Preferred Bank (NASDAQ:PFBC) – Investment analysts at B. Riley decreased their Q1 2019 earnings estimates for Preferred Bank in a report issued on Wednesday, April 10th, according to Zacks Investment Research. B. Riley analyst S. Moss now forecasts that the bank will post earnings of $1.16 per share for the quarter, down from their previous estimate of $1.22. B. Riley also issued estimates for Preferred Bank’s Q2 2019 earnings at $1.30 EPS.
Other research analysts have also issued research reports about the company. Zacks Investment Research raised Preferred Bank from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Wednesday, March 27th. BidaskClub raised Preferred Bank from a “sell” rating to a “hold” rating in a research report on Wednesday. Stephens reissued a “hold” rating and issued a $51.00 target price on shares of Preferred Bank in a report on Tuesday, January 22nd. FIG Partners reissued an “outperform” rating on shares of Preferred Bank in a report on Friday, April 12th. Finally, Raymond James dropped their target price on Preferred Bank from $60.00 to $58.00 and set a “strong-buy” rating on the stock in a report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $58.00.
Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings results on Wednesday, April 17th. The bank reported $1.30 EPS for the quarter, topping the consensus estimate of $1.24 by $0.06. The company had revenue of $42.77 million for the quarter, compared to analyst estimates of $42.96 million. Preferred Bank had a return on equity of 17.82% and a net margin of 33.75%.
The business also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.40%. This is a positive change from Preferred Bank’s previous quarterly dividend of $0.12. Preferred Bank’s payout ratio is presently 26.37%.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Preferred Bank by 5.8% in the fourth quarter. BlackRock Inc. now owns 2,166,036 shares of the bank’s stock valued at $93,897,000 after buying an additional 118,199 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Preferred Bank by 31.6% in the third quarter. Vanguard Group Inc. now owns 879,043 shares of the bank’s stock valued at $51,424,000 after buying an additional 210,979 shares in the last quarter. Vanguard Group Inc boosted its stake in shares of Preferred Bank by 31.6% in the third quarter. Vanguard Group Inc now owns 879,043 shares of the bank’s stock valued at $51,424,000 after buying an additional 210,979 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Preferred Bank by 1.8% in the fourth quarter. Nuveen Asset Management LLC now owns 878,323 shares of the bank’s stock valued at $38,075,000 after buying an additional 15,765 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Preferred Bank by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 613,310 shares of the bank’s stock valued at $26,587,000 after buying an additional 24,728 shares in the last quarter. 79.37% of the stock is currently owned by institutional investors and hedge funds.
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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