Preferred Bank (NASDAQ:PFBC) – B. Riley cut their FY2018 earnings per share (EPS) estimates for Preferred Bank in a research note issued to investors on Tuesday, January 8th. B. Riley analyst S. Moss now expects that the bank will earn $4.65 per share for the year, down from their prior estimate of $4.66. B. Riley has a “Buy” rating and a $76.00 price objective on the stock. B. Riley also issued estimates for Preferred Bank’s Q2 2019 earnings at $1.27 EPS, Q3 2019 earnings at $1.32 EPS, Q4 2019 earnings at $1.35 EPS, FY2019 earnings at $5.20 EPS, Q2 2020 earnings at $1.36 EPS, Q3 2020 earnings at $1.41 EPS, Q4 2020 earnings at $1.45 EPS and FY2020 earnings at $5.50 EPS.
Preferred Bank (NASDAQ:PFBC) last issued its earnings results on Wednesday, October 17th. The bank reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.02. The company had revenue of $40.91 million during the quarter, compared to analysts’ expectations of $41.19 million. Preferred Bank had a return on equity of 18.39% and a net margin of 31.74%.
Shares of NASDAQ:PFBC opened at $45.17 on Wednesday. The firm has a market capitalization of $595.17 million, a price-to-earnings ratio of 13.21, a P/E/G ratio of 0.88 and a beta of 1.14. Preferred Bank has a 52-week low of $39.87 and a 52-week high of $69.48.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wakefield Asset Management LLLP purchased a new position in shares of Preferred Bank during the 3rd quarter worth $218,000. Capital Fund Management S.A. purchased a new position in shares of Preferred Bank during the 2nd quarter worth $246,000. CIBC World Markets Inc. purchased a new position in shares of Preferred Bank during the 3rd quarter worth $251,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Preferred Bank during the 3rd quarter worth $252,000. Finally, First Hawaiian Bank purchased a new position in shares of Preferred Bank during the 3rd quarter worth $257,000. Institutional investors and hedge funds own 93.37% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 22nd. Stockholders of record on Tuesday, January 8th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, January 7th. This is a boost from Preferred Bank’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.66%. Preferred Bank’s dividend payout ratio is currently 35.09%.
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, negotiable order of withdrawal, 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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