UBS Group upgraded shares of Preferred Bank (NASDAQ:PFBC) from an outperform rating to a strong-buy rating in a research note published on Tuesday morning, The Fly reports.

A number of other research firms have also recently weighed in on PFBC. Zacks Investment Research cut Preferred Bank from a buy rating to a hold rating in a research report on Thursday, November 2nd. ValuEngine cut Preferred Bank from a buy rating to a hold rating in a research report on Friday, December 1st. BidaskClub cut Preferred Bank from a hold rating to a sell rating in a research report on Thursday, December 14th. Finally, FBR & Co reaffirmed a buy rating and set a $70.00 price objective (up from $65.00) on shares of Preferred Bank in a research report on Wednesday, October 25th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and three have given a strong buy rating to the company’s stock. Preferred Bank has an average rating of Buy and an average price target of $71.33.

Preferred Bank (PFBC) traded up $0.20 during mid-day trading on Tuesday, hitting $63.40. The stock had a trading volume of 101,961 shares, compared to its average volume of 74,195. Preferred Bank has a 12-month low of $46.88 and a 12-month high of $66.58. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.35. The stock has a market cap of $833.48, a PE ratio of 20.06, a P/E/G ratio of 1.49 and a beta of 0.92.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings data on Tuesday, October 24th. The bank reported $0.94 earnings per share 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 for the quarter, compared to analysts’ expectations of $34.68 million. equities analysts forecast that Preferred Bank will post 3.35 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 22nd. Stockholders of record on Monday, January 8th will be given a dividend of $0.22 per share. This is a boost from Preferred Bank’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Friday, January 5th. Preferred Bank’s payout ratio is presently 27.85%.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Preferred Bank by 6.3% during the 2nd quarter. Vanguard Group Inc. now owns 554,921 shares of the bank’s stock valued at $29,672,000 after purchasing an additional 32,867 shares during the period. Dimensional Fund Advisors LP raised its stake in Preferred Bank by 8.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 525,325 shares of the bank’s stock valued at $31,703,000 after purchasing an additional 40,270 shares during the period. State Street Corp raised its stake in Preferred Bank by 61.7% during the 2nd quarter. State Street Corp now owns 388,696 shares of the bank’s stock valued at $20,782,000 after purchasing an additional 148,363 shares during the period. Renaissance Technologies LLC raised its stake in Preferred Bank by 7.5% during the 2nd quarter. Renaissance Technologies LLC now owns 373,057 shares of the bank’s stock valued at $19,947,000 after purchasing an additional 26,002 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Preferred Bank by 10.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 303,839 shares of the bank’s stock valued at $16,246,000 after purchasing an additional 28,844 shares during the period. 79.89% 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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