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

Preferred Bank (NASDAQ:PFBC) had its price objective boosted by equities research analysts at DA Davidson from $98.00 to $101.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. DA Davidson’s price target would indicate a potential upside of 11.07% from the company’s current price.

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

Preferred Bank Price Performance

Shares of PFBC stock traded up $3.26 during trading hours on Wednesday, hitting $90.93. The stock had a trading volume of 108,809 shares, compared to its average volume of 80,001. The stock’s 50-day moving average price is $89.27 and its two-hundred day moving average price is $85.02. Preferred Bank has a one year low of $66.88 and a one year high of $99.78. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 9.11 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 1.08.

Preferred Bank (NASDAQ:PFBC) last released 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 net margin of 26.20% and a return on equity of 19.01%. Equities analysts forecast that Preferred Bank will post 9.79 EPS for the current year.

Institutional Trading of Preferred Bank

Several institutional investors and hedge funds have recently modified their holdings of PFBC. State Street Corp raised its position in Preferred Bank by 0.4% during the 3rd quarter. State Street Corp now owns 592,566 shares of the bank’s stock valued at $47,553,000 after purchasing an additional 2,339 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Preferred Bank by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 415,722 shares of the bank’s stock valued at $33,362,000 after acquiring an additional 7,086 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Preferred Bank by 3.6% in the third quarter. Geode Capital Management LLC now owns 352,597 shares of the bank’s stock valued at $28,300,000 after acquiring an additional 12,283 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Preferred Bank by 24.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 186,107 shares of the bank’s stock worth $14,935,000 after acquiring an additional 35,979 shares in the last quarter. Finally, Dana Investment Advisors Inc. increased its holdings in Preferred Bank by 7.4% during the second quarter. Dana Investment Advisors Inc. now owns 98,591 shares of the bank’s stock valued at $7,443,000 after buying an additional 6,809 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.