Preferred Bank (PFBC) Expected to Post Earnings of $1.24 Per Share

Analysts expect Preferred Bank (NASDAQ:PFBC) to post $1.24 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Preferred Bank’s earnings. The highest EPS estimate is $1.27 and the lowest is $1.20. Preferred Bank reported earnings of $0.97 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 27.8%. The company is expected to announce its next quarterly earnings results after the market closes on Thursday, January 17th.

On average, analysts expect that Preferred Bank will report full-year earnings of $4.66 per share for the current year, with EPS estimates ranging from $4.62 to $4.71. For the next fiscal year, analysts anticipate that the business will post earnings of $5.14 per share, with EPS estimates ranging from $4.86 to $5.34. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow Preferred Bank.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings data on Wednesday, October 17th. The bank reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.02. Preferred Bank had a net margin of 31.74% and a return on equity of 18.39%. The company had revenue of $40.91 million during the quarter, compared to analysts’ expectations of $41.19 million.

Several analysts recently issued reports on PFBC shares. BidaskClub cut shares of Preferred Bank from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 4th. Zacks Investment Research upgraded shares of Preferred Bank from a “sell” rating to a “hold” rating in a research report on Thursday. B. Riley set a $76.00 price target on shares of Preferred Bank and gave the stock a “buy” rating in a research report on Tuesday, October 30th. Finally, Raymond James lowered their price target on shares of Preferred Bank from $77.00 to $72.00 and set a “strong-buy” rating for the company in a research report on Friday, October 19th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $72.00.

Shares of NASDAQ PFBC opened at $44.85 on Friday. Preferred Bank has a 12-month low of $39.87 and a 12-month high of $69.48. The stock has a market cap of $592.80 million, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 0.88 and a beta of 1.14.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 22nd. Investors of record on Tuesday, January 8th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Monday, January 7th. This is a positive change from Preferred Bank’s previous quarterly dividend of $0.25. Preferred Bank’s dividend payout ratio is currently 35.09%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc grew its position in Preferred Bank by 31.6% in the 3rd quarter. Vanguard Group Inc now owns 879,043 shares of the bank’s stock valued at $51,424,000 after buying an additional 210,979 shares in the last quarter. Marshall Wace LLP bought a new position in Preferred Bank in the 3rd quarter valued at about $4,637,000. Vanguard Group Inc. grew its position in Preferred Bank by 31.6% in the 3rd quarter. Vanguard Group Inc. now owns 879,043 shares of the bank’s stock valued at $51,424,000 after buying an additional 210,979 shares in the last quarter. Morgan Stanley grew its position in Preferred Bank by 14.4% in the 3rd quarter. Morgan Stanley now owns 36,331 shares of the bank’s stock valued at $2,126,000 after buying an additional 4,569 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Preferred Bank by 1,196.2% in the 3rd quarter. Legal & General Group Plc now owns 29,723 shares of the bank’s stock valued at $1,743,000 after buying an additional 27,430 shares in the last quarter. Hedge funds and other institutional investors own 93.37% of the company’s stock.

Preferred Bank Company Profile

Preferred Bank provides various commercial banking products and services to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals, and high net worth individuals in the United States. The company's deposit products include checking, savings, negotiable order of withdrawal, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.

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Earnings History and Estimates for Preferred Bank (NASDAQ:PFBC)

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