Preferred Bank price target raised to $112 from $96 at Piper Sandler

Piper Sandler raised the firm’s price target on Preferred Bank (PFBC) to $112 from $96 and keeps an Overweight rating on the shares. The firm is also increasing its 2025/2026 EPS estimates to $9.85/$9.70 from $9.29/$9.16 based on a higher net interest margin and larger balance sheet.