Analysts Expect Preferred Bank (NASDAQ:PFBC) Will Announce Earnings of $1.32 Per Share

Analysts forecast that Preferred Bank (NASDAQ:PFBC) will announce $1.32 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Preferred Bank’s earnings. The lowest EPS estimate is $1.30 and the highest is $1.36. Preferred Bank posted earnings of $1.20 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 10%. The company is expected to issue its next earnings report on Wednesday, October 16th.

On average, analysts expect that Preferred Bank will report full-year earnings of $5.16 per share for the current fiscal year, with EPS estimates ranging from $5.12 to $5.24. For the next fiscal year, analysts expect that the company will post earnings of $5.40 per share, with EPS estimates ranging from $5.21 to $5.57. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Preferred Bank.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Wednesday, July 17th. The bank reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.03. Preferred Bank had a net margin of 33.21% and a return on equity of 17.73%. The company had revenue of $43.83 million for the quarter, compared to analysts’ expectations of $43.82 million.

Several equities analysts recently issued reports on PFBC shares. Zacks Investment Research upgraded shares of Preferred Bank from a “sell” rating to a “hold” rating in a research report on Thursday, July 25th. Raymond James reduced their price target on shares of Preferred Bank from $57.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. DA Davidson set a $56.00 price objective on shares of Preferred Bank and gave the stock a “hold” rating in a report on Friday, July 19th. ValuEngine upgraded shares of Preferred Bank from a “strong sell” rating to a “sell” rating in a report on Thursday, June 27th. Finally, BidaskClub upgraded shares of Preferred Bank from a “hold” rating to a “buy” rating in a report on Saturday, August 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $52.80.

Shares of NASDAQ PFBC traded up $0.30 during midday trading on Thursday, hitting $53.65. 1,068 shares of the company traded hands, compared to its average volume of 55,783. Preferred Bank has a 12-month low of $39.87 and a 12-month high of $61.88. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a 50-day moving average price of $50.71 and a 200 day moving average price of $48.38. The firm has a market cap of $809.39 million, a P/E ratio of 11.79, a P/E/G ratio of 1.03 and a beta of 1.20.

A number of institutional investors and hedge funds have recently made changes to their positions in PFBC. Comerica Bank grew its holdings in shares of Preferred Bank by 2.1% during the first quarter. Comerica Bank now owns 13,793 shares of the bank’s stock valued at $652,000 after buying an additional 287 shares during the last quarter. Panagora Asset Management Inc. lifted its position in Preferred Bank by 39.3% during the second quarter. Panagora Asset Management Inc. now owns 1,105 shares of the bank’s stock valued at $52,000 after purchasing an additional 312 shares during the period. Texas Permanent School Fund lifted its position in Preferred Bank by 3.8% during the first quarter. Texas Permanent School Fund now owns 9,469 shares of the bank’s stock valued at $426,000 after purchasing an additional 343 shares during the period. Context BH Capital Management LP lifted its position in Preferred Bank by 0.7% during the first quarter. Context BH Capital Management LP now owns 70,521 shares of the bank’s stock valued at $3,171,000 after purchasing an additional 492 shares during the period. Finally, Affinity Investment Advisors LLC lifted its position in Preferred Bank by 6.9% during the second quarter. Affinity Investment Advisors LLC now owns 8,039 shares of the bank’s stock valued at $380,000 after purchasing an additional 518 shares during the period. Institutional investors and hedge funds own 77.57% of the company’s stock.

About Preferred Bank

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

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