Preferred Bank price target lowered to $96 from $108 at Piper Sandler

Piper Sandler lowered the firm’s price target on Preferred Bank (PFBC) to $96 from $108 and keeps an Overweight rating on the shares. The firm is increasing its 2025/2026 EPS to $9.29/$9.16 from $9.26/$9.00 based on a lower share count and higher fees partially offset by a lower net interest margin, smaller balance sheet and higher non-interest expense.