Preferred Bank (NASDAQ:PFBC) – Analysts at FBR & Co issued their Q1 2018 EPS estimates for Preferred Bank in a research report issued to clients and investors on Monday. FBR & Co analyst B. Ramsey anticipates that the brokerage will post earnings of $0.86 per share for the quarter. FBR & Co currently has a “Outperform” rating and a $65.00 price objective on the stock. FBR & Co also issued estimates for Preferred Bank’s Q2 2018 earnings at $0.90 EPS, Q3 2018 earnings at $0.93 EPS and Q4 2018 earnings at $0.96 EPS.
Separately, Zacks Investment Research lowered Preferred Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, October 5th.
Shares of Preferred Bank (NASDAQ:PFBC) traded down 0.14% during mid-day trading on Wednesday, reaching $56.41. The company’s stock had a trading volume of 32,704 shares. Preferred Bank has a 52 week low of $26.35 and a 52 week high of $56.55. The company’s 50-day moving average is $51.07 and its 200-day moving average is $39.89. The stock has a market capitalization of $788.84 million, a price-to-earnings ratio of 22.04 and a beta of 1.11.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 20th. Investors of record on Friday, January 6th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.27%. The ex-dividend date was Wednesday, January 4th. This is a positive change from Preferred Bank’s previous quarterly dividend of $0.15. Preferred Bank’s dividend payout ratio is 28.02%.
A number of institutional investors have recently bought and sold shares of the stock. FMR LLC raised its position in Preferred Bank by 47.5% in the second quarter. FMR LLC now owns 340,530 shares of the company’s stock valued at $9,833,000 after buying an additional 109,630 shares during the period. Price T Rowe Associates Inc. MD raised its position in Preferred Bank by 7.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,375,013 shares of the company’s stock valued at $49,157,000 after buying an additional 94,200 shares during the period. Russell Investments Group Ltd. acquired a new position in Preferred Bank during the fourth quarter valued at approximately $4,067,000. BlackRock Institutional Trust Company N.A. raised its position in Preferred Bank by 52.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 209,543 shares of the company’s stock valued at $7,491,000 after buying an additional 71,665 shares during the period. Finally, Horizon Investment Services LLC acquired a new position in Preferred Bank during the third quarter valued at approximately $2,521,000. 66.73% of the stock is currently owned by hedge funds and other institutional investors.
About Preferred Bank
Preferred Bank is a commercial bank, which offers financial services to individuals and companies in Southern California. The Bank provides deposit services, as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals and individuals.