Preferred Bank (PFBC) Expected to Announce Quarterly Sales of $37.03 Million

Wall Street brokerages expect that Preferred Bank (NASDAQ:PFBC) will post $37.03 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Preferred Bank’s earnings, with the lowest sales estimate coming in at $36.40 million and the highest estimate coming in at $37.73 million. Preferred Bank posted sales of $30.53 million in the same quarter last year, which would indicate a positive year over year growth rate of 21.3%. The business is scheduled to report its next quarterly earnings report on Wednesday, April 18th.

According to Zacks, analysts expect that Preferred Bank will report full year sales of $37.03 million for the current year, with estimates ranging from $151.80 million to $164.50 million. For the next year, analysts expect that the firm will post sales of $180.22 million per share, with estimates ranging from $167.00 million to $192.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Preferred Bank.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings data on Monday, January 22nd. The bank reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.08. Preferred Bank had a return on equity of 16.69% and a net margin of 26.51%. The business had revenue of $35.78 million for the quarter, compared to analyst estimates of $36.37 million.

A number of research firms have recently weighed in on PFBC. BidaskClub raised Preferred Bank from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. UBS Group raised Preferred Bank from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, January 9th. Raymond James Financial raised Preferred Bank from an “outperform” rating to a “strong-buy” rating and set a $71.00 price objective on the stock in a research report on Tuesday, January 9th. They noted that the move was a valuation call. B. Riley reaffirmed a “buy” rating and set a $76.00 price objective on shares of Preferred Bank in a research report on Wednesday, January 24th. Finally, Sandler O’Neill reaffirmed a “buy” rating and set a $73.00 price objective on shares of Preferred Bank in a research report on Tuesday, January 23rd. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $72.60.

Shares of Preferred Bank (NASDAQ PFBC) opened at $61.95 on Tuesday. Preferred Bank has a 12-month low of $46.88 and a 12-month high of $67.65. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $814.09, a price-to-earnings ratio of 18.00, a PEG ratio of 1.35 and a beta of 0.96.

The firm also recently announced a quarterly dividend, which was paid on Monday, January 22nd. Investors of record on Monday, January 8th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Friday, January 5th. This is a positive change from Preferred Bank’s previous quarterly dividend of $0.20. Preferred Bank’s dividend payout ratio is 29.63%.

Large investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its holdings in Preferred Bank by 80.4% in the third quarter. BNP Paribas Arbitrage SA now owns 2,415 shares of the bank’s stock valued at $146,000 after buying an additional 1,076 shares during the last quarter. Stevens Capital Management LP purchased a new position in Preferred Bank in the third quarter valued at $237,000. Capital Fund Management S.A. purchased a new position in Preferred Bank in the fourth quarter valued at $241,000. First Mercantile Trust Co. purchased a new position in Preferred Bank in the fourth quarter valued at $256,000. Finally, Teacher Retirement System of Texas purchased a new position in Preferred Bank in the fourth quarter valued at $265,000. 80.48% of the stock is currently owned by hedge funds and other institutional investors.

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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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Earnings History and Estimates for Preferred Bank (NASDAQ:PFBC)

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