BidaskClub downgraded shares of Preferred Bank (NASDAQ:PFBC) from a hold rating to a sell rating in a report published on Saturday, BidAskClub reports.

A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Preferred Bank from a hold rating to a buy rating and set a $47.00 price objective on the stock in a research note on Wednesday, March 27th. FIG Partners reiterated an outperform rating on shares of Preferred Bank in a research note on Friday, April 12th. Raymond James reduced their price objective on shares of Preferred Bank from $60.00 to $58.00 and set a strong-buy rating on the stock in a research note on Monday, April 22nd. Finally, DA Davidson downgraded shares of Preferred Bank from a buy rating to a neutral rating and reduced their price objective for the stock from $60.00 to $52.00 in a research note on Wednesday, June 5th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Hold and an average price target of $56.80.

PFBC stock opened at $45.16 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.07 and a quick ratio of 1.07. The company has a 50-day simple moving average of $46.51. Preferred Bank has a 52 week low of $39.87 and a 52 week high of $69.48. The firm has a market capitalization of $680.11 million, a P/E ratio of 9.93, a PEG ratio of 0.87 and a beta of 1.21.

Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings results on Wednesday, April 17th. The bank reported $1.30 EPS for the quarter, beating 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 business had revenue of $42.77 million for the quarter, compared to the consensus estimate of $42.96 million. On average, equities research analysts anticipate that Preferred Bank will post 5.21 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Monday, July 8th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.20 dividend on an annualized basis and a yield of 2.66%. Preferred Bank’s payout ratio is 26.37%.

Institutional investors have recently made changes to their positions in the business. Quantamental Technologies LLC acquired a new stake in Preferred Bank during the first quarter worth about $31,000. BNP Paribas Arbitrage SA boosted its stake in shares of Preferred Bank by 72,425.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,901 shares of the bank’s stock valued at $130,000 after purchasing an additional 2,897 shares in the last quarter. Convergence Investment Partners LLC acquired a new stake in shares of Preferred Bank in the 1st quarter valued at approximately $139,000. SG Americas Securities LLC acquired a new stake in shares of Preferred Bank in the 1st quarter valued at approximately $199,000. Finally, Metropolitan Life Insurance Co. NY boosted its stake in shares of Preferred Bank by 319.0% in the 4th 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. Hedge funds and other institutional investors own 77.48% 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 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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Analyst Recommendations for Preferred Bank (NASDAQ:PFBC)

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