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

Preferred Bank (NASDAQ:PFBC) had its target price hoisted by DA Davidson from $98.00 to $101.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the bank’s stock. DA Davidson also issued estimates for Preferred Bank’s Q1 2025 earnings at $2.28 EPS.

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

Preferred Bank Stock Performance

PFBC opened at $91.36 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. Preferred Bank has a 12-month low of $66.88 and a 12-month high of $99.78. The firm has a 50 day moving average of $89.08 and a two-hundred day moving average of $85.19. The firm has a market capitalization of $1.32 billion, a PE ratio of 9.49 and a beta of 0.97.

Preferred Bank (NASDAQ:PFBC) last issued its earnings results on Monday, January 27th. The bank reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.17). Preferred Bank had a return on equity of 17.80% and a net margin of 25.00%. On average, analysts anticipate that Preferred Bank will post 9.29 EPS for the current year.

Preferred Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 23rd. Shareholders of record on Thursday, January 9th were given a dividend of $0.75 per share. The ex-dividend date was Friday, January 10th. This represents a $3.00 dividend on an annualized basis and a yield of 3.28%. This is an increase from Preferred Bank’s previous quarterly dividend of $0.70. Preferred Bank’s dividend payout ratio is currently 31.15%.

Institutional Investors Weigh In On Preferred Bank

Several institutional investors and hedge funds have recently added to or reduced their stakes in PFBC. JPMorgan Chase & Co. increased its stake in shares of Preferred Bank by 24.0% during the third quarter. JPMorgan Chase & Co. now owns 186,107 shares of the bank’s stock worth $14,935,000 after purchasing an additional 35,979 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Preferred Bank by 24.7% during the second quarter. AQR Capital Management LLC now owns 77,745 shares of the bank’s stock valued at $5,869,000 after acquiring an additional 15,391 shares during the last quarter. De Lisle Partners LLP lifted its position in shares of Preferred Bank by 51.8% in the third quarter. De Lisle Partners LLP now owns 41,034 shares of the bank’s stock valued at $3,290,000 after acquiring an additional 14,000 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 worth $28,300,000 after acquiring an additional 12,283 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its stake in shares of Preferred Bank by 62.5% in the third quarter. GSA Capital Partners LLP now owns 31,726 shares of the bank’s stock worth $2,546,000 after acquiring an additional 12,197 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.