FBR & Co Comments on Preferred Bank’s FY2017 Earnings (PFBC)
Preferred Bank (NASDAQ:PFBC) – Research analysts at FBR & Co upped their FY2017 earnings per share estimates for shares of Preferred Bank in a research note issued on Thursday. FBR & Co analyst S. Moss now forecasts that the bank will earn $3.35 per share for the year, up from their previous estimate of $3.26. FBR & Co currently has a “Buy” rating and a $70.00 target price on the stock. FBR & Co also issued estimates for Preferred Bank’s Q4 2017 earnings at $0.90 EPS, Q3 2018 earnings at $1.00 EPS, Q4 2018 earnings at $1.06 EPS, FY2018 earnings at $3.90 EPS, Q1 2019 earnings at $1.08 EPS, Q2 2019 earnings at $1.14 EPS, Q3 2019 earnings at $1.19 EPS and FY2019 earnings at $4.65 EPS.
Several other equities analysts have also recently issued reports on PFBC. Zacks Investment Research raised shares of Preferred Bank from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a research note on Saturday. BidaskClub cut shares of Preferred Bank from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, Stephens raised shares of Preferred Bank from an “equal weight” rating to an “overweight” rating in a research note on Monday, July 10th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Preferred Bank presently has an average rating of “Buy” and an average target price of $71.50.
Shares of Preferred Bank (NASDAQ PFBC) opened at 64.40 on Monday. Preferred Bank has a one year low of $36.02 and a one year high of $66.58. The stock has a market cap of $925.36 million, a P/E ratio of 22.12 and a beta of 0.94. The firm has a 50 day moving average of $57.61 and a 200 day moving average of $54.34.
Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Tuesday, October 24th. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.09. Preferred Bank had a net margin of 29.33% and a return on equity of 15.22%. The company had revenue of $36.67 million for the quarter, compared to the consensus estimate of $34.68 million.
Several institutional investors have recently added to or reduced their stakes in PFBC. Bank of New York Mellon Corp increased its position in shares of Preferred Bank by 39.3% in the first quarter. Bank of New York Mellon Corp now owns 133,682 shares of the bank’s stock worth $7,173,000 after acquiring an additional 37,724 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. Karp Capital Management Corp purchased a new position in shares of Preferred Bank in the first quarter worth approximately $270,000. 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. Finally, American International Group Inc. increased its position in shares of Preferred Bank by 7.1% in the first quarter. American International Group Inc. now owns 7,480 shares of the bank’s stock worth $401,000 after acquiring an additional 499 shares in the last quarter. 78.70% of the stock is currently owned by institutional investors and hedge funds.
The company also recently announced a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, October 6th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Thursday, October 5th. Preferred Bank’s dividend payout ratio (DPR) is currently 25.32%.
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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