Analysts expect Preferred Bank (NASDAQ:PFBC) to announce $37.03 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Preferred Bank’s earnings. The highest sales estimate is $37.73 million and the lowest is $36.40 million. Preferred Bank posted sales of $30.53 million during the same quarter last year, which suggests a positive year over year growth rate of 21.3%. The company is scheduled to issue its next earnings results on Wednesday, April 18th.
According to Zacks, analysts expect that Preferred Bank will report full-year sales of $37.03 million for the current year, with estimates ranging from $151.80 million to $164.50 million. For the next year, analysts expect that the business will post sales of $180.22 million per share, with estimates ranging from $167.00 million to $192.00 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Preferred Bank.
Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings results on Monday, January 22nd. The bank reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.08. Preferred Bank had a return on equity of 16.69% and a net margin of 26.51%. The company had revenue of $35.78 million during the quarter, compared to analyst estimates of $36.37 million.
A number of research analysts recently commented on the company. Sandler O’Neill restated a “buy” rating and issued a $73.00 target price on shares of Preferred Bank in a research note on Tuesday, January 23rd. B. Riley restated a “buy” rating and issued a $76.00 target price on shares of Preferred Bank in a research note on Wednesday, January 24th. Zacks Investment Research upgraded Preferred Bank from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research note on Saturday, October 28th. BidaskClub upgraded Preferred Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. Finally, ValuEngine lowered Preferred Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $72.60.
Large investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA grew its position in Preferred Bank by 80.4% in the third quarter. BNP Paribas Arbitrage SA now owns 2,415 shares of the bank’s stock valued at $146,000 after acquiring an additional 1,076 shares during the period. Stevens Capital Management LP bought a new stake in Preferred Bank in the third quarter valued at $237,000. Voya Investment Management LLC bought a new stake in Preferred Bank in the second quarter valued at $269,000. Eqis Capital Management Inc. grew its position in Preferred Bank by 26.6% in the fourth quarter. Eqis Capital Management Inc. now owns 5,577 shares of the bank’s stock valued at $328,000 after acquiring an additional 1,172 shares during the period. Finally, Principal Financial Group Inc. bought a new stake in Preferred Bank in the second quarter valued at $369,000. Hedge funds and other institutional investors own 80.12% of the company’s stock.
Shares of Preferred Bank (NASDAQ:PFBC) traded up $0.63 during midday trading on Friday, hitting $65.13. The company had a trading volume of 86,901 shares, compared to its average volume of 117,545. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $845.48, a price-to-earnings ratio of 21.93, a price-to-earnings-growth ratio of 1.40 and a beta of 0.92. Preferred Bank has a twelve month low of $46.88 and a twelve month high of $67.65.
The business also recently declared a quarterly dividend, which was paid on Monday, January 22nd. Shareholders of record on Monday, January 8th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.35%. This is a boost from Preferred Bank’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, January 5th. Preferred Bank’s dividend payout ratio is 29.63%.
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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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