Preferred Bank (NASDAQ:PFBC) – Equities researchers at B. Riley lowered their FY2019 EPS estimates for shares of Preferred Bank in a report issued on Wednesday, April 10th. B. Riley analyst S. Moss now expects that the bank will earn $5.20 per share for the year, down from their prior estimate of $5.25. B. Riley also issued estimates for Preferred Bank’s Q4 2019 earnings at $1.37 EPS, Q1 2020 earnings at $1.35 EPS, Q2 2020 earnings at $1.39 EPS, Q3 2020 earnings at $1.48 EPS, Q4 2020 earnings at $1.52 EPS and FY2020 earnings at $5.75 EPS.
Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings results on Thursday, January 17th. The bank reported $1.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.24 by ($0.11). Preferred Bank had a net margin of 34.70% and a return on equity of 17.69%. The company had revenue of $45.85 million for the quarter, compared to analyst estimates of $42.11 million.
PFBC has been the topic of several other reports. Zacks Investment Research raised shares of Preferred Bank from a “sell” rating to a “hold” rating in a report on Thursday, January 10th. Stephens reaffirmed a “hold” rating and set a $51.00 price objective on shares of Preferred Bank in a report on Tuesday, January 22nd. FIG Partners reaffirmed an “outperform” rating on shares of Preferred Bank in a report on Friday. Finally, BidaskClub raised shares of Preferred Bank from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $61.50.
Shares of Preferred Bank stock opened at $46.34 on Monday. The company has a market cap of $708.55 million, a price-to-earnings ratio of 10.12, a P/E/G ratio of 0.90 and a beta of 1.15. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. Preferred Bank has a 12-month low of $39.87 and a 12-month high of $69.48.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Friday, April 5th. This is a positive change from Preferred Bank’s previous quarterly dividend of $0.12. Preferred Bank’s dividend payout ratio (DPR) is 26.37%.
A number of hedge funds have recently made changes to their positions in the business. Capital Impact Advisors LLC boosted its stake in shares of Preferred Bank by 13.1% in the fourth quarter. Capital Impact Advisors LLC now owns 33,915 shares of the bank’s stock valued at $1,473,000 after purchasing an additional 3,917 shares during the period. Oregon Public Employees Retirement Fund acquired a new stake in Preferred Bank during the fourth quarter worth approximately $230,000. Martingale Asset Management L P raised its holdings in Preferred Bank by 246.9% during the third quarter. Martingale Asset Management L P now owns 25,712 shares of the bank’s stock worth $1,505,000 after purchasing an additional 18,301 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Preferred Bank by 11.0% during the third quarter. Wells Fargo & Company MN now owns 48,364 shares of the bank’s stock worth $2,830,000 after purchasing an additional 4,778 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Preferred Bank by 18.6% in the 4th quarter. New York State Common Retirement Fund now owns 34,202 shares of the bank’s stock valued at $1,483,000 after acquiring an additional 5,364 shares during the period. 90.63% of the stock is owned by institutional investors.
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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