Stephens Reaffirms Equal Weight Rating for Preferred Bank (NASDAQ:PFBC)

Preferred Bank (NASDAQ:PFBC)‘s stock had its “equal weight” rating restated by investment analysts at Stephens in a note issued to investors on Thursday,Benzinga reports. They currently have a $100.00 price objective on the bank’s stock. Stephens’ target price would suggest a potential upside of 7.07% from the company’s current price.

Separately, DA Davidson boosted their price target on shares of Preferred Bank from $98.00 to $101.00 and gave the stock a “neutral” rating in a research note on Wednesday.

Preferred Bank Trading Up 2.7 %

NASDAQ:PFBC traded up $2.47 during trading hours on Thursday, hitting $93.40. 10,848 shares of the stock were exchanged, compared to its average volume of 77,323. The company’s 50 day moving average is $89.27 and its two-hundred day moving average is $85.02. The company has a market capitalization of $1.35 billion, a P/E ratio of 9.36 and a beta of 0.97. Preferred Bank has a twelve month low of $66.88 and a twelve month high of $99.78. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.20.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings data on Monday, January 27th. The bank reported $2.25 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, sell-side analysts anticipate that Preferred Bank will post 9.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Preferred Bank

Institutional investors have recently modified their holdings of the stock. Sei Investments Co. raised its position in shares of Preferred Bank by 6.7% in the 2nd quarter. Sei Investments Co. now owns 5,137 shares of the bank’s stock valued at $388,000 after acquiring an additional 323 shares during the period. Squarepoint Ops LLC increased its stake in Preferred Bank by 27.3% in the second quarter. Squarepoint Ops LLC now owns 9,449 shares of the bank’s stock valued at $713,000 after purchasing an additional 2,024 shares in the last quarter. AQR Capital Management LLC raised its holdings in Preferred Bank by 24.7% in the second quarter. AQR Capital Management LLC now owns 77,745 shares of the bank’s stock worth $5,869,000 after purchasing an additional 15,391 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Preferred Bank by 35.1% during the second quarter. Point72 Asset Management L.P. now owns 1,486 shares of the bank’s stock worth $112,000 after purchasing an additional 386 shares in the last quarter. Finally, Point72 DIFC Ltd grew its holdings in shares of Preferred Bank by 69.9% in the 2nd 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 period. 72.77% of the stock is currently owned by institutional investors and hedge funds.

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.