Preferred Bank (NASDAQ:PFBC) Price Target Raised to $101.00

Preferred Bank (NASDAQ:PFBC - Get Free Report) had its price target boosted by stock analysts at DA Davidson from $98.00 to $101.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the bank's stock. DA Davidson's price objective points to a potential upside of 11.07% from the company's previous close.

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

Preferred Bank Stock Up 3.7 %

Shares of PFBC stock traded up $3.26 during trading hours on Wednesday, hitting $90.93. 108,809 shares of the company's stock traded hands, compared to its average volume of 80,001. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.20. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 9.11 and a beta of 0.97. The stock's fifty day simple moving average is $89.27 and its two-hundred day simple moving average is $85.02. Preferred Bank has a 12-month low of $66.88 and a 12-month high of $99.78.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The bank reported $2.25 earnings per share (EPS) 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%. On average, analysts expect that Preferred Bank will post 9.79 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PFBC. Meritage Portfolio Management increased its holdings in Preferred Bank by 223.1% during the fourth quarter. Meritage Portfolio Management now owns 14,729 shares of the bank's stock valued at $1,272,000 after buying an additional 10,171 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Preferred Bank by 19.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,976 shares of the bank's stock valued at $778,000 after purchasing an additional 1,463 shares in the last quarter. SkyOak Wealth LLC bought a new stake in Preferred Bank during the fourth quarter valued at about $281,000. R Squared Ltd bought a new position in shares of Preferred Bank in the fourth quarter worth about $65,000. Finally, KBC Group NV grew its stake in shares of Preferred Bank by 46.2% during the 4th quarter. KBC Group NV now owns 914 shares of the bank's stock valued at $79,000 after acquiring an additional 289 shares during the period. Institutional investors own 72.77% of the company's stock.

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. 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.

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