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D.A. Davidson & Co. Updates Model For Preferred Bank Following 2Q Results

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In a report published Monday, D.A. Davidson & Co. analyst Gary P. Tenner reiterated a Buy rating and $27.00 price target on Preferred Bank (NASDAQ: PFBC).

In the report, D.A. Davidson & Co. noted, “In the company's 10-Q filed this morning PFBC reduced its net OREO expense from a gain of $715,000 to a gain of $1.15 million. The net positive change of $435,000 resulted from a post-quarter offer on the company's last remaining OREO that exceeded the value at which PFBC was carrying the property. Management decided to make the adjustment to 2Q results rather than record the incremental gain in the third quarter. The increased OREO gain added $0.02 to EPS for the quarter.”

Preferred Bank closed on Friday at $23.09.

Latest Ratings for PFBC

DateFirmActionFromTo
Jun 2019DowngradesBuyNeutral
Jun 2019DowngradesBuyNeutral
Apr 2019MaintainsStrong BuyStrong Buy

View More Analyst Ratings for PFBC
View the Latest Analyst Ratings

Posted-In: D.A. Davidson & Co. Gary P. TennerAnalyst Color Reiteration Analyst Ratings

 

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