$0.85 EPS Expected for Preferred Bank (PFBC) This Quarter
Brokerages forecast that Preferred Bank (NASDAQ:PFBC) will post $0.85 earnings per share for the current quarter, according to Zacks. Four analysts have made estimates for Preferred Bank’s earnings, with the lowest EPS estimate coming in at $0.84 and the highest estimate coming in at $0.87. Preferred Bank reported earnings of $0.69 per share in the same quarter last year, which would indicate a positive year over year growth rate of 23.2%. The company is expected to issue its next earnings results on Wednesday, October 18th.
According to Zacks, analysts expect that Preferred Bank will report full-year earnings of $3.22 per share for the current year, with EPS estimates ranging from $3.19 to $3.26. For the next financial year, analysts expect that the firm will post earnings of $3.66 per share, with EPS estimates ranging from $3.53 to $3.85. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Preferred Bank.
Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings results on Tuesday, July 18th. The bank reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.05. Preferred Bank had a return on equity of 14.18% and a net margin of 28.91%. The business had revenue of $32.55 million during the quarter, compared to the consensus estimate of $31.78 million.
A number of analysts have recently commented on PFBC shares. BidaskClub cut Preferred Bank from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Zacks Investment Research upgraded Preferred Bank from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Saturday, June 24th. ValuEngine upgraded Preferred Bank from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. FBR & Co restated a “buy” rating on shares of Preferred Bank in a research report on Wednesday, July 19th. Finally, Stephens upgraded Preferred Bank from an “equal weight” rating to an “overweight” rating in a research report on Monday, July 10th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $60.50.
Preferred Bank (NASDAQ:PFBC) traded down 0.24% on Thursday, reaching $53.80. The company’s stock had a trading volume of 55,238 shares. The firm has a 50-day moving average of $55.52 and a 200 day moving average of $53.56. Preferred Bank has a 12-month low of $34.31 and a 12-month high of $58.98. The company has a market capitalization of $773.05 million, a price-to-earnings ratio of 18.48 and a beta of 0.97.
Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Preferred Bank by 6.3% in the second quarter. Vanguard Group Inc. now owns 554,921 shares of the bank’s stock worth $29,672,000 after buying an additional 32,867 shares during the period. Nuveen Asset Management LLC boosted its stake in Preferred Bank by 52.5% in the first quarter. Nuveen Asset Management LLC now owns 530,245 shares of the bank’s stock worth $28,453,000 after buying an additional 182,564 shares during the period. Dimensional Fund Advisors LP boosted its stake in Preferred Bank by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 485,055 shares of the bank’s stock worth $25,936,000 after buying an additional 10,311 shares during the period. State Street Corp boosted its stake in Preferred Bank by 61.7% in the second quarter. State Street Corp now owns 388,696 shares of the bank’s stock worth $20,782,000 after buying an additional 148,363 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Preferred Bank by 7.5% in the second quarter. Renaissance Technologies LLC now owns 373,057 shares of the bank’s stock worth $19,947,000 after buying an additional 26,002 shares during the period. Institutional investors and hedge funds own 79.01% of the company’s stock.
About Preferred Bank
Preferred Bank is a commercial bank. The Bank provides deposit services, as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals and high net worth individuals. The Bank offers various services, such as personal banking, business banking and treasury management.
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