Wall Street analysts expect Preferred Bank (NASDAQ:PFBC) to report sales of $43.86 million for the current quarter, Zacks reports. Three analysts have provided estimates for Preferred Bank’s earnings, with the lowest sales estimate coming in at $43.60 million and the highest estimate coming in at $44.30 million. Preferred Bank reported sales of $45.85 million in the same quarter last year, which indicates a negative year over year growth rate of 4.3%. The company is expected to report its next quarterly earnings report on Thursday, January 16th.
On average, analysts expect that Preferred Bank will report full-year sales of $173.81 million for the current year, with estimates ranging from $172.80 million to $175.00 million. For the next financial year, analysts expect that the business will post sales of $179.10 million, with estimates ranging from $177.35 million to $180.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Preferred Bank.
Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings data on Wednesday, October 16th. The bank reported $1.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.32. The company had revenue of $43.21 million for the quarter, compared to analyst estimates of $44.22 million. Preferred Bank had a net margin of 33.21% and a return on equity of 17.73%.
PFBC has been the subject of a number of recent analyst reports. Raymond James decreased their price target on shares of Preferred Bank from $57.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Zacks Investment Research raised shares of Preferred Bank from a “sell” rating to a “hold” rating in a research report on Thursday, July 25th. DA Davidson set a $56.00 price target on shares of Preferred Bank and gave the stock a “hold” rating in a research report on Friday, July 19th. ValuEngine raised shares of Preferred Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, BidaskClub raised shares of Preferred Bank from a “hold” rating to a “buy” rating in a research report on Saturday, August 31st. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Preferred Bank has an average rating of “Hold” and an average price target of $52.80.
Shares of PFBC traded down $0.20 during mid-day trading on Monday, reaching $51.66. 37,872 shares of the stock traded hands, compared to its average volume of 68,195. The firm has a market cap of $792.23 million, a price-to-earnings ratio of 11.35 and a beta of 1.19. The stock has a fifty day simple moving average of $51.95 and a 200 day simple moving average of $49.13. Preferred Bank has a 12-month low of $39.87 and a 12-month high of $60.84. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.27.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, October 7th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Friday, October 4th. Preferred Bank’s payout ratio is currently 26.37%.
Several hedge funds have recently added to or reduced their stakes in PFBC. Panagora Asset Management Inc. grew its position in shares of Preferred Bank by 39.3% during the second quarter. Panagora Asset Management Inc. now owns 1,105 shares of the bank’s stock worth $52,000 after buying an additional 312 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Preferred Bank in the second quarter worth $205,000. Miles Capital Inc. acquired a new position in Preferred Bank in the second quarter worth $216,000. Laurion Capital Management LP acquired a new position in Preferred Bank in the second quarter worth $221,000. Finally, Susquehanna International Group LLP acquired a new position in Preferred Bank in the second quarter worth $259,000. 77.64% of the stock is owned by institutional investors and hedge funds.
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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