It Seems Preferred Bank (NASDAQ:PFBC) Will Go Down. Just Reported More Shorted Shares

October 13, 2017 - By Adrian Erickson

 It Seems Preferred Bank (NASDAQ:PFBC) Will Go Down. Just Reported More Shorted Shares

The stock of Preferred Bank (NASDAQ:PFBC) registered an increase of 21.11% in short interest. PFBC’s total short interest was 527,800 shares in October as published by FINRA. Its up 21.11% from 435,800 shares, reported previously. With 52,200 shares average volume, it will take short sellers 10 days to cover their PFBC’s short positions. The short interest to Preferred Bank’s float is 4.2%.

The stock decreased 1.41% or $0.84 during the last trading session, reaching $58.62. About 41,053 shares traded. Preferred Bank (NASDAQ:PFBC) has risen 58.29% since October 13, 2016 and is uptrending. It has outperformed by 41.59% the S&P500.

Preferred Bank is a commercial bank

Preferred Bank (NASDAQ:PFBC) Ratings Coverage

Among 3 analysts covering Preferred Bank (NASDAQ:PFBC), 3 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Preferred Bank had 10 analyst reports since August 25, 2015 according to SRatingsIntel. On Tuesday, August 25 the stock rating was upgraded by Raymond James to “Outperform”. The rating was maintained by Stephens on Monday, July 10 with “Buy”. The firm earned “Outperform” rating on Monday, October 5 by Raymond James. The firm earned “Outperform” rating on Friday, July 1 by FBR Capital. The stock of Preferred Bank (NASDAQ:PFBC) earned “Buy” rating by Stephens on Thursday, July 20. The rating was maintained by FBR Capital with “Outperform” on Friday, July 22. The stock of Preferred Bank (NASDAQ:PFBC) earned “Outperform” rating by FBR Capital on Monday, January 23. The stock of Preferred Bank (NASDAQ:PFBC) has “Hold” rating given on Monday, June 26 by Stephens. On Wednesday, July 19 the stock rating was maintained by FBR Capital with “Buy”.

More recent Preferred Bank (NASDAQ:PFBC) news were published by: Seekingalpha.com which released: “Preferred Bank: A Small-Cap Bank Worth A Look” on September 29, 2017. Also Globenewswire.com published the news titled: “Preferred Bank Commences Up to $50 Million at the Market Offering” on October 03, 2017. Globenewswire.com‘s news article titled: “Preferred Bank Announces 2017 Third Quarter Earnings Release and Conference Call” with publication date: October 04, 2017 was also an interesting one.

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