FIG Partners Weighs in on Preferred Bank’s Q3 2017 Earnings (PFBC)
Preferred Bank (NASDAQ:PFBC) – FIG Partners lifted their Q3 2017 earnings estimates for Preferred Bank in a research note issued to investors on Wednesday. FIG Partners analyst T. Coffey now anticipates that the bank will post earnings of $0.93 per share for the quarter, up from their prior estimate of $0.80. FIG Partners also issued estimates for Preferred Bank’s Q4 2017 earnings at $0.96 EPS, FY2017 earnings at $3.40 EPS, Q1 2018 earnings at $0.98 EPS, Q2 2018 earnings at $1.01 EPS, Q3 2018 earnings at $1.03 EPS and Q4 2018 earnings at $1.05 EPS.
Preferred Bank (NASDAQ:PFBC) last announced its earnings results on Tuesday, July 18th. The bank reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.05. The business had revenue of $32.55 million during the quarter, compared to the consensus estimate of $31.78 million. Preferred Bank had a net margin of 28.91% and a return on equity of 14.18%.
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Several other equities research analysts also recently issued reports on PFBC. BidaskClub upgraded shares of Preferred Bank from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. FBR & Co restated a “buy” rating on shares of Preferred Bank in a research note on Wednesday. Stephens upgraded shares of Preferred Bank from an “equal weight” rating to an “overweight” rating in a research note on Monday, July 10th. Zacks Investment Research upgraded shares of Preferred Bank from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Saturday, June 24th. Finally, ValuEngine upgraded shares of Preferred Bank from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Preferred Bank presently has a consensus rating of “Buy” and an average price target of $45.33.
Preferred Bank (NASDAQ:PFBC) opened at 58.38 on Thursday. Preferred Bank has a 52 week low of $31.25 and a 52 week high of $58.49. The stock has a market capitalization of $836.59 million, a P/E ratio of 21.49 and a beta of 0.96. The stock has a 50 day moving average of $52.73 and a 200 day moving average of $53.19.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 21st. Stockholders of record on Friday, July 7th will be paid a $0.20 dividend. This is an increase from Preferred Bank’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $0.80 annualized dividend and a dividend yield of 1.37%. Preferred Bank’s dividend payout ratio (DPR) is presently 27.49%.
Several large investors have recently made changes to their positions in PFBC. US Bancorp DE increased its stake in shares of Preferred Bank by 14.5% in the first quarter. US Bancorp DE now owns 3,402 shares of the bank’s stock valued at $183,000 after buying an additional 431 shares during the last quarter. SG Americas Securities LLC increased its stake in Preferred Bank by 86.9% in the first quarter. SG Americas Securities LLC now owns 3,726 shares of the bank’s stock worth $200,000 after buying an additional 1,732 shares in the last quarter. UBS Asset Management Americas Inc. acquired a new stake in Preferred Bank during the first quarter worth $207,000. Affinity Investment Advisors LLC acquired a new stake in Preferred Bank during the first quarter worth $215,000. Finally, Nine Chapters Capital Management LLC acquired a new stake in Preferred Bank during the first quarter worth $220,000. Institutional investors and hedge funds own 75.67% of the company’s stock.
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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