Analysts predict that Preferred Bank (NASDAQ:PFBC) will post earnings of $1.17 per share for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Preferred Bank’s earnings. The highest EPS estimate is $1.20 and the lowest is $1.15. Preferred Bank posted earnings per share of $0.94 during the same quarter last year, which would indicate a positive year over year growth rate of 24.5%. The company is expected to announce its next earnings results on Tuesday, October 23rd.
On average, analysts expect that Preferred Bank will report full year earnings of $4.63 per share for the current fiscal year, with EPS estimates ranging from $4.59 to $4.68. For the next financial year, analysts anticipate that the firm will post earnings of $5.20 per share, with EPS estimates ranging from $5.02 to $5.35. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Preferred Bank.
Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Wednesday, July 18th. The bank reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.05. The company had revenue of $39.16 million during the quarter, compared to the consensus estimate of $38.66 million. Preferred Bank had a net margin of 30.57% and a return on equity of 17.86%.
Several brokerages have recently issued reports on PFBC. B. Riley upped their price target on shares of Preferred Bank from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, July 20th. BidaskClub upgraded shares of Preferred Bank from a “sell” rating to a “hold” rating in a report on Friday, July 6th. Raymond James downgraded shares of Preferred Bank from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, July 10th. Stephens downgraded shares of Preferred Bank from an “overweight” rating to an “equal weight” rating in a report on Friday, July 6th. Finally, Zacks Investment Research upgraded Preferred Bank from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $73.40.
Shares of NASDAQ:PFBC opened at $63.16 on Friday. The firm has a market cap of $821.61 million, a PE ratio of 15.01, a P/E/G ratio of 1.35 and a beta of 1.01. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.07 and a quick ratio of 1.07. Preferred Bank has a 52-week low of $49.84 and a 52-week high of $69.48.
A number of hedge funds and other institutional investors have recently bought and sold shares of PFBC. Boston Partners acquired a new stake in Preferred Bank in the first quarter valued at $14,549,000. FMR LLC increased its holdings in Preferred Bank by 30.5% in the second quarter. FMR LLC now owns 896,126 shares of the bank’s stock valued at $55,076,000 after purchasing an additional 209,615 shares during the period. BlackRock Inc. increased its holdings in Preferred Bank by 19.9% in the second quarter. BlackRock Inc. now owns 968,015 shares of the bank’s stock valued at $59,493,000 after purchasing an additional 160,809 shares during the period. Millennium Management LLC increased its holdings in Preferred Bank by 267.8% in the second quarter. Millennium Management LLC now owns 186,266 shares of the bank’s stock valued at $11,448,000 after purchasing an additional 135,628 shares during the period. Finally, Nuveen Asset Management LLC increased its holdings in Preferred Bank by 11.6% in the first quarter. Nuveen Asset Management LLC now owns 780,084 shares of the bank’s stock valued at $50,081,000 after purchasing an additional 81,049 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.
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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