Preferred Bank (PFBC) to Post Q3 2017 Earnings of $0.86 Per Share, FBR & Co Forecasts
Preferred Bank (NASDAQ:PFBC) – Research analysts at FBR & Co dropped their Q3 2017 earnings per share estimates for Preferred Bank in a research report issued on Tuesday. FBR & Co analyst S. Moss now anticipates that the bank will post earnings of $0.86 per share for the quarter, down from their previous estimate of $0.87. FBR & Co currently has a “Buy” rating on the stock.
Other research analysts also recently issued reports about the stock. BidaskClub raised shares of Preferred Bank from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Zacks Investment Research downgraded shares of Preferred Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. Finally, Stephens raised shares of Preferred Bank from an “equal weight” rating to an “overweight” rating in a research report on Monday, July 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $65.00.
Shares of Preferred Bank (NASDAQ PFBC) opened at 59.36 on Thursday. Preferred Bank has a 12 month low of $34.31 and a 12 month high of $60.99. The company’s 50-day moving average is $55.43 and its 200-day moving average is $53.64. The firm has a market cap of $852.94 million, a price-to-earnings ratio of 20.38 and a beta of 0.94.
Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings results on Tuesday, July 18th. The bank reported $0.80 EPS for the quarter, beating the consensus estimate of $0.75 by $0.05. The business had revenue of $32.55 million for the quarter, compared to analyst estimates of $31.78 million. Preferred Bank had a net margin of 28.91% and a return on equity of 14.05%.
Institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE increased its position 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 worth $183,000 after acquiring an additional 431 shares in the last quarter. SG Americas Securities LLC increased its position in shares of 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 acquiring an additional 1,732 shares in the last quarter. UBS Asset Management Americas Inc. purchased a new position in shares of Preferred Bank in the first quarter worth approximately $207,000. Sheaff Brock Investment Advisors LLC purchased a new position in shares of Preferred Bank in the second quarter worth approximately $220,000. Finally, Eqis Capital Management Inc. increased its position in shares of Preferred Bank by 9.4% in the second quarter. Eqis Capital Management Inc. now owns 4,486 shares of the bank’s stock worth $240,000 after acquiring an additional 385 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, October 6th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Thursday, October 5th. Preferred Bank’s dividend payout ratio (DPR) is currently 27.49%.
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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