B. Riley set a $59.00 price objective on Preferred Bank (NASDAQ:PFBC) in a research note issued to investors on Thursday, Stock Target Advisor reports. The brokerage currently has a buy rating on the bank’s stock. B. Riley also issued estimates for Preferred Bank’s Q3 2019 earnings at $1.28 EPS and Q1 2020 earnings at $1.26 EPS.
PFBC has been the topic of several other research reports. ValuEngine raised Zogenix from a buy rating to a strong-buy rating in a report on Thursday, June 27th. BidaskClub raised Zillow Group from a buy rating to a strong-buy rating in a report on Tuesday, July 2nd. FIG Partners reaffirmed an outperform rating on shares of RBB Bancorp in a report on Friday, April 12th. Raymond James reaffirmed a buy rating on shares of West Fraser Timber in a report on Monday, April 22nd. Finally, Zacks Investment Research raised DLH from a sell rating to a hold rating in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $53.40.
NASDAQ:PFBC opened at $49.79 on Thursday. The stock’s fifty day moving average price is $46.43. Preferred Bank has a 52-week low of $39.87 and a 52-week high of $66.92. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $749.34 million, a P/E ratio of 10.44, a price-to-earnings-growth ratio of 0.96 and a beta of 1.20.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Monday, July 8th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, July 5th. Preferred Bank’s payout ratio is 26.37%.
Several institutional investors have recently modified their holdings of PFBC. LSV Asset Management raised its position in shares of Preferred Bank by 587.0% during the 1st quarter. LSV Asset Management now owns 230,033 shares of the bank’s stock valued at $10,344,000 after acquiring an additional 196,547 shares during the last quarter. BlackRock Inc. raised its position in shares of Preferred Bank by 5.8% during the 4th quarter. BlackRock Inc. now owns 2,166,036 shares of the bank’s stock valued at $93,897,000 after acquiring an additional 118,199 shares during the last quarter. Cadence Capital Management LLC raised its position in shares of Preferred Bank by 114.0% during the 1st quarter. Cadence Capital Management LLC now owns 49,727 shares of the bank’s stock valued at $2,236,000 after acquiring an additional 26,485 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Preferred Bank by 4.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 613,310 shares of the bank’s stock valued at $26,587,000 after acquiring an additional 24,728 shares during the last quarter. Finally, Brandywine Global Investment Management LLC raised its position in shares of Preferred Bank by 305.4% during the 4th quarter. Brandywine Global Investment Management LLC now owns 26,027 shares of the bank’s stock valued at $1,129,000 after acquiring an additional 19,607 shares during the last quarter. Institutional investors own 77.39% 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 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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