Equities research analysts expect Preferred Bank (NASDAQ:PFBC) to report sales of $38.66 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Preferred Bank’s earnings, with the highest sales estimate coming in at $39.00 million and the lowest estimate coming in at $38.46 million. Preferred Bank posted sales of $32.55 million in the same quarter last year, which suggests a positive year-over-year growth rate of 18.8%. The business is expected to announce its next earnings results on Tuesday, July 17th.
According to Zacks, analysts expect that Preferred Bank will report full year sales of $158.49 million for the current year, with estimates ranging from $156.00 million to $160.28 million. For the next financial year, analysts expect that the company will post sales of $180.06 million per share, with estimates ranging from $172.30 million to $185.43 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Preferred Bank.
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Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings data on Thursday, April 19th. The bank reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.03. The business had revenue of $37.71 million during the quarter, compared to the consensus estimate of $37.29 million. Preferred Bank had a return on equity of 16.74% and a net margin of 28.88%.
Separately, BidaskClub raised Preferred Bank from a “sell” rating to a “hold” rating in a report on Friday, March 9th. One analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $72.60.
Hedge funds have recently bought and sold shares of the company. Prudential Financial Inc. lifted its holdings in shares of Preferred Bank by 84.2% during the first quarter. Prudential Financial Inc. now owns 72,494 shares of the bank’s stock worth $4,655,000 after purchasing an additional 33,134 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Preferred Bank by 15.9% during the fourth quarter. Wells Fargo & Company MN now owns 30,178 shares of the bank’s stock worth $1,774,000 after purchasing an additional 4,134 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Preferred Bank by 4.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 100,739 shares of the bank’s stock worth $5,922,000 after purchasing an additional 4,425 shares during the period. BlackRock Inc. lifted its holdings in shares of Preferred Bank by 4.7% during the fourth quarter. BlackRock Inc. now owns 795,647 shares of the bank’s stock worth $46,768,000 after purchasing an additional 35,989 shares during the period. Finally, Driehaus Capital Management LLC lifted its holdings in shares of Preferred Bank by 35.8% during the fourth quarter. Driehaus Capital Management LLC now owns 184,640 shares of the bank’s stock worth $10,853,000 after purchasing an additional 48,632 shares during the period. 86.96% of the stock is owned by institutional investors and hedge funds.
Shares of PFBC stock traded up $1.75 during trading hours on Friday, hitting $67.85. The stock had a trading volume of 443,279 shares, compared to its average volume of 101,181. The company has a market capitalization of $871.73 million, a P/E ratio of 19.84, a PEG ratio of 1.43 and a beta of 1.00. Preferred Bank has a twelve month low of $49.84 and a twelve month high of $68.25. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.28.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 20th. Stockholders of record on Friday, July 6th will be issued a $0.25 dividend. This is an increase from Preferred Bank’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Thursday, July 5th. Preferred Bank’s dividend payout ratio is presently 25.73%.
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, negotiable order of withdrawal, 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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