Brokerages Anticipate Preferred Bank (PFBC) to Post $1.12 Earnings Per Share

Brokerages forecast that Preferred Bank (NASDAQ:PFBC) will announce earnings per share of $1.12 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Preferred Bank’s earnings. The highest EPS estimate is $1.16 and the lowest is $1.08. Preferred Bank reported earnings per share of $0.80 in the same quarter last year, which would indicate a positive year-over-year growth rate of 40%. The company is scheduled to report its next earnings report on Tuesday, July 17th.

On average, analysts expect that Preferred Bank will report full-year earnings of $4.63 per share for the current fiscal year, with EPS estimates ranging from $4.45 to $4.80. For the next fiscal year, analysts forecast that the company will report earnings of $5.33 per share, with EPS estimates ranging from $5.14 to $5.65. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Preferred Bank.

Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings results on Thursday, April 19th. The bank reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.03. Preferred Bank had a return on equity of 18.48% and a net margin of 28.88%. The company had revenue of $37.71 million during the quarter, compared to analysts’ expectations of $37.29 million.

A number of research firms have recently weighed in on PFBC. BidaskClub cut Preferred Bank from a “buy” rating to a “hold” rating in a report on Wednesday, April 11th. Zacks Investment Research raised Preferred Bank from a “hold” rating to a “strong-buy” rating and set a $73.00 price target for the company in a report on Saturday, January 13th. B. Riley reissued 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 reissued a “buy” rating and issued a $73.00 price target on shares of Preferred Bank in a report on Tuesday, January 23rd. Finally, Raymond James raised Preferred Bank from an “outperform” rating to a “strong-buy” rating and set a $71.00 price target for the company in a report on Tuesday, January 9th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $72.60.

Shares of NASDAQ PFBC traded down $0.41 during trading on Friday, reaching $66.49. The company had a trading volume of 74,858 shares, compared to its average volume of 92,268. Preferred Bank has a twelve month low of $48.89 and a twelve month high of $67.65. The stock has a market cap of $876.47, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 1.43 and a beta of 0.98.

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 $0.22 dividend. The ex-dividend date was Friday, April 6th. This represents a $0.88 annualized dividend and a yield of 1.32%. Preferred Bank’s payout ratio is currently 25.73%.

A number of institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC acquired a new position in Preferred Bank in the fourth quarter valued at $331,000. Millennium Management LLC increased its stake in Preferred Bank by 34.8% during the fourth quarter. Millennium Management LLC now owns 291,484 shares of the bank’s stock worth $17,133,000 after acquiring an additional 75,177 shares during the last quarter. Two Sigma Advisers LP increased its stake in Preferred Bank by 9.2% during the fourth quarter. Two Sigma Advisers LP now owns 59,200 shares of the bank’s stock worth $3,480,000 after acquiring an additional 5,000 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Preferred Bank by 23.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 22,756 shares of the bank’s stock worth $1,338,000 after acquiring an additional 4,251 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in Preferred Bank by 118.1% during the fourth quarter. Deutsche Bank AG now owns 107,803 shares of the bank’s stock worth $6,335,000 after acquiring an additional 58,369 shares during the last quarter. Hedge funds and other institutional investors own 83.89% of the company’s stock.

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

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