Preferred Bank (NASDAQ:PFBC) – Research analysts at FBR & Co dropped their Q3 2017 earnings per share (EPS) estimates for Preferred Bank in a report issued on Tuesday. FBR & Co analyst S. Moss now anticipates that the bank will post earnings of $0.86 per share for the quarter, down from their prior forecast of $0.87. FBR & Co has a “Buy” rating on the stock.
Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings results on Tuesday, July 18th. The bank reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.05. Preferred Bank had a return on equity of 14.05% and a net margin of 28.91%. The business had revenue of $32.55 million during the quarter, compared to the consensus estimate of $31.78 million.
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A number of other analysts have also recently commented on the company. Zacks Investment Research cut Preferred Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. BidaskClub cut Preferred Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Stephens upgraded Preferred Bank from an “equal weight” rating to an “overweight” rating in a research report on Monday, July 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Preferred Bank has an average rating of “Hold” and an average target price of $65.00.
Preferred Bank (PFBC) opened at 59.46 on Thursday. The company has a market capitalization of $854.38 million, a P/E ratio of 20.42 and a beta of 0.94. The firm has a 50-day moving average price of $55.57 and a 200 day moving average price of $53.68. Preferred Bank has a 1-year low of $34.34 and a 1-year high of $60.99.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, October 6th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Thursday, October 5th. Preferred Bank’s dividend payout ratio (DPR) is presently 27.49%.
Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Preferred Bank by 6.3% in the second quarter. Vanguard Group Inc. now owns 554,921 shares of the bank’s stock worth $29,672,000 after acquiring an additional 32,867 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Preferred Bank by 52.5% in the first quarter. Nuveen Asset Management LLC now owns 530,245 shares of the bank’s stock worth $28,453,000 after acquiring an additional 182,564 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Preferred Bank by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 485,055 shares of the bank’s stock worth $25,936,000 after acquiring an additional 10,311 shares during the last quarter. State Street Corp boosted its stake in shares of Preferred Bank by 61.7% in the second quarter. State Street Corp now owns 388,696 shares of the bank’s stock worth $20,782,000 after acquiring an additional 148,363 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Preferred Bank by 7.5% in the second quarter. Renaissance Technologies LLC now owns 373,057 shares of the bank’s stock worth $19,947,000 after acquiring an additional 26,002 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.
About Preferred Bank
Preferred Bank is a commercial bank. The Bank provides deposit services, as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals and high net worth individuals. The Bank offers various services, such as personal banking, business banking and treasury management.
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