Wall Street analysts expect that Preferred Bank (NASDAQ:PFBC) will announce sales of $43.55 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Preferred Bank’s earnings, with the lowest sales estimate coming in at $43.20 million and the highest estimate coming in at $44.00 million. Preferred Bank reported sales of $43.83 million in the same quarter last year, which would suggest a negative year over year growth rate of 0.6%. The company is expected to announce its next quarterly earnings results on Wednesday, July 15th.
According to Zacks, analysts expect that Preferred Bank will report full-year sales of $173.80 million for the current financial year, with estimates ranging from $162.72 million to $178.00 million. For the next year, analysts anticipate that the business will report sales of $182.07 million, with estimates ranging from $172.04 million to $189.23 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Preferred Bank.
Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Wednesday, April 22nd. The bank reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.06. Preferred Bank had a net margin of 32.33% and a return on equity of 16.34%. The company had revenue of $43.46 million for the quarter, compared to analyst estimates of $41.46 million.
Shares of PFBC traded down $0.65 during mid-day trading on Monday, hitting $39.03. 251,387 shares of the company’s stock were exchanged, compared to its average volume of 77,053. The firm has a fifty day moving average of $38.06 and a two-hundred day moving average of $46.65. Preferred Bank has a twelve month low of $20.04 and a twelve month high of $64.50. The stock has a market cap of $597.18 million, a price-to-earnings ratio of 7.90 and a beta of 1.45. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.25.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Monday, July 6th. Preferred Bank’s dividend payout ratio (DPR) is presently 22.94%.
A number of institutional investors have recently modified their holdings of PFBC. Principal Financial Group Inc. boosted its holdings in Preferred Bank by 67.2% in the 1st quarter. Principal Financial Group Inc. now owns 580,529 shares of the bank’s stock valued at $19,633,000 after purchasing an additional 233,299 shares during the period. Invesco Ltd. lifted its holdings in shares of Preferred Bank by 279.8% during the 1st quarter. Invesco Ltd. now owns 291,445 shares of the bank’s stock worth $9,856,000 after acquiring an additional 214,702 shares during the period. Matarin Capital Management LLC bought a new position in shares of Preferred Bank during the 1st quarter worth about $5,159,000. Bank of Montreal Can lifted its holdings in shares of Preferred Bank by 90.8% during the 4th quarter. Bank of Montreal Can now owns 113,987 shares of the bank’s stock worth $6,850,000 after acquiring an additional 54,254 shares during the period. Finally, FMR LLC lifted its holdings in shares of Preferred Bank by 57.4% during the 4th quarter. FMR LLC now owns 135,667 shares of the bank’s stock worth $8,152,000 after acquiring an additional 49,472 shares during the period. 77.99% of the stock is owned by hedge funds and other institutional investors.
Preferred Bank Company Profile
Preferred Bank provides various commercial banking products and services to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals, and high net worth individuals in the United States. The company's deposit products include checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.
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