Preferred Bank (NASDAQ:PFBC) – Equities researchers at B. Riley dropped their Q1 2022 earnings per share (EPS) estimates for shares of Preferred Bank in a research report issued to clients and investors on Wednesday, January 12th. B. Riley analyst S. Moss now forecasts that the bank will post earnings of $1.59 per share for the quarter, down from their previous forecast of $1.60. 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 2022 earnings at $1.70 EPS, Q3 2022 earnings at $1.76 EPS, Q4 2022 earnings at $1.86 EPS and FY2022 earnings at $6.90 EPS.
Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings data on Tuesday, October 19th. The bank reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.14. The company had revenue of $50.54 million for the quarter, compared to analyst estimates of $49.76 million. Preferred Bank had a net margin of 41.33% and a return on equity of 16.42%. During the same period in the previous year, the business posted $1.15 earnings per share.
Shares of NASDAQ:PFBC opened at $81.06 on Friday. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 13.47 and a beta of 1.40. The firm’s 50-day simple moving average is $71.03 and its 200-day simple moving average is $66.12. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.26. Preferred Bank has a fifty-two week low of $47.84 and a fifty-two week high of $81.55.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 21st. Investors of record on Friday, January 7th will be issued a dividend of $0.43 per share. The ex-dividend date is Thursday, January 6th. This represents a $1.72 dividend on an annualized basis and a yield of 2.12%. This is an increase from Preferred Bank’s previous quarterly dividend of $0.38. Preferred Bank’s payout ratio is currently 28.57%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG boosted its holdings in Preferred Bank by 2.9% during the third quarter. Deutsche Bank AG now owns 8,621 shares of the bank’s stock worth $575,000 after buying an additional 245 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in Preferred Bank by 1.3% during the third quarter. Two Sigma Advisers LP now owns 24,200 shares of the bank’s stock worth $1,614,000 after buying an additional 300 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in Preferred Bank by 2.0% during the second quarter. Parametric Portfolio Associates LLC now owns 23,117 shares of the bank’s stock worth $1,463,000 after buying an additional 461 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in Preferred Bank by 8.2% during the third quarter. Louisiana State Employees Retirement System now owns 6,600 shares of the bank’s stock worth $440,000 after buying an additional 500 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in Preferred Bank by 8.2% during the second quarter. First Trust Advisors LP now owns 7,884 shares of the bank’s stock worth $499,000 after buying an additional 595 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.
About Preferred Bank
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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