Preferred Bank (PFBC) Expected to Announce Earnings of $1.07 Per Share

Wall Street analysts expect Preferred Bank (NASDAQ:PFBC) to report earnings per share (EPS) of $1.07 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Preferred Bank’s earnings, with estimates ranging from $1.02 to $1.11. Preferred Bank posted earnings per share of $0.71 in the same quarter last year, which would indicate a positive year over year growth rate of 50.7%. The company is scheduled to report its next earnings results after the market closes on Thursday, April 19th.

On average, analysts expect that Preferred Bank will report full-year earnings of $4.59 per share for the current year, with EPS estimates ranging from $4.36 to $4.74. For the next financial year, analysts forecast that the firm will report earnings of $5.29 per share, with EPS estimates ranging from $5.08 to $5.50. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Preferred Bank.

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Preferred Bank (NASDAQ:PFBC) last announced its earnings results on Monday, January 22nd. The bank reported $0.98 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $36.37 million.

Several brokerages recently commented on PFBC. BidaskClub upgraded Preferred Bank from a “hold” rating to a “buy” rating in a research report on Tuesday, April 3rd. B. Riley reiterated a “buy” rating and issued a $76.00 price target on shares of Preferred Bank in a report on Wednesday, January 24th. Sandler O’Neill reiterated a “buy” rating and issued a $73.00 price target on shares of Preferred Bank in a report on Tuesday, January 23rd. Raymond James Financial upgraded Preferred Bank from an “outperform” rating to a “strong-buy” rating and set a $71.00 price target on the stock in a report on Tuesday, January 9th. They noted that the move was a valuation call. Finally, UBS upgraded Preferred Bank from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, January 9th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $72.60.

Shares of Preferred Bank stock traded up $1.57 on Tuesday, hitting $64.50. 167,081 shares of the company’s stock traded hands, compared to its average volume of 94,737. Preferred Bank has a one year low of $46.88 and a one year high of $67.65. The firm has a market cap of $832.16, a price-to-earnings ratio of 18.40, a PEG ratio of 1.38 and a beta of 0.98.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 23rd. Shareholders of record on Monday, April 9th will be issued a $0.22 dividend. The ex-dividend date is Friday, April 6th. This represents a $0.88 annualized dividend and a yield of 1.36%. Preferred Bank’s payout ratio is currently 25.73%.

A number of large investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA boosted its holdings in Preferred Bank by 80.4% in the third quarter. BNP Paribas Arbitrage SA now owns 2,415 shares of the bank’s stock worth $146,000 after acquiring an additional 1,076 shares in the last quarter. Eqis Capital Management Inc. boosted its holdings in Preferred Bank by 26.6% in the fourth quarter. Eqis Capital Management Inc. now owns 5,577 shares of the bank’s stock worth $328,000 after acquiring an additional 1,172 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Preferred Bank by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 119,502 shares of the bank’s stock worth $7,023,000 after purchasing an additional 1,575 shares during the last quarter. Columbia Partners L L C Investment Management raised its stake in shares of Preferred Bank by 8.9% in the fourth quarter. Columbia Partners L L C Investment Management now owns 24,117 shares of the bank’s stock worth $1,417,000 after purchasing an additional 1,968 shares during the last quarter. Finally, Cadence Capital Management LLC raised its stake in shares of Preferred Bank by 7.8% in the fourth quarter. Cadence Capital Management LLC now owns 28,316 shares of the bank’s stock worth $1,664,000 after purchasing an additional 2,037 shares during the last quarter. Institutional investors and hedge funds own 84.06% of the company’s stock.

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Preferred Bank Company Profile

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

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