Preferred Bank (NASDAQ:PFBC) Forecasted to Post Q2 2019 Earnings of $1.27 Per Share

Preferred Bank (NASDAQ:PFBC) – DA Davidson dropped their Q2 2019 earnings per share (EPS) estimates for Preferred Bank in a note issued to investors on Wednesday, June 5th, Zacks Investment Research reports. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings per share of $1.27 for the quarter, down from their previous forecast of $1.28. DA Davidson has a “Neutral” rating and a $52.00 price objective on the stock. DA Davidson also issued estimates for Preferred Bank’s Q4 2019 earnings at $1.30 EPS, FY2019 earnings at $5.18 EPS, Q1 2020 earnings at $1.26 EPS, Q2 2020 earnings at $1.29 EPS, Q3 2020 earnings at $1.36 EPS, Q4 2020 earnings at $1.38 EPS and FY2020 earnings at $5.30 EPS.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings data on Wednesday, April 17th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.06. Preferred Bank had a return on equity of 17.82% and a net margin of 33.75%. The business had revenue of $42.77 million during the quarter, compared to analyst estimates of $42.96 million.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Preferred Bank from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Wednesday, March 27th. BidaskClub upgraded Preferred Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. FIG Partners restated an “outperform” rating on shares of Preferred Bank in a research note on Friday, April 12th. ValuEngine upgraded Preferred Bank from a “strong sell” rating to a “sell” rating in a research note on Thursday. Finally, Raymond James cut their target price on Preferred Bank from $60.00 to $58.00 and set a “strong-buy” rating on the stock in a research note on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $56.80.

Shares of PFBC traded down $0.32 on Thursday, hitting $47.25. The company’s stock had a trading volume of 463,147 shares, compared to its average volume of 57,903. The stock has a market capitalization of $711.11 million, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21. The business has a fifty day moving average of $46.37. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.23. Preferred Bank has a fifty-two week low of $39.87 and a fifty-two week high of $69.48.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Friday, July 5th. Preferred Bank’s dividend payout ratio is currently 26.37%.

Several institutional investors have recently made changes to their positions in PFBC. Quantamental Technologies LLC bought a new stake in shares of Preferred Bank during the 1st quarter worth approximately $31,000. BNP Paribas Arbitrage SA raised its stake in shares of Preferred Bank by 72,425.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,901 shares of the bank’s stock worth $130,000 after purchasing an additional 2,897 shares in the last quarter. Convergence Investment Partners LLC bought a new stake in shares of Preferred Bank during the 1st quarter worth approximately $139,000. SG Americas Securities LLC bought a new stake in shares of Preferred Bank during the 1st quarter worth approximately $199,000. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of Preferred Bank by 319.0% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,710 shares of the bank’s stock worth $204,000 after purchasing an additional 3,586 shares in the last quarter. Institutional investors own 77.48% 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.

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

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