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Fly News Breaks for January 22, 2019
PFBC
Jan 22, 2019 | 08:37 EDT
DA Davidson analyst Gary Tenner lowered his price target on Preferred Bank to $63 after its Q4 earnings miss, saying that while the company continued to generate strong loan growth and profitability on positive net interest margin direction, its earnings were impacted by the "higher provision related to the charge-off of NYC properties". The analyst is keeping his Buy rating given the bank's strong overall asset quality, but lowered his FY19 EPS outlook to $5.26 from $5.34.
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