Preferred Bank (NASDAQ:PFBC) – Research analysts at B. Riley raised their Q1 2023 earnings per share estimates for Preferred Bank in a note issued to investors on Wednesday, January 12th. B. Riley analyst S. Moss now expects that the bank will earn $1.81 per share for the quarter, up from their previous estimate of $1.72. B. Riley has a “Buy” rating and a $95.00 price objective on the stock. B. Riley also issued estimates for Preferred Bank’s Q2 2023 earnings at $1.87 EPS, Q3 2023 earnings at $2.04 EPS, Q4 2023 earnings at $2.13 EPS and FY2023 earnings at $7.85 EPS.
Preferred Bank (NASDAQ:PFBC) last announced its earnings results on Tuesday, October 19th. The bank reported $1.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.14. Preferred Bank had a net margin of 41.33% and a return on equity of 16.42%. The business had revenue of $50.54 million for the quarter, compared to the consensus estimate of $49.76 million. During the same quarter in the prior year, the firm posted $1.15 earnings per share.
Shares of PFBC opened at $81.06 on Thursday. The company has a market cap of $1.22 billion, a P/E ratio of 13.47 and a beta of 1.40. Preferred Bank has a twelve month low of $47.84 and a twelve month high of $81.55. The company’s fifty day simple moving average is $71.03 and its 200-day simple moving average is $66.12. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.26.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Preferred Bank by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 894,809 shares of the bank’s stock valued at $56,615,000 after purchasing an additional 21,243 shares during the period. FMR LLC boosted its holdings in shares of Preferred Bank by 3.0% in the 2nd quarter. FMR LLC now owns 878,096 shares of the bank’s stock valued at $55,558,000 after buying an additional 25,305 shares in the last quarter. State Street Corp boosted its holdings in shares of Preferred Bank by 9.4% in the 2nd quarter. State Street Corp now owns 625,524 shares of the bank’s stock valued at $39,577,000 after buying an additional 53,821 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Preferred Bank by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 621,638 shares of the bank’s stock valued at $41,451,000 after buying an additional 4,868 shares in the last quarter. Finally, Stieven Capital Advisors L.P. boosted its holdings in shares of Preferred Bank by 3.2% in the 3rd quarter. Stieven Capital Advisors L.P. now owns 313,697 shares of the bank’s stock valued at $20,917,000 after buying an additional 9,700 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 21st. Shareholders of record on Friday, January 7th will be given a dividend of $0.43 per share. This is an increase from Preferred Bank’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, January 6th. This represents a $1.72 dividend on an annualized basis and a yield of 2.12%. Preferred Bank’s dividend payout ratio (DPR) is 28.57%.
Preferred Bank Company Profile
Preferred Bank operates as an independent commercial bank. It offers real estate financing for residential, commercial, industrial, and other income producing properties. Its business and consumer products include checking, savings, money market, and certificate of deposit accounts. The firm also offers treasury management services such as account reconciliation, remote deposit, cash and check courier services, merchant processing, and ACH credit origination.
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