Preferred Bank price target raised to $111 from $101 at Piper Sandler

Piper Sandler raised the firm’s price target on Preferred Bank (PFBC) to $111 from $101 and keeps an Overweight rating on the shares. The firm also increased its 2025/2026 EPS to $9.33/$9.25 from $8.67/$8.41 based on a more resilient net interest margin and lower credit costs partially offset by higher non-interest expense.