Wall Street brokerages predict that Preferred Bank (NASDAQ:PFBC) will report $38.66 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Preferred Bank’s earnings. The highest sales estimate is $39.00 million and the lowest is $38.46 million. Preferred Bank posted sales of $32.55 million during the same quarter last year, which suggests a positive year-over-year growth rate of 18.8%. The firm is scheduled to issue its next earnings report on Tuesday, July 17th.
According to Zacks, analysts expect that Preferred Bank will report full-year sales of $158.49 million for the current year, with estimates ranging from $156.00 million to $160.28 million. For the next year, analysts expect that the company will post sales of $180.06 million per share, with estimates ranging from $172.30 million to $185.43 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Preferred Bank.
Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings results on Thursday, April 19th. The bank reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. Preferred Bank had a return on equity of 16.74% and a net margin of 28.88%. The company had revenue of $37.71 million during the quarter, compared to analyst estimates of $37.29 million.
Separately, BidaskClub upgraded Preferred Bank from a “hold” rating to a “buy” rating in a report on Tuesday, April 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. Preferred Bank has an average rating of “Buy” and a consensus price target of $72.60.
Shares of Preferred Bank traded up $4.71, reaching $66.17, during trading hours on Friday, Marketbeat.com reports. 25,342 shares of the company’s stock were exchanged, compared to its average volume of 69,555. Preferred Bank has a fifty-two week low of $49.84 and a fifty-two week high of $67.88. The firm has a market cap of $810.53 million, a PE ratio of 18.94, a price-to-earnings-growth ratio of 1.33 and a beta of 1.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.28.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 20th. Investors of record on Friday, July 6th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.51%. This is a positive change from Preferred Bank’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, July 5th. Preferred Bank’s dividend payout ratio is presently 25.73%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN raised its stake in shares of Preferred Bank by 3.6% in the first quarter. Wells Fargo & Company MN now owns 31,273 shares of the bank’s stock valued at $2,007,000 after purchasing an additional 1,095 shares in the last quarter. Thomson Horstmann & Bryant Inc. raised its stake in shares of Preferred Bank by 1.7% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 67,980 shares of the bank’s stock valued at $4,364,000 after purchasing an additional 1,117 shares in the last quarter. Affinity Investment Advisors LLC raised its stake in shares of Preferred Bank by 26.5% in the first quarter. Affinity Investment Advisors LLC now owns 5,595 shares of the bank’s stock valued at $359,000 after purchasing an additional 1,172 shares in the last quarter. Barclays PLC raised its stake in shares of Preferred Bank by 27.5% in the first quarter. Barclays PLC now owns 5,789 shares of the bank’s stock valued at $372,000 after purchasing an additional 1,247 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Preferred Bank by 7.0% in the first quarter. Swiss National Bank now owns 22,889 shares of the bank’s stock valued at $1,469,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 86.96% of the company’s stock.
Preferred Bank Company Profile
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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