000 after purchasing an additional 2,299 shares during the last quarter. GAM Holding AG purchased a new position in Preferred Bank in the second quarter worth about $241,000. Capital Fund Management S.A. purchased a new position in Preferred Bank in the second quarter worth about $246,000. Finally, Hsbc Holdings PLC purchased a new position in Preferred Bank in the first quarter worth about $267,000. 88.31% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Preferred Bank (NASDAQ:PFBC)

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