The stock of Preferred Bank (NASDAQ:PFBC) hit a new 52-week high and has $63.89 target or 49.00% above today’s $42.88 share price. The 7 months bullish chart indicates low risk for the $638.46 million company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $63.89 price target is reached, the company will be worth $312.85M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 205,752 shares traded hands or 268.89% up from the average. Preferred Bank (NASDAQ:PFBC) has risen 40.01% since April 11, 2016 and is uptrending. It has outperformed by 33.87% the S&P500.
Preferred Bank (NASDAQ:PFBC) Ratings Coverage
Out of 2 analysts covering Preferred Bank (NASDAQ:PFBC), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Preferred Bank has been the topic of 4 analyst reports since August 25, 2015 according to StockzIntelligence Inc. The firm earned “Outperform” rating on Monday, October 5 by Raymond James. FBR Capital initiated the stock with “Outperform” rating in Friday, July 1 report. The rating was maintained by FBR Capital with “Outperform” on Friday, July 22. On Tuesday, August 25 the stock rating was upgraded by Raymond James to “Outperform”.
According to Zacks Investment Research, “Preferred Bank is one of the largest independent commercial banks in California focusing on the Chinese-American market. The bank is chartered by the State of California, and its deposits are insured by the Federal Deposit Insurance Corporation, or FDIC, to the maximum extent permitted by law. The Company conducts its banking business from its main office in Los Angeles, California, and through ten full-service branch banking offices in Alhambra, Century City, Chino Hills, City of Industry, Torrance, Arcadia, Irvine, Diamond Bar, Santa Monica and Valencia, California. Preferred Bank offers a broad range of deposit and loan products and services to both commercial and consumer customers. The bank provides personalized deposit services as well as real estate finance, commercial loans and trade finance to small and mid- sized businesses, entrepreneurs, real estate developers, professionals and high net worth individuals. Preferred Bank continues to benefit from the significant migration to Southern California of”
More news for Preferred Bank (NASDAQ:PFBC) were recently published by: Seekingalpha.com, which released: “Preferred Bank’s (PFBC) CEO Li Yu on Q3 2016 Results – Earnings Call Transcript” on October 21, 2016. Globenewswire.com‘s article titled: “Preferred Bank Reports Record Quarterly Earnings” and published on October 19, 2016 is yet another important article.
PFBC Company Profile
Preferred Bank, incorporated on September 9, 1991, is a commercial bank, which offers financial services to individuals and companies in Southern California. Through its branch network, the Bank provides a range of financial services that include demand, time and savings deposits, and real estate, and business and consumer lending. The Bank provides deposits, and loan services and products to clients primarily within various categories, including real estate finance consisting of investors and developers within the real estate industry and of owner-occupied properties in Southern California; middle market business consisting of manufacturing, service and distribution companies; international trade finance consisting of importers and exporters based in the United States requiring both borrowing and operational products; high-wealth banking consisting of wealthy individuals residing in the Pacific Rim area with residences, real estate investments or businesses in Southern California, and professionals consisting of physicians, accountants, attorneys, business managers and other professionals.
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