Preferred Bank (PFBC)’s Stock Is Sell After Forming Ascending Triangle Pattern

April 17, 2018 - By Richard Conner

Preferred Bank (NASDAQ:PFBC) Logo

The stock of Preferred Bank (PFBC) formed an ascending triangle with $60.47 target or 8.00 % below today’s $65.73 share price. The 9 months triangle pattern indicates high risk for the $1.01 billion company. If the $60.47 price target is reached, the company will be worth $80.56 million less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock increased 1.83% or $1.18 during the last trading session, reaching $65.73. About 62,515 shares traded. Preferred Bank (NASDAQ:PFBC) has risen 24.68% since April 17, 2017 and is uptrending. It has outperformed by 13.13% the S&P500.

Analysts await Preferred Bank (NASDAQ:PFBC) to report earnings on April, 18. They expect $1.06 earnings per share, up 49.30 % or $0.35 from last year’s $0.71 per share. PFBC’s profit will be $16.24 million for 15.50 P/E if the $1.06 EPS becomes a reality. After $0.98 actual earnings per share reported by Preferred Bank for the previous quarter, Wall Street now forecasts 8.16 % EPS growth.

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 6 analyst reports since October 26, 2017 according to SRatingsIntel. As per Thursday, March 29, the company rating was maintained by Sandler O’Neill. Sandler O’Neill maintained Preferred Bank (NASDAQ:PFBC) on Thursday, January 4 with “Buy” rating. The rating was maintained by FBR Capital with “Buy” on Wednesday, January 24. On Tuesday, January 9 the stock rating was upgraded by Raymond James to “Buy”. As per Tuesday, January 23, the company rating was maintained by Sandler O’Neill. The stock of Preferred Bank (NASDAQ:PFBC) earned “Buy” rating by FBR Capital on Thursday, October 26.

Preferred Bank (NASDAQ:PFBC) Ratings Chart

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