Brokerages expect that Preferred Bank (NASDAQ:PFBC) will report sales of $39.13 million for the current quarter, according to Zacks. Four analysts have provided estimates for Preferred Bank’s earnings, with the lowest sales estimate coming in at $38.50 million and the highest estimate coming in at $40.32 million. Preferred Bank posted sales of $32.55 million in the same quarter last year, which suggests a positive year-over-year growth rate of 20.2%. The business is expected to report its next earnings report on Tuesday, July 17th.
According to Zacks, analysts expect that Preferred Bank will report full-year sales of $159.54 million for the current year, with estimates ranging from $156.00 million to $164.46 million. For the next financial year, analysts forecast that the business will post sales of $181.71 million per share, with estimates ranging from $172.30 million to $192.05 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Preferred Bank.
Preferred Bank (NASDAQ:PFBC) last announced its earnings results on Thursday, April 19th. The bank reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. The business had revenue of $37.71 million for the quarter, compared to analysts’ expectations of $37.29 million. Preferred Bank had a return on equity of 18.48% and a net margin of 28.88%.
Several brokerages have issued reports on PFBC. Zacks Investment Research cut Preferred Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. BidaskClub downgraded Preferred Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, May 9th. B. Riley reaffirmed a “buy” rating and issued a $76.00 price objective on shares of Preferred Bank in a research note on Wednesday, January 24th. Finally, Sandler O’Neill reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Preferred Bank in a research note on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. Preferred Bank currently has a consensus rating of “Buy” and a consensus target price of $72.60.
Institutional investors and hedge funds have recently modified their holdings of the stock. Stevens Capital Management LP bought a new stake in Preferred Bank during the 1st quarter valued at approximately $220,000. Capital Fund Management S.A. bought a new stake in Preferred Bank during the 4th quarter valued at approximately $241,000. Hsbc Holdings PLC bought a new stake in Preferred Bank during the 1st quarter valued at approximately $267,000. First Mercantile Trust Co. bought a new stake in Preferred Bank in the 4th quarter worth approximately $256,000. Finally, Victory Capital Management Inc. bought a new stake in Preferred Bank in the 1st quarter worth approximately $287,000. 85.26% of the stock is currently owned by institutional investors.
Preferred Bank traded down $1.40, hitting $62.04, on Wednesday, MarketBeat reports. The stock had a trading volume of 123,400 shares, compared to its average volume of 90,568. The stock has a market capitalization of $836.65 million, a price-to-earnings ratio of 18.14, a PEG ratio of 1.37 and a beta of 0.98. Preferred Bank has a 52-week low of $62.25 and a 52-week high of $63.41.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 23rd. Investors of record on Monday, April 9th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Friday, April 6th. Preferred Bank’s dividend payout ratio (DPR) is presently 25.73%.
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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