Preferred Bank (NASDAQ:PFBC) is expected to post earnings of $1.70 per share
Brokers expect Preferred Bank (NASDAQ:PFBC) to report earnings per share (EPS) of $1.70 for the current quarter, according to Zacks Investment Research. Four analysts have made earnings estimates for Preferred Bank. The lowest EPS estimate is $1.62 and the highest is $1.78. Preferred Bank reported earnings per share of $1.42 in the same quarter last year, which would indicate a positive growth rate of 19.7% year over year. The company is due to announce its next earnings report on Tuesday, April 19.
On average, analysts expect Preferred Bank to report annual earnings of $7.07 per share for the current year, with EPS estimates ranging from $6.82 to $7.40. For the next fiscal year, analysts expect the company to post earnings of $7.67 per share, with EPS estimates ranging from $7.06 to $8.40. Zacks earnings per share averages are an average average based on a survey of research firms that provide coverage for Preferred Bank.
Preferred Bank Inc (NASDAQ:PFBC) last reported results on Wednesday, January 19. The bank reported earnings per share of $1.80 for the quarter, beating consensus analyst estimates of $1.72 by $0.08. Preferred Bank had a return on equity of 16.42% and a net margin of 41.33%. During the same period last year, the company posted earnings per share of $1.40.
PFBC has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Preferred Bank from a “hold” rating to a “buy” rating and set a price target of $90.00 for the company in a Thursday, January 20 research report. B. Riley raised his price target on Preferred Bank from $95.00 to $100.00 and gave the company a “buy” rating in a Friday, Jan. 21 research report. Stephens downgraded Preferred Bank from an “equal weight” rating to an “overweight” rating and raised its price target for the company from $74.00 to $79.00 in a Friday 29 research report. October. Raymond James raised his price target on Preferred Bank from $75.00 to $85.00 and gave the company an “outperform” rating in a Friday, Jan. 21 research report. Finally, Piper Sandler raised her price target on Preferred Bank from $85.00 to $94.00 and gave the company an “overweight” rating in a Monday, January 24 research report. Five investment analysts rated the stock with a buy rating. According to MarketBeat, Preferred Bank currently has an average rating of “Buy” and a consensus target price of $89.60.
PFBC traded $0.86 on Monday during midday trading, hitting $78.06. 88,618 shares of the company were traded, compared to its average volume of 86,461. The company has a fifty-day moving average of $72.55 and a two-hundred-day moving average of $67.33. The stock has a market capitalization of $1.17 billion, a price-earnings ratio of 12.97 and a beta of 1.40. The company has a debt ratio of 0.26, a current ratio of 1.03 and a quick ratio of 1.03. Preferred Bank has a 52-week low of $47.84 and a 52-week high of $81.55.
The company also recently announced a quarterly dividend, which was paid on Friday, January 21. Shareholders of record on Friday, January 7 received a dividend of $0.43 per share. This is an increase from Preferred Bank’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, January 6. This represents a dividend of $1.72 on an annualized basis and a dividend yield of 2.20%. Preferred Bank’s dividend payout ratio is 28.57%.
Hedge funds have recently been buying and selling shares of the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Preferred Bank stock during Q3 for a value of approximately $60,000. Everence Capital Management Inc. purchased a new stake in Preferred Bank stock in Q4 for a value of approximately $209,000. Ensign Peak Advisors Inc increased its stake in Preferred Bank shares by 37.5% in Q3. Ensign Peak Advisors Inc now owns 4,400 shares of the bank worth $293,000 after buying an additional 1,200 shares in the last quarter. Metropolitan Life Insurance Co NY increased its equity stake in Preferred Bank by 110,900.0% in Q2. Metropolitan Life Insurance Co NY now owns 4,440 shares of the bank worth $281,000 after buying 4,436 additional shares in the last quarter. Finally, Maryland State Retirement & Pension System purchased a new equity stake in Preferred Bank in Q3 for approximately $369,000. Hedge funds and other institutional investors own 73.33% of the company’s shares.
About Preferred Bank
Preferred Bank operates as an independent commercial bank. It offers real estate financing for residential, commercial, industrial and other income-generating properties. Its business and consumer products include chequing, savings, money market and certificate of deposit accounts. The company also offers cash management services such as account reconciliation, remote deposit, cash and check courier services, merchant processing and ACH credit issuance.
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