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Investing.com - DA Davidson has lowered its price target on Preferred Bank (NASDAQ:PFBC) to $104.00 from $108.00 while maintaining a Neutral rating on the stock. The $1.14 billion market cap bank currently trades at 9.6x earnings, with analyst targets ranging from $100 to $112. According to InvestingPro data, 5 analysts have recently revised their earnings estimates upward for the upcoming period.
The firm raised its earnings estimates for 2025 and 2026 from $9.86/$9.74 to $10.32/$10.37 per share, reflecting higher net interest income and fee income projections, along with a lower anticipated share count.
DA Davidson noted that the estimate adjustments include a $0.05 correction for the second quarter of 2025, with the corrected figure flowing through their financial model.
The new $104 price target represents 10 times the firm’s 2026 estimated earnings per share and 1.45 times the estimated tangible book value for 2026.
Despite the price target reduction, the firm maintained its Neutral rating on Preferred Bank stock.
In other recent news, Preferred Bank reported strong financial results for the third quarter of 2025, exceeding analyst expectations. The bank achieved earnings per share of $2.84, surpassing the forecasted $2.57, marking a 10.51% surprise. Additionally, Preferred Bank reported revenue of $74.98 million, which was higher than the anticipated $72.74 million. These results highlight the bank’s robust financial performance during this period. The earnings announcement is likely to be of interest to investors, given the bank’s ability to exceed both earnings and revenue forecasts. No other major developments such as mergers or changes in analyst ratings were reported in the recent news.
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