Shares of Preferred Bank (NASDAQ:PFBC) rose 7.5% on Monday . The stock traded as high as $66.26 and last traded at $66.10. Approximately 699,100 shares were traded during trading, an increase of 669% from the average daily volume of 90,852 shares. The stock had previously closed at $61.46.
Separately, BidaskClub upgraded shares of Preferred Bank from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $72.60.
Get Preferred Bank alerts:The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $871.73 million, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 1.43 and a beta of 1.00.
Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings results on Thursday, April 19th. The bank reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. Preferred Bank had a return on equity of 16.74% and a net margin of 28.88%. The business had revenue of $37.71 million during the quarter, compared to analysts’ expectations of $37.29 million. equities analysts predict that Preferred Bank will post 4.64 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 20th. Investors of record on Friday, July 6th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, July 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.47%. This is a boost from Preferred Bank’s previous quarterly dividend of $0.22. Preferred Bank’s dividend payout ratio (DPR) is presently 25.73%.
A number of institutional investors have recently bought and sold shares of PFBC. Mount Yale Investment Advisors LLC bought a new position in Preferred Bank during the first quarter worth about $129,000. UBS Group AG grew its holdings in Preferred Bank by 653.1% during the first quarter. UBS Group AG now owns 2,651 shares of the bank’s stock worth $170,000 after purchasing an additional 2,299 shares during the period. Stevens Capital Management LP bought a new position in Preferred Bank during the first quarter worth about $220,000. Teacher Retirement System of Texas bought a new position in Preferred Bank during the fourth quarter worth about $265,000. Finally, Hsbc Holdings PLC bought a new position in Preferred Bank during the first quarter worth about $267,000. Institutional investors and hedge funds own 86.96% 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 in the United States. The company's deposit products include checking, savings, negotiable order of withdrawal, 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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