Preferred Bank (NASDAQ:PFBC) PT Raised to $94.00 at Stephens

Preferred Bank (NASDAQ:PFBC) had its price target lifted by Stephens from $90.00 to $94.00 in a report issued on Tuesday, Benzinga reports. They currently have an overweight rating on the bank’s stock.

Separately, Piper Sandler boosted their price objective on shares of Preferred Bank from $88.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th.

Preferred Bank Price Performance

Shares of NASDAQ PFBC opened at $82.04 on Tuesday. Preferred Bank has a 1 year low of $58.52 and a 1 year high of $91.67. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 1.07. The company’s 50-day moving average is $80.75 and its 200 day moving average is $78.38. The stock has a market capitalization of $1.18 billion, a P/E ratio of 8.22 and a beta of 0.95.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Monday, October 21st. The bank reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.07. Preferred Bank had a net margin of 26.20% and a return on equity of 19.01%. The company had revenue of $132.88 million for the quarter, compared to analysts’ expectations of $68.80 million. During the same quarter in the previous year, the company earned $2.71 earnings per share. On average, sell-side analysts expect that Preferred Bank will post 9.54 earnings per share for the current year.

Preferred Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Monday, October 7th. Preferred Bank’s payout ratio is currently 28.06%.

Institutional Investors Weigh In On Preferred Bank

Several hedge funds have recently bought and sold shares of the business. Texas Permanent School Fund Corp boosted its stake in Preferred Bank by 1.6% during the first quarter. Texas Permanent School Fund Corp now owns 10,964 shares of the bank’s stock worth $842,000 after acquiring an additional 169 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of Preferred Bank by 1.6% in the second quarter. SummerHaven Investment Management LLC now owns 12,846 shares of the bank’s stock worth $970,000 after buying an additional 201 shares in the last quarter. WINTON GROUP Ltd lifted its stake in shares of Preferred Bank by 1.7% in the second quarter. WINTON GROUP Ltd now owns 13,970 shares of the bank’s stock worth $1,055,000 after buying an additional 232 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of Preferred Bank by 0.9% in the second quarter. Federated Hermes Inc. now owns 30,228 shares of the bank’s stock worth $2,282,000 after buying an additional 274 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Preferred Bank by 6.7% in the second quarter. Sei Investments Co. now owns 5,137 shares of the bank’s stock worth $388,000 after buying an additional 323 shares in the last quarter. Institutional investors own 72.77% of the company’s stock.

About Preferred Bank

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. The company accepts checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.