Analysts expect that Preferred Bank (NASDAQ:PFBC) will announce sales of $44.31 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Preferred Bank’s earnings. The lowest sales estimate is $43.92 million and the highest is $44.90 million. Preferred Bank reported sales of $40.91 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.3%. The firm is expected to report its next quarterly earnings results on Wednesday, October 16th.
According to Zacks, analysts expect that Preferred Bank will report full year sales of $174.88 million for the current year, with estimates ranging from $173.30 million to $176.40 million. For the next fiscal year, analysts forecast that the firm will report sales of $186.71 million, with estimates ranging from $182.60 million to $192.40 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Preferred Bank.
Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings results on Wednesday, July 17th. The bank reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.03. The business had revenue of $43.83 million for the quarter, compared to the consensus estimate of $43.82 million. Preferred Bank had a return on equity of 17.73% and a net margin of 33.21%.
Shares of PFBC traded up $0.78 during mid-day trading on Monday, reaching $51.71. The company had a trading volume of 76,946 shares, compared to its average volume of 70,371. Preferred Bank has a 52-week low of $39.87 and a 52-week high of $66.42. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $766.50 million, a PE ratio of 11.36, a P/E/G ratio of 0.99 and a beta of 1.20. The company has a 50 day moving average price of $47.46.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be paid a $0.30 dividend. The ex-dividend date is Friday, July 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.32%. Preferred Bank’s payout ratio is 26.37%.
Several institutional investors and hedge funds have recently modified their holdings of the company. Capital Impact Advisors LLC boosted its position in shares of Preferred Bank by 14.7% during the second quarter. Capital Impact Advisors LLC now owns 38,895 shares of the bank’s stock worth $1,850,000 after buying an additional 4,980 shares during the period. First Hawaiian Bank boosted its position in shares of Preferred Bank by 40.1% during the second quarter. First Hawaiian Bank now owns 6,150 shares of the bank’s stock worth $291,000 after buying an additional 1,760 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of Preferred Bank during the second quarter worth $205,000. Marshall Wace LLP boosted its holdings in Preferred Bank by 13.1% in the first quarter. Marshall Wace LLP now owns 149,053 shares of the bank’s stock valued at $6,703,000 after purchasing an additional 17,228 shares during the period. Finally, Palouse Capital Management Inc. boosted its holdings in Preferred Bank by 23.6% in the first quarter. Palouse Capital Management Inc. now owns 6,192 shares of the bank’s stock valued at $278,000 after purchasing an additional 1,183 shares during the period. Hedge funds and other institutional investors own 77.52% of the company’s stock.
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.
Read More: Why are gap-down stocks important?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Preferred Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Preferred Bank and related companies with MarketBeat.com's FREE daily email newsletter.