Preferred Bank (NASDAQ:PFBC) – Analysts at B. Riley decreased their Q3 2019 earnings estimates for Preferred Bank in a report issued on Thursday, July 11th. B. Riley analyst S. Moss now forecasts that the bank will post earnings per share of $1.28 for the quarter, down from their prior estimate of $1.33. B. Riley has a “Buy” rating and a $59.00 price target on the stock. B. Riley also issued estimates for Preferred Bank’s Q1 2020 earnings at $1.26 EPS.
Several other equities analysts have also recently issued reports on PFBC. ValuEngine upgraded shares of Zogenix from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 27th. DA Davidson decreased their price target on shares of Skyworks Solutions to $95.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. FIG Partners restated an “outperform” rating on shares of RBB Bancorp in a research report on Friday, April 12th. Zacks Investment Research upgraded shares of DLH from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Finally, Raymond James restated a “buy” rating on shares of West Fraser Timber in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $53.40.
Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results 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 net margin of 33.75% and a return on equity of 17.82%. The firm had revenue of $42.77 million during the quarter, compared to analysts’ expectations of $42.96 million.
Institutional investors and hedge funds have recently bought and sold shares of the company. Quantamental Technologies LLC acquired a new stake in shares of Preferred Bank during the first quarter worth $31,000. BNP Paribas Arbitrage SA increased its position in shares of Preferred Bank by 72,425.0% during the first quarter. BNP Paribas Arbitrage SA now owns 2,901 shares of the bank’s stock worth $130,000 after buying an additional 2,897 shares during the period. Convergence Investment Partners LLC acquired a new stake in shares of Preferred Bank during the first quarter worth $139,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Preferred Bank during the second quarter worth $205,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Preferred Bank during the first quarter worth $199,000. Institutional investors own 77.39% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Friday, July 5th. Preferred Bank’s dividend payout ratio (DPR) is presently 26.37%.
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'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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