Preferred Bank (NASDAQ:PFBC) Lowered to “Hold” Rating by Brean Capital

Preferred Bank (NASDAQ:PFBC) was downgraded by analysts at Brean Capital from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

PFBC has been the topic of a number of other research reports. Piper Sandler lowered their target price on Preferred Bank from $121.00 to $111.00 and set an “overweight” rating on the stock in a research note on Monday, January 26th. Zacks Research lowered Preferred Bank from a “strong-buy” rating to a “hold” rating in a report on Friday, December 26th. Stephens reissued a “positive” rating on shares of Preferred Bank in a research note on Monday, January 26th. Weiss Ratings restated a “buy (b)” rating on shares of Preferred Bank in a report on Monday, December 29th. Finally, Janney Montgomery Scott began coverage on shares of Preferred Bank in a research report on Tuesday. They set a “neutral” rating and a $100.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $102.00.

Preferred Bank Stock Down 0.9%

Preferred Bank stock opened at $89.07 on Tuesday. Preferred Bank has a twelve month low of $71.90 and a twelve month high of $103.05. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $1.29 billion, a PE ratio of 8.58 and a beta of 0.65. The firm’s 50 day moving average price is $93.37 and its two-hundred day moving average price is $92.85.

Preferred Bank (NASDAQ:PFBC) last issued its earnings results on Thursday, January 22nd. The bank reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.78 by $0.01. Preferred Bank had a net margin of 26.41% and a return on equity of 17.31%. The company had revenue of $78.07 million during the quarter, compared to analyst estimates of $74.54 million. On average, research analysts predict that Preferred Bank will post 9.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Preferred Bank

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in Preferred Bank by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 372,081 shares of the bank’s stock worth $32,205,000 after purchasing an additional 4,896 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Preferred Bank by 13.5% in the second quarter. American Century Companies Inc. now owns 291,858 shares of the bank’s stock valued at $25,259,000 after buying an additional 34,796 shares during the period. Denali Advisors LLC acquired a new stake in Preferred Bank during the third quarter worth about $3,091,000. Boston Partners grew its position in Preferred Bank by 1.3% during the second quarter. Boston Partners now owns 532,085 shares of the bank’s stock worth $46,428,000 after buying an additional 6,963 shares in the last quarter. Finally, New York State Common Retirement Fund increased its stake in Preferred Bank by 36.1% during the third quarter. New York State Common Retirement Fund now owns 31,322 shares of the bank’s stock valued at $2,831,000 after acquiring an additional 8,300 shares during the period. Institutional investors own 72.77% of the company’s stock.

Preferred Bank Company Profile

Preferred Bank (NASDAQ: PFBC) is a California-chartered commercial bank headquartered in Los Angeles. The institution offers a full range of banking products and services to businesses and individuals, with a particular emphasis on commercial real estate lending, business banking, treasury management and deposit accounts. Preferred Bank operates through branch offices across Southern California and national loan production offices in major U.S. markets.

The bank’s core lending portfolio focuses on commercial real estate acquisition, development and investment properties.