Zacks: Brokerages Anticipate Preferred Bank (NASDAQ:PFBC) to report earnings of $1.69 per share


Analysts expect Preferred Bank (NASDAQ:PFBC – Get a rating) to post earnings of $1.69 per share for the current fiscal quarter, according to Zacks. Four analysts released earnings estimates for Preferred Bank. The lowest EPS estimate is $1.62 and the highest is $1.78. Preferred Bank reported earnings of $1.42 per share in the same quarter last year, indicating a positive year-over-year growth rate of 19%. The company is due to announce its next quarterly results on Tuesday, April 19.

According to Zacks, analysts expect Preferred Bank to report annual earnings of $7.15 per share for the current fiscal year, with EPS estimates ranging from $6.82 to $7.45. For the next fiscal year, analysts expect the company to post earnings of $7.76 per share, with EPS estimates ranging from $7.06 to $8.45. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts who cover Preferred Bank.

Preferred Bank (NASDAQ: PFBC – Get a rating) last released its quarterly earnings data on Wednesday, January 19. The bank reported EPS of $1.80 for the quarter, beating analysts’ consensus estimate of $1.72 by $0.08. Preferred Bank had a return on equity of 16.98% and a net margin of 43.53%. During the same period last year, the company achieved EPS of $1.40.

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CBFP has been the subject of several recent analyst reports. Piper Sandler raised her price target on Preferred Bank from $85.00 to $94.00 and gave the stock an “overweight” rating in a Monday, January 24 report. Raymond James raised his price target on Preferred Bank shares from $75.00 to $85.00 and gave the stock an “outperform” rating in a Friday, January 21 research report. B. Riley raised his price target on Preferred Bank stock from $95.00 to $100.00 and gave the stock a “buy” rating in a Friday, Jan. 21 research report. Zacks Investment Research upgraded Preferred Bank shares from a “hold” rating to a “buy” rating and set a price target of $90.00 for the company in a Thursday, January 20 research report. Finally, Janney Montgomery Scott upgraded Preferred Bank shares from a “neutral” rating to a “buy” rating and set a price target of $95.00 for the company in a Wednesday, February 16 research report. Six investment analysts have rated the stock with a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus Buy rating and a consensus target price of $90.50.

Several hedge funds have recently changed their positions in the company. Norges Bank acquired a new position in shares of Preferred Bank in Q4 worth $4,035,000. Barclays PLC increased its stake in Preferred Bank by 60.6% in the 4th quarter. Barclays PLC now owns 29,774 shares in the bank worth $2,137,000 after buying an additional 11,238 shares during the period. Wells Fargo & Company MN increased its equity stake in Preferred Bank by 6.2% during the 4th quarter. Wells Fargo & Company MN now owns 16,992 shares of the bank worth $1,219,000 after buying 992 additional shares in the last quarter. California State Teachers Retirement System increased its equity stake in Preferred Bank by 2.0% during the 4th quarter. California State Teachers Retirement System now owns 20,219 shares of the bank worth $1,452,000 after buying 401 additional shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in Preferred Bank shares by 14.7% during the 4th quarter. Parametric Portfolio Associates LLC now owns 27,569 shares of the bank worth $1,979,000 after buying 3,538 additional shares in the last quarter. 72.86% of the shares are held by institutional investors.

Shares of PFBC rose $0.54 on Friday, hitting $75.14. The company’s stock had a trading volume of 59,352 shares, compared to an average volume of 84,526. The company has a market capitalization of $1.13 billion, a PE ratio of 11.70 and a beta of 1 ,29. The company has a debt ratio of 0.25, a current ratio of 1.04 and a quick ratio of 1.03. Preferred Bank has a fifty-two week low of $57.27 and a fifty-two week high of $81.97. The company has a 50-day moving average price of $77.92 and a 200-day moving average price of $71.09.

The company also recently declared a quarterly dividend, which was paid on Friday, January 21. Shareholders of record on Friday, January 7 received a dividend of $0.43. This is a positive change from Preferred Bank’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, January 6. This represents an annualized dividend of $1.72 and a dividend yield of 2.29%. Preferred Bank’s payout ratio is 26.79%.

Preferred banking company profile (Get a rating)

Preferred Bank operates as an independent commercial bank. It offers real estate financing for residential, commercial, industrial and other income-generating properties. Its business and consumer products include chequing, savings, money market and certificate of deposit accounts. The company also offers cash management services such as account reconciliation, remote deposit, cash and check courier services, merchant processing and ACH credit issuance.

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Preferred Bank Earnings History and Estimates (NASDAQ:PFBC)

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