Preferred Bank (PFBC) Scheduled to Post Quarterly Earnings on Wednesday
Preferred Bank (NASDAQ:PFBC) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, October 19th. Analysts expect the company to announce earnings of $0.62 per share for the quarter.
Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.03. Preferred Bank had a net margin of 28.55% and a return on equity of 11.83%. On average, analysts expect Preferred Bank to post $2.45 EPS for the current fiscal year and $2.75 EPS for the next fiscal year.
Preferred Bank (NASDAQ:PFBC) opened at 34.55 on Tuesday. Preferred Bank has a 12-month low of $26.35 and a 12-month high of $36.82. The company has a market cap of $479.80 million, a PE ratio of 15.21 and a beta of 0.88. The stock has a 50 day moving average of $35.17 and a 200 day moving average of $32.59.
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The company also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Friday, October 7th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Wednesday, October 5th. Preferred Bank’s payout ratio is 26.32%.
Several equities research analysts recently issued reports on the stock. FBR & Co assumed coverage on shares of Preferred Bank in a report on Friday, July 1st. They issued an “outperform” rating and a $37.00 target price on the stock. Zacks Investment Research cut shares of Preferred Bank from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. Finally, Raymond James Financial Inc. upgraded shares of Preferred Bank from an “outperform” rating to a “strong-buy” rating and set a $15.00 target price on the stock in a report on Thursday, August 25th.
A number of large investors have recently modified their holdings of the company. Teachers Advisors Inc. boosted its position in shares of Preferred Bank by 18.3% in the second quarter. Teachers Advisors Inc. now owns 19,660 shares of the company’s stock valued at $568,000 after buying an additional 3,037 shares in the last quarter. FMR LLC boosted its position in shares of Preferred Bank by 47.5% in the second quarter. FMR LLC now owns 340,530 shares of the company’s stock valued at $9,833,000 after buying an additional 109,630 shares in the last quarter. Deere & Co. boosted its position in shares of Preferred Bank by 14.8% in the second quarter. Deere & Co. now owns 9,301 shares of the company’s stock valued at $269,000 after buying an additional 1,201 shares in the last quarter. American International Group Inc. boosted its position in shares of Preferred Bank by 2.2% in the second quarter. American International Group Inc. now owns 6,990 shares of the company’s stock valued at $202,000 after buying an additional 150 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Preferred Bank by 1.5% in the second quarter. Alliancebernstein L.P. now owns 59,475 shares of the company’s stock valued at $1,717,000 after buying an additional 878 shares in the last quarter. Institutional investors own 60.34% of the company’s stock.
Preferred Bank Company Profile
Preferred Bank is a commercial bank, which offers financial services to individuals and companies in Southern California. 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 individuals.
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