Preferred Bank (NASDAQ:PFBC) Lowered to Hold Rating by Brean Capital

Brean Capital downgraded shares of Preferred Bank (NASDAQ:PFBC) from a strong-buy rating to a hold rating in a research report released on Tuesday morning,Zacks.com reports.

Several other brokerages have also issued reports on PFBC. Janney Montgomery Scott assumed coverage on shares of Preferred Bank in a research note on Tuesday. They issued a “neutral” rating and a $100.00 price target for the company. Stephens reaffirmed a “positive” rating on shares of Preferred Bank in a research note on Monday, January 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Preferred Bank in a research report on Monday, December 29th. Zacks Research downgraded Preferred Bank from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 26th. Finally, Piper Sandler lowered their price objective on Preferred Bank from $121.00 to $111.00 and set an “overweight” rating for the company in a research note on Monday, January 26th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Preferred Bank has a consensus rating of “Hold” and an average price target of $102.00.

Preferred Bank Stock Down 0.9%

Shares of NASDAQ:PFBC opened at $89.07 on Tuesday. The firm has a market capitalization of $1.29 billion, a P/E ratio of 8.58 and a beta of 0.65. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a 50 day moving average price of $93.37 and a 200-day moving average price of $92.85. Preferred Bank has a 52-week low of $71.90 and a 52-week high of $103.05.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings results on Thursday, January 22nd. The bank reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.01. The company had revenue of $78.07 million for the quarter, compared to analysts’ expectations of $74.54 million. Preferred Bank had a return on equity of 17.31% and a net margin of 26.41%. As a group, equities research analysts anticipate that Preferred Bank will post 9.81 EPS for the current fiscal year.

Preferred Bank Announces Dividend

The firm also recently declared an annual dividend, which was paid on Tuesday, January 20th. Stockholders of record on Tuesday, January 6th were paid a $3.20 dividend. The ex-dividend date was Tuesday, January 6th. This represents a dividend yield of 336.0%. Preferred Bank’s payout ratio is currently 30.83%.

Institutional Investors Weigh In On Preferred Bank

Several large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its position in Preferred Bank by 1,224.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 331 shares of the bank’s stock worth $29,000 after buying an additional 306 shares during the last quarter. Quarry LP boosted its holdings in shares of Preferred Bank by 1,992.0% during the 3rd quarter. Quarry LP now owns 523 shares of the bank’s stock valued at $47,000 after acquiring an additional 498 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Preferred Bank in the third quarter worth approximately $70,000. Kemnay Advisory Services Inc. purchased a new position in shares of Preferred Bank during the fourth quarter valued at approximately $91,000. Finally, Clearstead Advisors LLC lifted its position in Preferred Bank by 192.1% during the fourth quarter. Clearstead Advisors LLC now owns 1,072 shares of the bank’s stock valued at $101,000 after purchasing an additional 705 shares during the period. 72.77% of the stock is currently owned by institutional investors.

Preferred Bank Company Profile

Preferred Bank (NASDAQ: PFBC) is a California-chartered commercial bank headquartered in Los Angeles. The institution offers a full range of banking products and services to businesses and individuals, with a particular emphasis on commercial real estate lending, business banking, treasury management and deposit accounts. Preferred Bank operates through branch offices across Southern California and national loan production offices in major U.S. markets.

The bank’s core lending portfolio focuses on commercial real estate acquisition, development and investment properties.