Preferred Bank (NASDAQ:PFBC) Stock Rating Lowered by Stephens

Preferred Bank (NASDAQ:PFBC) was downgraded by analysts at Stephens from an “overweight” rating to an “equal weight” rating in a report issued on Monday,Briefing.com Automated Import reports.

Preferred Bank Trading Down 0.2 %

Shares of NASDAQ:PFBC traded down $0.21 during mid-day trading on Monday, reaching $93.52. The stock had a trading volume of 4,900 shares, compared to its average volume of 80,449. The firm has a market cap of $1.35 billion, a PE ratio of 9.37 and a beta of 0.96. The firm has a 50 day simple moving average of $87.96 and a two-hundred day simple moving average of $81.66. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.20. Preferred Bank has a twelve month low of $66.63 and a twelve month high of $99.78.

Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Monday, October 21st. The bank reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.07. The business had revenue of $132.88 million during the quarter, compared to analysts’ expectations of $68.80 million. Preferred Bank had a return on equity of 19.01% and a net margin of 26.20%. During the same period in the prior year, the business earned $2.71 EPS. On average, research analysts predict that Preferred Bank will post 9.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of Preferred Bank in the third quarter valued at approximately $294,000. Quest Partners LLC lifted its holdings in shares of Preferred Bank by 1,376.8% during the third quarter. Quest Partners LLC now owns 8,137 shares of the bank’s stock worth $653,000 after purchasing an additional 7,586 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Preferred Bank by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 415,722 shares of the bank’s stock worth $33,362,000 after purchasing an additional 7,086 shares during the last quarter. CWM LLC increased its holdings in Preferred Bank by 140.0% in the third quarter. CWM LLC now owns 2,503 shares of the bank’s stock valued at $201,000 after purchasing an additional 1,460 shares during the period. Finally, GSA Capital Partners LLP raised its position in Preferred Bank by 62.5% during the 3rd quarter. GSA Capital Partners LLP now owns 31,726 shares of the bank’s stock worth $2,546,000 after purchasing an additional 12,197 shares during the last quarter. 72.77% of the stock is currently owned by institutional investors and hedge funds.

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.