BidaskClub upgraded shares of Preferred Bank (NASDAQ:PFBC) from a sell rating to a hold rating in a report released on Wednesday morning.

A number of other equities research analysts have also recently commented on the company. ValuEngine cut Preferred Bank from a buy rating to a hold rating in a research note on Friday, December 1st. Zacks Investment Research raised Preferred Bank from a hold rating to a buy rating and set a $67.00 price objective for the company in a research note on Wednesday, November 29th. Finally, FBR & Co reissued a buy rating and issued a $70.00 price objective (up previously from $65.00) on shares of Preferred Bank in a research note on Wednesday, October 25th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $68.50.

Shares of Preferred Bank (NASDAQ PFBC) opened at $62.78 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.35. Preferred Bank has a one year low of $46.88 and a one year high of $66.58. The company has a market capitalization of $840.73, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 1.91 and a beta of 0.92.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings data on Tuesday, October 24th. The bank reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.09. Preferred Bank had a return on equity of 15.22% and a net margin of 29.33%. The firm had revenue of $36.67 million during the quarter, compared to analysts’ expectations of $34.68 million. equities research analysts expect that Preferred Bank will post 3.34 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its position in shares of Preferred Bank by 80.4% during the third quarter. BNP Paribas Arbitrage SA now owns 2,415 shares of the bank’s stock valued at $146,000 after buying an additional 1,076 shares during the last quarter. Stevens Capital Management LP purchased a new position in shares of Preferred Bank during the third quarter valued at approximately $237,000. Sheaff Brock Investment Advisors LLC purchased a new position in shares of Preferred Bank during the second quarter valued at approximately $220,000. Voya Investment Management LLC purchased a new position in shares of Preferred Bank during the second quarter valued at approximately $269,000. Finally, Capital Fund Management S.A. purchased a new position in shares of Preferred Bank during the second quarter valued at approximately $283,000. 80.11% of the stock is currently owned by institutional investors.

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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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