Wall Street brokerages forecast that Preferred Bank (NASDAQ:PFBC) will report $34.68 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Preferred Bank’s earnings, with the highest sales estimate coming in at $35.30 million and the lowest estimate coming in at $34.20 million. Preferred Bank reported sales of $27.85 million during the same quarter last year, which would suggest a positive year over year growth rate of 24.5%. The company is expected to announce its next quarterly earnings results after the market closes on Tuesday, October 24th.
On average, analysts expect that Preferred Bank will report full-year sales of $34.68 million for the current fiscal year, with estimates ranging from $132.60 million to $135.10 million. For the next year, analysts expect that the business will post sales of $157.40 million per share, with estimates ranging from $149.70 million to $166.40 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Preferred Bank.
Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings results on Tuesday, July 18th. The bank reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.05. Preferred Bank had a net margin of 28.91% and a return on equity of 14.05%. The business had revenue of $32.55 million during the quarter, compared to analyst estimates of $31.78 million.
Several institutional investors and hedge funds have recently bought and sold shares of PFBC. First Trust Advisors LP grew its holdings in shares of Preferred Bank by 9.4% in the 1st quarter. First Trust Advisors LP now owns 26,197 shares of the bank’s stock worth $1,406,000 after purchasing an additional 2,250 shares during the last quarter. US Bancorp DE grew its holdings in shares of Preferred Bank by 14.5% in the 1st quarter. US Bancorp DE now owns 3,402 shares of the bank’s stock worth $183,000 after purchasing an additional 431 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Preferred Bank by 39.3% in the 1st quarter. Bank of New York Mellon Corp now owns 133,682 shares of the bank’s stock worth $7,173,000 after purchasing an additional 37,724 shares during the last quarter. UBS Asset Management Americas Inc. bought a new stake in shares of Preferred Bank in the 1st quarter worth about $207,000. Finally, Karp Capital Management Corp bought a new stake in shares of Preferred Bank in the 1st quarter worth about $270,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.
Preferred Bank (NASDAQ:PFBC) traded down 0.89% on Tuesday, hitting $59.33. 44,838 shares of the stock traded hands. The firm has a market cap of $852.51 million, a price-to-earnings ratio of 20.37 and a beta of 0.94. Preferred Bank has a 12-month low of $34.31 and a 12-month high of $60.99. The stock has a 50-day moving average of $55.11 and a 200-day moving average of $53.54.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, October 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Thursday, October 5th. Preferred Bank’s payout ratio is 27.49%.
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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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