Preferred Bank (NASDAQ:PFBC) Stock Price Breaks Above 200 Day Moving Average – Should You Sell?

Preferred Bank (NASDAQ:PFBC) shares passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $100.08 and traded as high as $106.48. Preferred Bank shares last traded at $105.23, with a volume of 118,720 shares.

Wall Street Analysts Forecast Growth

PFBC has been the topic of several recent research reports. Benchmark raised shares of Preferred Bank to a “strong-buy” rating in a report on Wednesday, September 23rd. Piper Sandler boosted their target price on shares of Preferred Bank from $115.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, October 1st. Stephens increased their target price on Preferred Bank from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Preferred Bank in a research report on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $108.50.

Preferred Bank Stock Performance

The firm has a market capitalization of $1.49 billion, a PE ratio of 9.42 and a beta of 0.57. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average of $105.20 and a 200 day moving average of $100.20.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.13. The firm had revenue of $73.47 million during the quarter, compared to the consensus estimate of $73.60 million. Preferred Bank had a return on equity of 17.27% and a net margin of 26.54%. Equities research analysts predict that Preferred Bank will post 10.74 EPS for the current year.

Preferred Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 19th. Stockholders of record on Monday, October 5th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, October 5th. This represents a $3.20 annualized dividend and a dividend yield of 3.1%. Preferred Bank’s dividend payout ratio (DPR) is 29.25%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFBC. Public Employees Retirement System of Ohio purchased a new stake in Preferred Bank during the second quarter valued at about $25,000. Integrated Wealth Concepts LLC purchased a new position in shares of Preferred Bank in the 2nd quarter worth about $55,000. Nykredit A S bought a new position in shares of Preferred Bank during the 2nd quarter valued at about $102,000. Great Lakes Advisors LLC bought a new position in shares of Preferred Bank during the 2nd quarter valued at about $201,000. Finally, DGS Capital Management LLC bought a new position in shares of Preferred Bank during the 4th quarter valued at about $248,000. 72.77% of the stock is currently owned by hedge funds and other institutional investors.

Preferred Bank Company Profile

Preferred Bank (NASDAQ:PFBC) is a commercial bank headquartered in Los Angeles, California. Founded in 1991, the bank provides banking and financial services to businesses, professionals, real estate investors and individuals, with a particular focus on small and medium-sized businesses and communities in California and New York.

The bank offers a range of deposit products, including checking, savings, money market accounts and certificates of deposit. Its lending activities include commercial real estate loans, commercial and industrial financing, residential real estate loans, small business loans and consumer lending.