Equities analysts predict that Preferred Bank (NASDAQ:PFBC) will announce $1.17 earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Preferred Bank’s earnings, with the highest EPS estimate coming in at $1.20 and the lowest estimate coming in at $1.15. Preferred Bank reported earnings of $0.94 per share in the same quarter last year, which indicates a positive year over year growth rate of 24.5%. The firm is expected to report its next earnings results on Tuesday, October 23rd.

According to Zacks, analysts expect that Preferred Bank will report full-year earnings of $4.63 per share for the current year, with EPS estimates ranging from $4.59 to $4.68. For the next year, analysts anticipate that the business will report earnings of $5.20 per share, with EPS estimates ranging from $5.02 to $5.35. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Preferred Bank.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings data on Wednesday, July 18th. The bank reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.05. Preferred Bank had a return on equity of 17.86% and a net margin of 30.57%. The business had revenue of $39.16 million during the quarter, compared to analyst estimates of $38.66 million.

Several analysts recently issued reports on the company. B. Riley increased their price objective on Preferred Bank from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, July 20th. BidaskClub upgraded Preferred Bank from a “sell” rating to a “hold” rating in a report on Friday, July 6th. Raymond James lowered Preferred Bank from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, July 10th. Stephens lowered 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 assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Preferred Bank has a consensus rating of “Buy” and a consensus target price of $73.40.

Shares of NASDAQ:PFBC traded up $0.11 during midday trading on Friday, hitting $62.30. 45,702 shares of the stock were exchanged, compared to its average volume of 124,360. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.28. Preferred Bank has a 52-week low of $49.84 and a 52-week high of $69.48. The firm has a market cap of $815.68 million, a price-to-earnings ratio of 18.22, a P/E/G ratio of 1.34 and a beta of 1.01.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 20th. Shareholders of record on Friday, July 6th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.61%. This is an increase from Preferred Bank’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, July 5th. Preferred Bank’s dividend payout ratio is presently 29.24%.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its position in Preferred Bank by 19.9% during the second quarter. BlackRock Inc. now owns 968,015 shares of the bank’s stock worth $59,493,000 after buying an additional 160,809 shares during the last quarter. FMR LLC increased its position in Preferred Bank by 30.5% during the second quarter. FMR LLC now owns 896,126 shares of the bank’s stock worth $55,076,000 after buying an additional 209,615 shares during the last quarter. Nuveen Asset Management LLC increased its position in Preferred Bank by 11.6% during the first quarter. Nuveen Asset Management LLC now owns 780,084 shares of the bank’s stock worth $50,081,000 after buying an additional 81,049 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Preferred Bank by 3.1% during the second quarter. Dimensional Fund Advisors LP now owns 563,318 shares of the bank’s stock worth $34,622,000 after buying an additional 16,749 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Preferred Bank by 12.0% during the second quarter. Renaissance Technologies LLC now owns 364,255 shares of the bank’s stock worth $22,387,000 after buying an additional 39,000 shares during the last quarter. 85.99% of the stock is currently owned by hedge funds and other institutional investors.

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

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