Preferred Bank (PFBC) Expected to Post Quarterly Sales of $37.03 Million

Equities analysts expect Preferred Bank (NASDAQ:PFBC) to post sales of $37.03 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Preferred Bank’s earnings, with estimates ranging from $36.40 million to $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 year, with estimates ranging from $151.80 million to $164.50 million. For the next year, analysts expect that the business will post sales of $180.22 million per share, with estimates ranging from $167.00 million to $192.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Preferred Bank.

Preferred Bank (NASDAQ:PFBC) last announced its earnings results on Monday, January 22nd. The bank reported $0.98 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $36.37 million.

Several research firms have recently commented on PFBC. Sandler O’Neill reiterated a “buy” rating and set a $73.00 price objective on shares of Preferred Bank in a research note on Tuesday, January 23rd. B. Riley reiterated a “buy” rating and set a $76.00 price objective on shares of Preferred Bank in a research note 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 price objective for the company in a research note on Saturday, October 28th. BidaskClub upgraded shares of Preferred Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. Finally, ValuEngine downgraded shares of Preferred Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $72.60.

Preferred Bank (NASDAQ:PFBC) traded up $0.63 during trading hours on Friday, hitting $65.13. 86,901 shares of the stock traded hands, compared to its average volume of 117,545. Preferred Bank has a 1-year low of $46.88 and a 1-year high of $67.65. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $845.48, a P/E ratio of 21.93, a P/E/G ratio of 1.40 and a beta of 0.92.

The firm also recently announced a quarterly dividend, which was paid on Monday, January 22nd. Investors of record on Monday, January 8th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Friday, January 5th. This is a boost from Preferred Bank’s previous quarterly dividend of $0.20. Preferred Bank’s dividend payout ratio (DPR) is 29.63%.

Several institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA increased its holdings in Preferred Bank by 80.4% in the third quarter. BNP Paribas Arbitrage SA now owns 2,415 shares of the bank’s stock valued at $146,000 after buying an additional 1,076 shares in the last quarter. Stevens Capital Management LP acquired a new stake in shares of Preferred Bank in the third quarter valued at about $237,000. Voya Investment Management LLC acquired a new position in Preferred Bank during the second quarter worth about $269,000. Eqis Capital Management Inc. boosted its position in Preferred Bank by 26.6% during the fourth quarter. Eqis Capital Management Inc. now owns 5,577 shares of the bank’s stock worth $328,000 after acquiring an additional 1,172 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new position in Preferred Bank during the second quarter worth about $369,000. 80.12% of the stock is owned by hedge funds and other institutional investors.

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

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