Wall Street analysts expect that Preferred Bank (NASDAQ:PFBC) will post $49.76 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Preferred Bank’s earnings. The highest sales estimate is $51.02 million and the lowest is $48.00 million. Preferred Bank reported sales of $45.72 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.8%. The company is expected to issue its next earnings results on Monday, October 18th.
On average, analysts expect that Preferred Bank will report full year sales of $193.26 million for the current financial year, with estimates ranging from $188.20 million to $196.30 million. For the next year, analysts anticipate that the business will report sales of $207.73 million, with estimates ranging from $195.90 million to $217.61 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Preferred Bank.
Preferred Bank (NASDAQ:PFBC) last issued its earnings results on Monday, July 19th. The bank reported $1.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.48 by ($0.04). The firm had revenue of $45.01 million during the quarter, compared to analyst estimates of $47.81 million. Preferred Bank had a net margin of 37.52% and a return on equity of 15.17%.
NASDAQ:PFBC traded down $0.08 during mid-day trading on Friday, hitting $60.91. The stock had a trading volume of 371 shares, compared to its average volume of 60,814. The stock has a 50-day simple moving average of $60.57 and a two-hundred day simple moving average of $63.91. The company has a market capitalization of $916.70 million, a PE ratio of 11.27 and a beta of 1.50. Preferred Bank has a twelve month low of $30.65 and a twelve month high of $69.44. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.26.
Institutional investors and hedge funds have recently made changes to their positions in the company. Stieven Capital Advisors L.P. grew its position in shares of Preferred Bank by 14.3% during the second quarter. Stieven Capital Advisors L.P. now owns 303,997 shares of the bank’s stock worth $19,234,000 after acquiring an additional 38,100 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Preferred Bank by 8.0% during the first quarter. Geode Capital Management LLC now owns 237,135 shares of the bank’s stock worth $15,100,000 after acquiring an additional 17,549 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new position in shares of Preferred Bank during the first quarter worth approximately $205,000. Rafferty Asset Management LLC purchased a new position in shares of Preferred Bank during the first quarter worth approximately $610,000. Finally, Millennium Management LLC purchased a new position in shares of Preferred Bank during the first quarter worth approximately $3,026,000. Institutional investors and hedge funds own 74.78% of the company’s stock.
Preferred Bank Company Profile
Preferred Bank operates as an independent commercial bank. It offers real estate financing for residential, commercial, industrial, and other income producing properties. Its business and consumer products include checking, savings, money market, and certificate of deposit accounts. The firm also offers treasury management services such as account reconciliation, remote deposit, cash and check courier services, merchant processing, and ACH credit origination.
Further Reading: Cost of Goods Sold (COGS)
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