Zacks: Brokerages Anticipate Preferred Bank (PFBC) Will Announce Quarterly Sales of $42.11 Million

Equities analysts expect Preferred Bank (NASDAQ:PFBC) to post $42.11 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Preferred Bank’s earnings, with the highest sales estimate coming in at $43.13 million and the lowest estimate coming in at $41.40 million. Preferred Bank posted sales of $35.78 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 17.7%. The firm is scheduled to issue its next earnings report on Monday, January 28th.

On average, analysts expect that Preferred Bank will report full year sales of $159.80 million for the current year, with estimates ranging from $158.70 million to $161.08 million. For the next financial year, analysts anticipate that the company will post sales of $179.27 million, with estimates ranging from $174.20 million to $185.58 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Preferred Bank.

Preferred Bank (NASDAQ:PFBC) last announced its earnings results on Wednesday, October 17th. The bank reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.02. The business had revenue of $40.91 million during the quarter, compared to analyst estimates of $41.19 million. Preferred Bank had a net margin of 31.74% and a return on equity of 18.39%.

PFBC has been the topic of a number of recent research reports. BidaskClub downgraded shares of Preferred Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, July 18th. ValuEngine downgraded shares of Preferred Bank from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 27th. B. Riley set a $76.00 price objective on shares of Preferred Bank and gave the company a “buy” rating in a research note on Tuesday, October 30th. Zacks Investment Research downgraded shares of Preferred Bank from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, Raymond James dropped their price objective on shares of Preferred Bank from $77.00 to $72.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 19th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $72.00.

PFBC traded down $0.64 during mid-day trading on Friday, reaching $52.55. 30,400 shares of the company traded hands, compared to its average volume of 112,922. The firm has a market cap of $695.93 million, a PE ratio of 15.37, a P/E/G ratio of 1.13 and a beta of 1.01. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.28. Preferred Bank has a 52-week low of $49.45 and a 52-week high of $69.48.

The company also recently announced a quarterly dividend, which was paid on Friday, October 19th. Shareholders of record on Friday, October 5th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $1.00 annualized dividend and a yield of 1.90%. Preferred Bank’s dividend payout ratio (DPR) is 29.24%.

Institutional investors and hedge funds have recently made changes to their positions in the business. UBS Group AG increased its holdings in shares of Preferred Bank by 653.1% in the 1st quarter. UBS Group AG now owns 2,651 shares of the bank’s stock valued at $170,000 after purchasing an additional 2,299 shares in the last quarter. GAM Holding AG acquired a new position in Preferred Bank in the second quarter worth $241,000. Capital Fund Management S.A. acquired a new position in Preferred Bank in the second quarter worth $246,000. CIBC World Markets Inc. acquired a new position in Preferred Bank in the third quarter worth $251,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in Preferred Bank in the third quarter worth $252,000. Institutional investors own 86.55% 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, 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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Earnings History and Estimates for Preferred Bank (NASDAQ:PFBC)

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