Wall Street analysts expect Preferred Bank (NASDAQ:PFBC) to report $42.96 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Preferred Bank’s earnings. The highest sales estimate is $43.62 million and the lowest is $41.50 million. Preferred Bank reported sales of $37.71 million in the same quarter last year, which indicates a positive year over year growth rate of 13.9%. The business is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, April 17th.
According to Zacks, analysts expect that Preferred Bank will report full year sales of $178.50 million for the current fiscal year, with estimates ranging from $173.90 million to $182.70 million. For the next fiscal year, analysts forecast that the firm will report sales of $193.23 million, with estimates ranging from $187.50 million to $197.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Preferred Bank.
Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings results on Thursday, January 17th. The bank reported $1.13 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.11). The firm had revenue of $45.85 million for the quarter, compared to the consensus estimate of $42.11 million. Preferred Bank had a return on equity of 17.69% and a net margin of 34.70%.
Several equities analysts have recently commented on PFBC shares. Stephens restated a “hold” rating and set a $51.00 price target on shares of Preferred Bank in a research report on Tuesday, January 22nd. Zacks Investment Research lowered shares of Preferred Bank from a “hold” rating to a “sell” rating in a research report on Tuesday. FIG Partners restated an “outperform” rating on shares of Preferred Bank in a research report on Friday, April 12th. Finally, BidaskClub upgraded shares of Preferred Bank from a “strong sell” rating to a “sell” rating in a research report on Wednesday, March 27th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Preferred Bank has a consensus rating of “Hold” and an average target price of $61.50.
A number of hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN increased its stake in shares of Preferred Bank by 11.0% in the third quarter. Wells Fargo & Company MN now owns 48,364 shares of the bank’s stock valued at $2,830,000 after buying an additional 4,778 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Preferred Bank by 107.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 194,351 shares of the bank’s stock worth $11,369,000 after acquiring an additional 100,819 shares during the period. Martingale Asset Management L P grew its holdings in shares of Preferred Bank by 246.9% during the 3rd quarter. Martingale Asset Management L P now owns 25,712 shares of the bank’s stock worth $1,505,000 after acquiring an additional 18,301 shares during the period. BlackRock Inc. grew its holdings in shares of Preferred Bank by 111.6% during the 3rd quarter. BlackRock Inc. now owns 2,047,837 shares of the bank’s stock worth $119,799,000 after acquiring an additional 1,079,822 shares during the period. Finally, Great West Life Assurance Co. Can grew its holdings in shares of Preferred Bank by 1,086.0% during the 3rd quarter. Great West Life Assurance Co. Can now owns 17,137 shares of the bank’s stock worth $1,002,000 after acquiring an additional 15,692 shares during the period. 90.63% of the stock is owned by institutional investors and hedge funds.
Preferred Bank stock opened at $47.88 on Friday. The stock has a market cap of $697.42 million, a PE ratio of 10.52, a PEG ratio of 0.90 and a beta of 1.15. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.07 and a quick ratio of 1.07. Preferred Bank has a one year low of $39.87 and a one year high of $69.48.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 8th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, April 5th. This represents a $1.20 annualized dividend and a yield of 2.51%. This is an increase from Preferred Bank’s previous quarterly dividend of $0.12. Preferred Bank’s dividend payout ratio is presently 26.37%.
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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