Wall Street brokerages forecast that Preferred Bank (NASDAQ:PFBC) will post $43.55 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Preferred Bank’s earnings. The lowest sales estimate is $43.20 million and the highest is $44.00 million. Preferred Bank posted 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 firm is scheduled to report 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 year, with estimates ranging from $162.72 million to $178.00 million. For the next financial year, analysts forecast that the firm will post 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 research analysts that cover Preferred Bank.
Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.06. The business had revenue of $43.46 million for the quarter, compared to analysts’ expectations of $41.46 million. Preferred Bank had a return on equity of 16.34% and a net margin of 32.33%.
Several hedge funds have recently bought and sold shares of PFBC. Russell Investments Group Ltd. lifted its position in shares of Preferred Bank by 85.8% during the 4th quarter. Russell Investments Group Ltd. now owns 18,307 shares of the bank’s stock valued at $1,099,000 after acquiring an additional 8,453 shares during the period. US Bancorp DE increased its stake in shares of Preferred Bank by 32.4% during the 4th quarter. US Bancorp DE now owns 4,441 shares of the bank’s stock worth $267,000 after purchasing an additional 1,088 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Preferred Bank by 24.6% during the 4th quarter. Victory Capital Management Inc. now owns 48,884 shares of the bank’s stock worth $2,938,000 after purchasing an additional 9,639 shares in the last quarter. Swiss National Bank increased its stake in shares of Preferred Bank by 2.5% during the 4th quarter. Swiss National Bank now owns 29,189 shares of the bank’s stock worth $1,754,000 after purchasing an additional 700 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of Preferred Bank by 64.7% during the 4th quarter. Acadian Asset Management LLC now owns 34,436 shares of the bank’s stock worth $2,069,000 after purchasing an additional 13,523 shares in the last quarter. Institutional investors own 77.99% of the company’s stock.
Shares of NASDAQ PFBC traded down $0.65 during mid-day trading on Monday, hitting $39.03. The company had a trading volume of 251,387 shares, compared to its average volume of 77,053. The company has a market capitalization of $597.18 million, a PE ratio of 7.90 and a beta of 1.45. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.06 and a quick ratio of 1.06. Preferred Bank has a 1-year low of $20.04 and a 1-year high of $64.50. The business’s 50-day simple moving average is $38.06 and its 200 day simple moving average is $46.65.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th will be given a $0.30 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.20 dividend on an annualized basis and a yield of 3.07%. Preferred Bank’s payout ratio is currently 22.94%.
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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