FIG Partners reaffirmed their outperform rating on shares of Preferred Bank (NASDAQ:PFBC) in a research report released on Friday, Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Preferred Bank from a hold rating to a buy rating and set a $47.00 price objective for the company in a research report on Wednesday, March 27th. BidaskClub raised shares of Preferred Bank from a strong sell rating to a sell rating in a research report on Wednesday, March 27th. Finally, Stephens reaffirmed a hold rating and issued a $51.00 target price on shares of Preferred Bank in a research report on Tuesday, January 22nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Preferred Bank presently has a consensus rating of Hold and a consensus price target of $61.50.

Shares of PFBC stock opened at $46.34 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.24. Preferred Bank has a 12-month low of $39.87 and a 12-month high of $69.48. The firm has a market cap of $708.55 million, a PE ratio of 10.12, a P/E/G ratio of 0.90 and a beta of 1.15.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings data on Thursday, January 17th. The bank reported $1.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by ($0.11). Preferred Bank had a return on equity of 17.69% and a net margin of 34.70%. The company had revenue of $45.85 million for the quarter, compared to the consensus estimate of $42.11 million. On average, research analysts anticipate that Preferred Bank will post 5.18 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 8th will be given a $0.30 dividend. The ex-dividend date is Friday, April 5th. This represents a $1.20 dividend on an annualized basis and a yield of 2.59%. This is an increase from Preferred Bank’s previous quarterly dividend of $0.12. Preferred Bank’s dividend payout ratio (DPR) is 26.37%.

A number of institutional investors have recently added to or reduced their stakes in PFBC. Metropolitan Life Insurance Co. NY grew its position in Preferred Bank by 319.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,710 shares of the bank’s stock valued at $204,000 after purchasing an additional 3,586 shares in the last quarter. Aptus Capital Advisors LLC bought a new position in Preferred Bank in the fourth quarter valued at $213,000. Wakefield Asset Management LLLP bought a new position in Preferred Bank in the third quarter valued at $218,000. Oregon Public Employees Retirement Fund bought a new position in Preferred Bank in the fourth quarter valued at $230,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in Preferred Bank in the fourth quarter valued at $305,000. 90.63% of the stock is owned by institutional investors and hedge funds.

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 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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