Preferred Bank (NASDAQ:PFBC) – Investment analysts at FIG Partners dropped their FY2017 earnings estimates for shares of Preferred Bank in a report released on Thursday. FIG Partners analyst T. Coffey now anticipates that the bank will earn $3.34 per share for the year, down from their prior forecast of $3.42. FIG Partners also issued estimates for Preferred Bank’s Q4 2017 earnings at $0.89 EPS, Q1 2018 earnings at $0.84 EPS, Q2 2018 earnings at $0.87 EPS, Q3 2018 earnings at $0.95 EPS, Q4 2018 earnings at $1.02 EPS, FY2018 earnings at $3.68 EPS, Q1 2019 earnings at $1.01 EPS, Q2 2019 earnings at $1.01 EPS, Q3 2019 earnings at $1.05 EPS and FY2019 earnings at $4.15 EPS.
Other equities research analysts have also issued research reports about the company. FBR & Co restated a “buy” rating on shares of Preferred Bank in a research note on Wednesday, July 19th. BidaskClub lowered Preferred Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Stephens upgraded Preferred Bank from an “equal weight” rating to an “overweight” rating in a research note on Monday, July 10th. Finally, Zacks Investment Research lowered Preferred Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Preferred Bank currently has a consensus rating of “Buy” and an average target price of $71.50.
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Shares of Preferred Bank (NASDAQ PFBC) opened at 62.00 on Monday. Preferred Bank has a one year low of $36.02 and a one year high of $66.58. The stock has a market cap of $890.88 million, a P/E ratio of 21.29 and a beta of 0.94. The stock’s 50 day moving average is $57.94 and its 200-day moving average is $54.49.
Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Tuesday, October 24th. The bank reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.09. The firm had revenue of $36.67 million for the quarter, compared to the consensus estimate of $34.68 million. Preferred Bank had a net margin of 29.33% and a return on equity of 15.22%.
Several hedge funds have recently modified their holdings of PFBC. Bank of New York Mellon Corp grew its stake in shares of Preferred Bank by 39.3% during the first quarter. Bank of New York Mellon Corp now owns 133,682 shares of the bank’s stock worth $7,173,000 after acquiring an additional 37,724 shares during the last quarter. UBS Asset Management Americas Inc. purchased a new stake in shares of Preferred Bank during the first quarter worth about $207,000. Karp Capital Management Corp purchased a new stake in shares of Preferred Bank during the first quarter worth about $270,000. SG Americas Securities LLC grew its stake in shares of Preferred Bank by 86.9% during the first quarter. SG Americas Securities LLC now owns 3,726 shares of the bank’s stock worth $200,000 after acquiring an additional 1,732 shares during the last quarter. Finally, American International Group Inc. grew its stake in shares of Preferred Bank by 7.1% during the first quarter. American International Group Inc. now owns 7,480 shares of the bank’s stock worth $401,000 after acquiring an additional 499 shares during the last quarter. Institutional investors and hedge funds own 78.53% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, October 6th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.29%. Preferred Bank’s payout ratio is 25.32%.
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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