Preferred Bank price target lowered to $111 from $121 at Piper Sandler

Piper Sandler lowered the firm’s price target on Preferred Bank (PFBC) to $111 from $121 and keeps an Overweight rating on the shares. The firm is lowering its 2026 / 2027 EPS estimates to $10.40 / $10.60 from $10.53 / $10.72 based on a lower net interest income / net interest margin outlook.