Preferred Bank (NASDAQ:PFBC) Stock Price Expected to Rise, DA Davidson Analyst Says

Preferred Bank (NASDAQ:PFBC) had its price target raised by equities research analysts at DA Davidson from $98.00 to $101.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. DA Davidson’s target price indicates a potential upside of 11.75% from the stock’s previous close.

Separately, Stephens cut shares of Preferred Bank from an “overweight” rating to an “equal weight” rating in a report on Monday, December 9th.

Preferred Bank Price Performance

Shares of PFBC opened at $90.38 on Wednesday. The stock has a market cap of $1.30 billion, a PE ratio of 9.06 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.08 and a current ratio of 1.08. Preferred Bank has a fifty-two week low of $66.88 and a fifty-two week high of $99.78. The firm’s 50-day simple moving average is $89.23 and its two-hundred day simple moving average is $85.06.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings data on Monday, January 27th. The bank reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.17). Preferred Bank had a return on equity of 19.01% and a net margin of 26.20%. Analysts anticipate that Preferred Bank will post 9.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Preferred Bank

A number of institutional investors have recently made changes to their positions in PFBC. Copeland Capital Management LLC purchased a new stake in shares of Preferred Bank during the third quarter valued at approximately $54,000. Point72 DIFC Ltd grew its holdings in shares of Preferred Bank by 69.9% during the second quarter. Point72 DIFC Ltd now owns 848 shares of the bank’s stock valued at $64,000 after buying an additional 349 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Preferred Bank during the fourth quarter valued at approximately $65,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Preferred Bank during the third quarter valued at approximately $76,000. Finally, KBC Group NV boosted its holdings in Preferred Bank by 46.2% in the fourth quarter. KBC Group NV now owns 914 shares of the bank’s stock worth $79,000 after purchasing an additional 289 shares during the last quarter. Hedge funds and other institutional investors own 72.77% 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. The company accepts checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.