Preferred Bank (NASDAQ:PFBC) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Preferred Bank (NASDAQ:PFBC) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $86.02 and traded as high as $89.27. Preferred Bank shares last traded at $87.66, with a volume of 82,437 shares.

Analysts Set New Price Targets

Several brokerages recently commented on PFBC. DA Davidson upped their target price on Preferred Bank from $98.00 to $101.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Stephens restated an “equal weight” rating and issued a $100.00 price target on shares of Preferred Bank in a research report on Thursday, January 30th. Finally, Piper Sandler increased their price objective on shares of Preferred Bank from $101.00 to $111.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st.

Preferred Bank Price Performance

The business has a 50 day moving average price of $87.83 and a 200-day moving average price of $86.02. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 9.10 and a beta of 0.97. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.08.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly 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 net margin of 25.00% and a return on equity of 17.80%. Research analysts predict that Preferred Bank will post 9.81 EPS for the current fiscal year.

Preferred Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 23rd. Shareholders of record on Thursday, January 9th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.42%. This is a boost from Preferred Bank’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, January 10th. Preferred Bank’s dividend payout ratio (DPR) is presently 31.15%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Picton Mahoney Asset Management lifted its holdings in shares of Preferred Bank by 110.7% in the 4th quarter. Picton Mahoney Asset Management now owns 550 shares of the bank’s stock worth $47,000 after purchasing an additional 289 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Preferred Bank by 217.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 562 shares of the bank’s stock valued at $49,000 after buying an additional 385 shares in the last quarter. R Squared Ltd acquired a new position in shares of Preferred Bank during the fourth quarter valued at about $65,000. KBC Group NV increased its position in shares of Preferred Bank by 46.2% during the fourth quarter. KBC Group NV now owns 914 shares of the bank’s stock worth $79,000 after acquiring an additional 289 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Preferred Bank in the 3rd quarter worth about $76,000. 72.77% of the stock is 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.