Brokerages Anticipate Preferred Bank (NASDAQ:PFBC) Will Post Earnings of $1.32 Per Share

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Equities research analysts expect Preferred Bank (NASDAQ:PFBC) to post earnings per share of $1.32 for the current quarter, Zacks reports. Four analysts have made estimates for Preferred Bank’s earnings. The lowest EPS estimate is $1.30 and the highest is $1.36. Preferred Bank reported earnings per share of $1.20 in the same quarter last year, which suggests a positive year-over-year growth rate of 10%. The company is expected to announce its next quarterly earnings report on Wednesday, October 16th.

According to Zacks, analysts expect that Preferred Bank will report full-year earnings of $5.16 per share for the current year, with EPS estimates ranging from $5.12 to $5.24. For the next year, analysts forecast that the business will report earnings of $5.41 per share, with EPS estimates ranging from $5.21 to $5.57. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Preferred Bank.

Preferred Bank (NASDAQ:PFBC) last issued its earnings results on Wednesday, July 17th. The bank reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.03. The business had revenue of $43.83 million for the quarter, compared to analyst estimates of $43.82 million. Preferred Bank had a net margin of 33.21% and a return on equity of 17.73%.

Several brokerages recently issued reports on PFBC. ValuEngine raised shares of Preferred Bank from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 27th. B. Riley lowered shares of Preferred Bank from a “buy” rating to a “neutral” rating and cut their target price for the stock from $59.00 to $55.00 in a research note on Wednesday, August 21st. DA Davidson set a $56.00 target price on shares of Preferred Bank and gave the stock a “hold” rating in a research note on Friday, July 19th. Raymond James lowered shares of Preferred Bank from a “strong-buy” rating to an “outperform” rating and set a $57.00 target price on the stock. in a research note on Friday, July 19th. Finally, BidaskClub lowered shares of Preferred Bank from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Preferred Bank has an average rating of “Hold” and an average target price of $53.20.

Several hedge funds have recently made changes to their positions in the company. Quantamental Technologies LLC bought a new position in shares of Preferred Bank in the 1st quarter worth about $31,000. Panagora Asset Management Inc. increased its stake in shares of Preferred Bank by 39.3% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,105 shares of the bank’s stock worth $52,000 after acquiring an additional 312 shares in the last quarter. BNP Paribas Arbitrage SA grew 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 valued at $130,000 after purchasing an additional 2,897 shares during the last quarter. Convergence Investment Partners LLC purchased a new stake in Preferred Bank during the 1st quarter valued at about $139,000. Finally, SG Americas Securities LLC purchased a new stake in Preferred Bank during the 1st quarter valued at about $199,000. Institutional investors own 77.19% of the company’s stock.

NASDAQ PFBC traded down $0.84 on Tuesday, hitting $47.98. 53,242 shares of the company were exchanged, compared to its average volume of 67,162. The company has a market cap of $734.74 million, a PE ratio of 10.55, a PEG ratio of 0.92 and a beta of 1.19. Preferred Bank has a 12 month low of $39.87 and a 12 month high of $62.83. The stock has a fifty day moving average of $50.73 and a 200-day moving average of $48.33. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.27.

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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Earnings History and Estimates for Preferred Bank (NASDAQ:PFBC)

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