Preferred Bank (NASDAQ:PFBC) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Saturday, BidAskClub reports.

A number of other research analysts also recently issued reports on PFBC. Janney Montgomery Scott downgraded shares of Preferred Bank from a “buy” rating to a “neutral” rating in a research report on Thursday, October 17th. Zacks Investment Research downgraded shares of Preferred Bank from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 23rd. DA Davidson set a $56.00 price objective on shares of Preferred Bank and gave the stock a “hold” rating in a research report on Friday, July 19th. Raymond James lifted their price objective on shares of Preferred Bank from $55.00 to $56.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, B. Riley downgraded shares of Preferred Bank from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $59.00 to $55.00 in a research report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $53.00.

NASDAQ PFBC traded down $0.51 during trading on Friday, reaching $54.04. 5,751 shares of the company’s stock traded hands, compared to its average volume of 46,695. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market cap of $824.44 million, a price-to-earnings ratio of 11.88 and a beta of 1.15. The company’s 50 day simple moving average is $53.29 and its two-hundred day simple moving average is $50.24. Preferred Bank has a 12-month low of $39.87 and a 12-month high of $55.55.

Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Wednesday, October 16th. The bank reported $1.32 EPS for the quarter, meeting analysts’ consensus estimates of $1.32. The business had revenue of $43.21 million for the quarter, compared to the consensus estimate of $44.22 million. Preferred Bank had a net margin of 32.86% and a return on equity of 17.53%. Research analysts expect that Preferred Bank will post 5.18 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Preferred Bank by 1.5% in the 2nd quarter. BlackRock Inc. now owns 2,117,451 shares of the bank’s stock worth $100,051,000 after buying an additional 31,589 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Preferred Bank by 0.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,257,583 shares of the bank’s stock worth $59,421,000 after purchasing an additional 6,230 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in Preferred Bank by 10.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 931,544 shares of the bank’s stock worth $44,016,000 after purchasing an additional 85,003 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Preferred Bank by 2.5% in the 2nd quarter. Renaissance Technologies LLC now owns 384,455 shares of the bank’s stock worth $18,165,000 after purchasing an additional 9,200 shares in the last quarter. Finally, LSV Asset Management boosted its stake in Preferred Bank by 31.1% in the 2nd quarter. LSV Asset Management now owns 301,602 shares of the bank’s stock worth $14,250,000 after purchasing an additional 71,569 shares in the last quarter. 77.39% of the stock is currently owned by hedge funds and other institutional investors.

Preferred Bank Company Profile

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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