Preferred Bank (PFBC) was Initiated by FBR Capital to “Outperform” and the brokerage firm has set the Price Target at $37. FBR Capital advised their investors in a research report released on Jul 1, 2016.
Preferred Bank opened for trading at $28.21 and hit $28.82 on the upside on Wednesday, eventually ending the session at $28.74, with a gain of 3.31% or 0.92 points. The heightened volatility saw the trading volume jump to 32,657 shares. Company has a market cap of $396 M.
PREFERRED BANK is a commercial bank based in Southern California. The Bank provides personalized 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 high net worth individuals. It derives its income primarily from interest received on its loan and investment securities portfolio and fee income. The Bank conducts operations from its office in downtown Los Angeles California and ten full service branch banking offices in Los Angeles Orange and San Francisco Counties. It markets its services and conducts its business primarily in Los Angeles Orange Ventura Riverside San Bernardino and San Francisco Counties.