Preferred Bank (NASDAQ:PFBC) had its target price cut by equities researchers at Raymond James from $60.00 to $58.00 in a report released on Monday, BenzingaRatingsTable reports. The firm presently has a “strong-buy” rating on the bank’s stock. Raymond James’ price objective points to a potential upside of 20.13% from the company’s previous close.

PFBC has been the subject of several other research reports. Zacks Investment Research cut shares of Preferred Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, January 16th. FIG Partners restated an “outperform” rating on shares of Preferred Bank in a research note on Friday, April 12th. Stephens restated a “hold” rating and issued a $51.00 target price on shares of Preferred Bank in a research note on Tuesday, January 22nd. Finally, BidaskClub upgraded shares of Preferred Bank from a “strong sell” rating to a “sell” rating in a research note on Wednesday, March 27th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Preferred Bank presently has a consensus rating of “Hold” and an average target price of $58.00.

PFBC stock opened at $48.28 on Monday. Preferred Bank has a one year low of $39.87 and a one year high of $69.48. The firm has a market capitalization of $702.08 million, a PE ratio of 10.61, a PEG ratio of 0.90 and a beta of 1.15. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.23.

Preferred Bank (NASDAQ:PFBC) last released its earnings results on Wednesday, April 17th. The bank reported $1.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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, research analysts expect that Preferred Bank will post 5.17 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in PFBC. Wells Fargo & Company MN lifted its stake in shares of Preferred Bank by 11.0% in the third quarter. Wells Fargo & Company MN now owns 48,364 shares of the bank’s stock valued at $2,830,000 after purchasing an additional 4,778 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Preferred Bank by 107.8% in the third quarter. Bank of New York Mellon Corp now owns 194,351 shares of the bank’s stock valued at $11,369,000 after purchasing an additional 100,819 shares during the period. Martingale Asset Management L P lifted its stake in shares of Preferred Bank by 246.9% in the third quarter. Martingale Asset Management L P now owns 25,712 shares of the bank’s stock valued at $1,505,000 after purchasing an additional 18,301 shares during the period. BlackRock Inc. lifted its stake in shares of Preferred Bank by 111.6% in the third quarter. BlackRock Inc. now owns 2,047,837 shares of the bank’s stock valued at $119,799,000 after purchasing an additional 1,079,822 shares during the period. Finally, Great West Life Assurance Co. Can lifted its stake in shares of Preferred Bank by 1,086.0% in the third quarter. Great West Life Assurance Co. Can now owns 17,137 shares of the bank’s stock valued at $1,002,000 after purchasing an additional 15,692 shares during the period. Hedge funds and other institutional investors own 90.63% 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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