Brokers Set Expectations for Preferred Bank Q4 Earnings

Preferred Bank (NASDAQ:PFBC) – Equities research analysts at DA Davidson issued their Q4 2024 earnings per share estimates for Preferred Bank in a research note issued to investors on Wednesday, October 23rd. DA Davidson analyst G. Tenner forecasts that the bank will earn $2.41 per share for the quarter. The consensus estimate for Preferred Bank’s current full-year earnings is $9.54 per share.

Several other equities research analysts also recently weighed in on PFBC. Piper Sandler increased their price target on Preferred Bank from $88.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Stephens raised their target price on Preferred Bank from $90.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday.

Preferred Bank Stock Up 0.2 %

PFBC stock opened at $84.70 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 1.07. The firm’s fifty day simple moving average is $80.69 and its 200-day simple moving average is $78.33. Preferred Bank has a 12 month low of $58.52 and a 12 month high of $91.67. The company has a market capitalization of $1.22 billion, a P/E ratio of 8.49 and a beta of 0.95.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings results on Monday, October 21st. The bank reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.07. Preferred Bank had a net margin of 26.20% and a return on equity of 19.01%. The company had revenue of $132.88 million for the quarter, compared to the consensus estimate of $68.80 million. During the same quarter in the prior year, the company earned $2.71 EPS.

Preferred Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $2.80 annualized dividend and a yield of 3.31%. Preferred Bank’s dividend payout ratio is presently 28.06%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Copeland Capital Management LLC acquired a new stake in shares of Preferred Bank during the 3rd quarter valued at about $54,000. Point72 DIFC Ltd raised its stake in shares of Preferred Bank by 69.9% during the 2nd quarter. Point72 DIFC Ltd now owns 848 shares of the bank’s stock worth $64,000 after buying an additional 349 shares during the period. CWM LLC lifted its position in shares of Preferred Bank by 96.4% during the 2nd quarter. CWM LLC now owns 1,043 shares of the bank’s stock valued at $79,000 after buying an additional 512 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Preferred Bank by 35.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,486 shares of the bank’s stock valued at $112,000 after acquiring an additional 386 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Preferred Bank in the 1st quarter worth $118,000. Institutional investors and hedge funds own 72.77% of the company’s stock.

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. The company accepts checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.