Preferred Bank (PFBC) Expected to Post Quarterly Sales of $31.78 Million
Wall Street brokerages forecast that Preferred Bank (NASDAQ:PFBC) will report $31.78 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Preferred Bank’s earnings, with the lowest sales estimate coming in at $31.3 million and the highest estimate coming in at $32.3 million. Preferred Bank reported sales of $27.4 million in the same quarter last year, which indicates a positive year-over-year growth rate of 16%. The business is expected to issue its next earnings report on Wednesday, July 19th.
According to Zacks, analysts expect that Preferred Bank will report full year sales of $31.78 million for the current fiscal year, with estimates ranging from $126.6 million to $131.8 million. For the next year, analysts forecast that the firm will post sales of $147.2 million per share, with estimates ranging from $139.6 million to $155.6 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Preferred Bank.
Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Wednesday, April 19th. The bank reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. The firm had revenue of $30.53 million during the quarter, compared to analysts’ expectations of $30 million. Preferred Bank had a net margin of 28.23% and a return on equity of 12.83%.
PFBC has been the subject of a number of recent analyst reports. FBR & Co restated a “buy” rating on shares of Preferred Bank in a report on Thursday, April 20th. Stephens initiated coverage on Preferred Bank in a report on Thursday, April 6th. They set an “equal weight” rating for the company.
Several institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can increased its position in shares of Preferred Bank by 122.8% in the first quarter. Bank of Montreal Can now owns 83,131 shares of the bank’s stock worth $4,461,000 after buying an additional 45,827 shares in the last quarter. Allianz Asset Management AG increased its position in shares of Preferred Bank by 42.4% in the fourth quarter. Allianz Asset Management AG now owns 79,742 shares of the bank’s stock worth $4,180,000 after buying an additional 23,745 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Preferred Bank by 66.3% in the fourth quarter. AQR Capital Management LLC now owns 102,303 shares of the bank’s stock worth $5,363,000 after buying an additional 40,796 shares in the last quarter. Systematic Financial Management LP increased its position in shares of Preferred Bank by 174.0% in the fourth quarter. Systematic Financial Management LP now owns 95,230 shares of the bank’s stock worth $4,992,000 after buying an additional 60,480 shares in the last quarter. Finally, Federated Investors Inc. PA increased its position in shares of Preferred Bank by 29.6% in the fourth quarter. Federated Investors Inc. PA now owns 24,009 shares of the bank’s stock worth $1,259,000 after buying an additional 5,488 shares in the last quarter. Institutional investors own 67.61% of the company’s stock.
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Preferred Bank (NASDAQ:PFBC) traded down 1.15% on Friday, hitting $52.66. 27,739 shares of the stock were exchanged. Preferred Bank has a 52-week low of $27.07 and a 52-week high of $58.12. The company has a 50-day moving average price of $52.09 and a 200-day moving average price of $50.50. The firm has a market cap of $753.78 million, a PE ratio of 19.42 and a beta of 1.07.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 21st. Investors of record on Friday, April 7th were issued a dividend of $0.18 per share. The ex-dividend date was Wednesday, April 5th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.35%. Preferred Bank’s dividend payout ratio is presently 28.02%.
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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