Wall Street analysts expect Preferred Bank (NASDAQ:PFBC) to report earnings per share (EPS) of $1.24 for the current quarter, Zacks reports. Four analysts have issued estimates for Preferred Bank’s earnings. The lowest EPS estimate is $1.20 and the highest is $1.27. Preferred Bank posted earnings per share of $0.97 during the same quarter last year, which indicates a positive year-over-year growth rate of 27.8%. The business is scheduled to issue its next earnings results after the market closes on Thursday, January 17th.
According to Zacks, analysts expect that Preferred Bank will report full-year earnings of $4.66 per share for the current fiscal year, with EPS estimates ranging from $4.62 to $4.71. For the next financial year, analysts forecast that the company will post earnings of $5.14 per share, with EPS estimates ranging from $4.86 to $5.34. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Preferred Bank.
Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings results on Wednesday, October 17th. The bank reported $1.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.02. The firm had revenue of $40.91 million for the quarter, compared to analyst estimates of $41.19 million. Preferred Bank had a net margin of 31.74% and a return on equity of 18.39%.
A number of analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Preferred Bank from a “hold” rating to a “sell” rating in a research note on Thursday, December 20th. B. Riley set a $76.00 price objective on shares of Preferred Bank and gave the company a “buy” rating in a research note on Tuesday, October 30th. Raymond James upgraded shares of Preferred Bank from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, October 4th. ValuEngine lowered shares of Preferred Bank from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 27th. Finally, BidaskClub downgraded shares of Preferred Bank from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $72.00.
Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc grew its position in shares of Preferred Bank by 31.6% during the third quarter. Vanguard Group Inc now owns 879,043 shares of the bank’s stock worth $51,424,000 after buying an additional 210,979 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Preferred Bank during the third quarter worth approximately $4,637,000. Vanguard Group Inc. grew its position in shares of Preferred Bank by 31.6% during the third quarter. Vanguard Group Inc. now owns 879,043 shares of the bank’s stock worth $51,424,000 after buying an additional 210,979 shares in the last quarter. Morgan Stanley grew its position in shares of Preferred Bank by 14.4% during the third quarter. Morgan Stanley now owns 36,331 shares of the bank’s stock worth $2,126,000 after buying an additional 4,569 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Preferred Bank by 1,196.2% during the third quarter. Legal & General Group Plc now owns 29,723 shares of the bank’s stock worth $1,743,000 after buying an additional 27,430 shares in the last quarter. 93.37% of the stock is owned by institutional investors and hedge funds.
PFBC opened at $44.85 on Friday. The company has a market cap of $592.80 million, a PE ratio of 13.11, a PEG ratio of 0.88 and a beta of 1.14. Preferred Bank has a 52-week low of $39.87 and a 52-week high of $69.48.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 22nd. Stockholders of record on Tuesday, January 8th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, January 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.68%. This is an increase from Preferred Bank’s previous quarterly dividend of $0.25. Preferred Bank’s dividend payout ratio (DPR) is presently 35.09%.
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, 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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