Equities analysts predict that Preferred Bank (NASDAQ:PFBC) will report sales of $37.03 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Preferred Bank’s earnings. The lowest sales estimate is $36.40 million and the highest is $37.73 million. Preferred Bank reported sales of $30.53 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 21.3%. The company is scheduled to report its next earnings report on Wednesday, April 18th.
According to Zacks, analysts expect that Preferred Bank will report full year sales of $37.03 million for the current fiscal year, with estimates ranging from $151.80 million to $164.50 million. For the next fiscal year, analysts forecast that the company will report sales of $180.22 million per share, with estimates ranging from $167.00 million to $192.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Preferred Bank.
Preferred Bank (NASDAQ:PFBC) last issued its earnings results on Monday, January 22nd. The bank reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.08. Preferred Bank had a net margin of 26.51% and a return on equity of 16.69%. The company had revenue of $35.78 million for the quarter, compared to analysts’ expectations of $36.37 million.
Several brokerages have issued reports on PFBC. Sandler O’Neill reiterated a “buy” rating and set a $73.00 target price on shares of Preferred Bank in a report on Tuesday, January 23rd. B. Riley reiterated a “buy” rating and set a $76.00 target price on shares of Preferred Bank in a report on Wednesday, January 24th. Zacks Investment Research upgraded shares of Preferred Bank from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a report on Saturday, October 28th. BidaskClub upgraded shares of Preferred Bank from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Finally, ValuEngine cut shares of Preferred Bank from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Three analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. Preferred Bank has a consensus rating of “Buy” and an average price target of $72.60.
Several large investors have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC bought a new stake in shares of Preferred Bank in the 4th quarter valued at about $331,000. Millennium Management LLC boosted its holdings in shares of Preferred Bank by 34.8% in the 4th quarter. Millennium Management LLC now owns 291,484 shares of the bank’s stock valued at $17,133,000 after buying an additional 75,177 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Preferred Bank by 9.2% in the 4th quarter. Two Sigma Advisers LP now owns 59,200 shares of the bank’s stock valued at $3,480,000 after buying an additional 5,000 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Preferred Bank by 23.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 22,756 shares of the bank’s stock valued at $1,338,000 after buying an additional 4,251 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Preferred Bank by 118.1% in the 4th quarter. Deutsche Bank AG now owns 107,803 shares of the bank’s stock valued at $6,335,000 after buying an additional 58,369 shares in the last quarter. Institutional investors and hedge funds own 80.48% of the company’s stock.
Shares of Preferred Bank (PFBC) traded up $1.23 during trading on Tuesday, reaching $65.22. 123,182 shares of the company’s stock traded hands, compared to its average volume of 103,972. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.35. Preferred Bank has a one year low of $46.88 and a one year high of $67.65. The company has a market cap of $820.95, a PE ratio of 21.55, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96.
The company also recently declared a quarterly dividend, which was paid on Monday, January 22nd. Stockholders of record on Monday, January 8th were issued a $0.22 dividend. This is a boost from Preferred Bank’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Friday, January 5th. Preferred Bank’s dividend payout ratio (DPR) is currently 29.63%.
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Preferred Bank Company Profile
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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