Zacks: Brokerages Anticipate Preferred Bank (PFBC) Will Post Earnings of $1.24 Per Share

Equities analysts expect Preferred Bank (NASDAQ:PFBC) to announce $1.24 earnings per share for the current quarter, according to Zacks. Four analysts have made estimates for Preferred Bank’s earnings, with the highest EPS estimate coming in at $1.28 and the lowest estimate coming in at $1.16. Preferred Bank reported earnings per share of $1.09 in the same quarter last year, which indicates a positive year over year growth rate of 13.8%. The business is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, April 17th.

According to Zacks, analysts expect that Preferred Bank will report full-year earnings of $5.17 per share for the current financial year, with EPS estimates ranging from $5.06 to $5.26. For the next fiscal year, analysts expect that the company will report earnings of $5.54 per share, with EPS estimates ranging from $5.09 to $5.75. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Preferred Bank.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings results on Thursday, January 17th. The bank reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.11). The company had revenue of $45.85 million during the quarter, compared to analysts’ expectations of $42.11 million. Preferred Bank had a return on equity of 17.69% and a net margin of 34.70%.

Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Preferred Bank from a “hold” rating to a “sell” rating in a research report on Tuesday. FIG Partners reaffirmed an “outperform” rating on shares of Preferred Bank in a research report on Friday, April 12th. BidaskClub raised Preferred Bank from a “strong sell” rating to a “sell” rating in a research report on Wednesday, March 27th. Finally, Stephens reaffirmed a “hold” rating and issued a $51.00 price target on shares of Preferred Bank in a research report on Tuesday, January 22nd. Three analysts have rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $61.50.

PFBC opened at $47.88 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $697.42 million, a PE ratio of 10.52, a P/E/G ratio of 0.90 and a beta of 1.15. Preferred Bank has a 1 year low of $39.87 and a 1 year high of $69.48.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be paid a dividend of $0.30 per share. This is an increase from Preferred Bank’s previous quarterly dividend of $0.12. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Friday, April 5th. Preferred Bank’s payout ratio is currently 26.37%.

Several large investors have recently made changes to their positions in PFBC. Capital Impact Advisors LLC boosted its position in shares of Preferred Bank by 13.1% in the 4th quarter. Capital Impact Advisors LLC now owns 33,915 shares of the bank’s stock valued at $1,473,000 after purchasing an additional 3,917 shares during the period. Oregon Public Employees Retirement Fund bought a new stake in shares of Preferred Bank during the 4th quarter worth about $230,000. Martingale Asset Management L P boosted its holdings in shares of Preferred Bank by 246.9% during the 3rd quarter. Martingale Asset Management L P now owns 25,712 shares of the bank’s stock worth $1,505,000 after buying an additional 18,301 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of Preferred Bank by 18.6% during the 4th quarter. New York State Common Retirement Fund now owns 34,202 shares of the bank’s stock worth $1,483,000 after buying an additional 5,364 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Preferred Bank by 11.0% during the 3rd quarter. Wells Fargo & Company MN now owns 48,364 shares of the bank’s stock worth $2,830,000 after buying an additional 4,778 shares during the period. Institutional investors own 90.63% of the company’s stock.

About Preferred Bank

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, 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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