Equities research analysts forecast that Preferred Bank (NASDAQ:PFBC) will report $43.82 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Preferred Bank’s earnings, with estimates ranging from $43.60 million to $44.08 million. Preferred Bank reported sales of $39.16 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 11.9%. The business is expected to announce its next earnings results on Wednesday, July 17th.
On average, analysts expect that Preferred Bank will report full-year sales of $176.00 million for the current fiscal year, with estimates ranging from $173.70 million to $177.91 million. For the next year, analysts anticipate that the business will report sales of $189.39 million, with estimates ranging from $184.30 million to $193.16 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Preferred Bank.
Preferred Bank (NASDAQ:PFBC) last announced its earnings results on Wednesday, April 17th. The bank reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.06. Preferred Bank had a return on equity of 17.82% and a net margin of 33.75%. The business had revenue of $42.77 million during the quarter, compared to analysts’ expectations of $42.96 million.
Several equities research analysts have issued reports on the company. Zacks Investment Research cut Preferred Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. BidaskClub raised Preferred Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. DA Davidson lowered Preferred Bank from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $60.00 to $52.00 in a research report on Wednesday, June 5th. FIG Partners restated an “outperform” rating on shares of Preferred Bank in a research report on Friday, April 12th. Finally, Raymond James lowered their price target on Preferred Bank from $60.00 to $58.00 and set a “strong-buy” rating for the company in a research report on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Preferred Bank has an average rating of “Hold” and a consensus target price of $56.80.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantamental Technologies LLC purchased a new stake in Preferred Bank in the 1st quarter valued at approximately $31,000. BNP Paribas Arbitrage SA boosted its position in Preferred Bank by 72,425.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,901 shares of the bank’s stock worth $130,000 after purchasing an additional 2,897 shares during the period. Convergence Investment Partners LLC purchased a new stake in Preferred Bank during the 1st quarter worth $139,000. SG Americas Securities LLC purchased a new stake in Preferred Bank during the 1st quarter worth $199,000. Finally, Metropolitan Life Insurance Co. NY boosted its position in Preferred Bank by 319.0% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,710 shares of the bank’s stock worth $204,000 after purchasing an additional 3,586 shares during the period. Institutional investors and hedge funds own 77.48% of the company’s stock.
Shares of Preferred Bank stock traded up $1.85 during mid-day trading on Friday, reaching $47.57. 87,831 shares of the stock traded hands, compared to its average volume of 66,886. The company has a 50-day moving average price of $46.44. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $679.66 million, a PE ratio of 10.45, a PEG ratio of 0.87 and a beta of 1.21. Preferred Bank has a fifty-two week low of $39.87 and a fifty-two week high of $69.48.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, July 5th. This represents a $1.20 annualized dividend and a dividend yield of 2.52%. Preferred Bank’s dividend payout ratio is currently 26.37%.
Preferred Bank Company Profile
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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