Analysts predict that Preferred Bank (NASDAQ:PFBC) will post sales of $48.96 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Preferred Bank’s earnings. The highest sales estimate is $50.10 million and the lowest is $47.50 million. Preferred Bank reported sales of $43.61 million in the same quarter last year, which would suggest a positive year over year growth rate of 12.3%. The firm is expected to issue its next earnings report on Tuesday, July 20th.
On average, analysts expect that Preferred Bank will report full-year sales of $196.14 million for the current financial year, with estimates ranging from $190.80 million to $199.54 million. For the next year, analysts expect that the firm will report sales of $211.78 million, with estimates ranging from $202.20 million to $218.01 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Preferred Bank.
Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings data on Monday, April 19th. The bank reported $1.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.06. The company had revenue of $46.69 million for the quarter, compared to analyst estimates of $47.01 million. Preferred Bank had a return on equity of 14.49% and a net margin of 34.42%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFBC. Boston Partners acquired a new stake in shares of Preferred Bank in the 1st quarter valued at $18,416,000. BlackRock Inc. grew its stake in shares of Preferred Bank by 7.7% during the fourth quarter. BlackRock Inc. now owns 2,198,028 shares of the bank’s stock worth $110,935,000 after purchasing an additional 156,385 shares during the period. Philadelphia Financial Management of San Francisco LLC grew its stake in shares of Preferred Bank by 161.0% during the first quarter. Philadelphia Financial Management of San Francisco LLC now owns 142,553 shares of the bank’s stock worth $9,078,000 after purchasing an additional 87,934 shares during the period. Stieven Capital Advisors L.P. grew its stake in shares of Preferred Bank by 46.7% during the first quarter. Stieven Capital Advisors L.P. now owns 265,897 shares of the bank’s stock worth $16,932,000 after purchasing an additional 84,595 shares during the period. Finally, Roubaix Capital LLC acquired a new stake in shares of Preferred Bank during the fourth quarter worth $2,421,000. 74.97% of the stock is owned by institutional investors.
Shares of PFBC opened at $67.03 on Friday. The company has a fifty day simple moving average of $66.93. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.18. Preferred Bank has a 52-week low of $30.65 and a 52-week high of $69.44. The company has a market cap of $1.01 billion, a P/E ratio of 13.41 and a beta of 1.54.
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 21st. Stockholders of record on Wednesday, April 7th were paid a $0.38 dividend. This is a boost from Preferred Bank’s previous quarterly dividend of $0.30. This represents a $1.52 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Tuesday, April 6th. Preferred Bank’s dividend payout ratio (DPR) is 32.69%.
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 accepts 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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