Preferred Bank (NASDAQ:PFBC) Downgraded by BidaskClub to “Hold”
BidaskClub lowered shares of Preferred Bank (NASDAQ:PFBC) from a buy rating to a hold rating in a research note released on Thursday.
Other equities analysts have also issued research reports about the stock. FBR & Co reaffirmed a buy rating on shares of Preferred Bank in a research note on Wednesday, July 19th. Zacks Investment Research raised shares of Preferred Bank from a hold rating to a buy rating and set a $56.00 price objective for the company in a research note on Saturday, June 24th. ValuEngine raised shares of Preferred Bank from a hold rating to a buy rating in a research note on Friday, June 2nd. Finally, Stephens initiated coverage on shares of Preferred Bank in a research note on Thursday, April 6th. They issued an equal weight rating for the company. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Preferred Bank has an average rating of Buy and a consensus price target of $45.33.
Shares of Preferred Bank (PFBC) traded down 0.02% during trading on Thursday, reaching $56.03. The company had a trading volume of 13,699 shares. The stock has a market capitalization of $803.92 million, a price-to-earnings ratio of 19.24 and a beta of 0.96. Preferred Bank has a 52-week low of $32.00 and a 52-week high of $58.98. The stock has a 50 day moving average of $54.07 and a 200 day moving average of $53.46.
Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings data on Tuesday, July 18th. The bank reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.05. Preferred Bank had a net margin of 28.91% and a return on equity of 14.18%. The firm had revenue of $32.55 million during the quarter, compared to analyst estimates of $31.78 million. Equities research analysts forecast that Preferred Bank will post $3.20 EPS for the current year.
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The business also recently announced a quarterly dividend, which was paid on Friday, July 21st. Shareholders of record on Friday, July 7th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.43%. This is a positive change from Preferred Bank’s previous quarterly dividend of $0.18. Preferred Bank’s dividend payout ratio (DPR) is 27.49%.
Several large investors have recently modified their holdings of the stock. US Bancorp DE raised its stake in shares of Preferred Bank by 14.5% in the first quarter. US Bancorp DE now owns 3,402 shares of the bank’s stock worth $183,000 after buying an additional 431 shares during the period. SG Americas Securities LLC raised its stake in shares of Preferred Bank by 86.9% in the first quarter. SG Americas Securities LLC now owns 3,726 shares of the bank’s stock worth $200,000 after buying an additional 1,732 shares during the period. UBS Asset Management Americas Inc. bought a new stake in shares of Preferred Bank during the first quarter worth about $207,000. Affinity Investment Advisors LLC bought a new stake in shares of Preferred Bank during the first quarter worth about $215,000. Finally, Nine Chapters Capital Management LLC bought a new stake in shares of Preferred Bank during the first quarter worth about $220,000. 75.01% of the stock is owned by institutional investors.
Preferred Bank Company Profile
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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