Preferred Bank price target raised to $101 from $98 at DA Davidson

DA Davidson raised the firm’s price target on Preferred Bank (PFBC) to $101 from $98 and keeps a Neutral rating on the shares. The company reported a solid quarter with higher than projected net interest income and net interest margin levels, supporting a higher EPS outlook going forward, although modest additional net interest margin pressure likely impacts the first quarter, the analyst tells investors in a research note.