BidaskClub downgraded shares of Preferred Bank (NASDAQ:PFBC) from a hold rating to a sell rating in a report issued on Saturday morning, BidAskClub reports.

A number of other equities analysts have also recently issued reports on PFBC. Zacks Investment Research upgraded shares of Preferred Bank from a hold rating to a buy rating and set a $47.00 price objective for the company in a research note on Wednesday, March 27th. FIG Partners restated an outperform rating on shares of Preferred Bank in a research note on Friday, April 12th. Raymond James dropped their price objective on shares of Preferred Bank from $60.00 to $58.00 and set a strong-buy rating for the company in a research note on Monday, April 22nd. Finally, DA Davidson cut shares of Preferred Bank from a buy rating to a neutral rating and dropped their price objective for the company from $60.00 to $52.00 in a research note on Wednesday, June 5th. Three research analysts have rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Hold and an average price target of $56.80.

Shares of Preferred Bank stock opened at $45.23 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.23. Preferred Bank has a fifty-two week low of $39.87 and a fifty-two week high of $69.48. The firm has a fifty day moving average of $46.61. The company has a market cap of $680.11 million, a P/E ratio of 9.94, a PEG ratio of 0.87 and a beta of 1.21.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings data on Wednesday, April 17th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.06. Preferred Bank had a net margin of 33.75% and a return on equity of 17.82%. The company had revenue of $42.77 million during the quarter, compared to analysts’ expectations of $42.96 million. As a group, analysts forecast that Preferred Bank will post 5.21 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Friday, July 5th. Preferred Bank’s dividend payout ratio is 26.37%.

Several hedge funds have recently made changes to their positions in the company. Marshall Wace LLP boosted its stake in Preferred Bank by 13.1% during the 1st quarter. Marshall Wace LLP now owns 149,053 shares of the bank’s stock worth $6,703,000 after acquiring an additional 17,228 shares during the last quarter. Palouse Capital Management Inc. raised its holdings in Preferred Bank by 23.6% during the 1st quarter. Palouse Capital Management Inc. now owns 6,192 shares of the bank’s stock worth $278,000 after buying an additional 1,183 shares during the period. Context BH Capital Management LP raised its holdings in Preferred Bank by 0.7% during the 1st quarter. Context BH Capital Management LP now owns 70,521 shares of the bank’s stock worth $3,171,000 after buying an additional 492 shares during the period. Royce & Associates LP acquired a new stake in Preferred Bank during the 1st quarter worth approximately $308,000. Finally, Martingale Asset Management L P raised its holdings in Preferred Bank by 11.0% during the 1st quarter. Martingale Asset Management L P now owns 39,500 shares of the bank’s stock worth $1,777,000 after buying an additional 3,900 shares during the period. Institutional investors own 77.48% 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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Analyst Recommendations for Preferred Bank (NASDAQ:PFBC)

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