DA Davidson Expects Increased Earnings for Preferred Bank

Preferred Bank (NASDAQ:PFBC) – Analysts at DA Davidson upped their FY2024 earnings per share (EPS) estimates for Preferred Bank in a research note issued to investors on Wednesday, October 23rd. DA Davidson analyst G. Tenner now expects that the bank will post earnings of $9.80 per share for the year, up from their previous forecast of $9.54. The consensus estimate for Preferred Bank’s current full-year earnings is $9.54 per share. DA Davidson also issued estimates for Preferred Bank’s FY2025 earnings at $8.75 EPS.

Other equities analysts have also recently issued research reports about the stock. Piper Sandler raised their price target on shares of Preferred Bank from $88.00 to $105.00 and gave the company 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 company an “overweight” rating in a report on Tuesday, October 22nd.

Preferred Bank Stock Down 3.1 %

Shares of NASDAQ PFBC opened at $82.04 on Friday. 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 company has a 50-day moving average price of $80.75 and a 200-day moving average price of $78.40. The stock has a market capitalization of $1.18 billion, a P/E ratio of 8.22 and a beta of 0.95. Preferred Bank has a 1 year low of $58.52 and a 1 year high of $91.67.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Monday, October 21st. The bank reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.39 by $0.07. Preferred Bank had a net margin of 26.20% and a return on equity of 19.01%. The business had revenue of $132.88 million during the quarter, compared to analyst estimates of $68.80 million. During the same quarter in the previous year, the business posted $2.71 EPS.

Preferred Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were paid a $0.70 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $2.80 annualized dividend and a yield of 3.41%. Preferred Bank’s dividend payout ratio (DPR) is 28.06%.

Hedge Funds Weigh In On Preferred Bank

Several hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in Preferred Bank by 2.7% during the first quarter. Principal Financial Group Inc. now owns 73,319 shares of the bank’s stock worth $5,629,000 after acquiring an additional 1,927 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Preferred Bank during the 1st quarter worth $786,000. BNP Paribas Financial Markets boosted its holdings in shares of Preferred Bank by 78.3% in the 1st quarter. BNP Paribas Financial Markets now owns 15,564 shares of the bank’s stock worth $1,195,000 after buying an additional 6,833 shares during the last quarter. GSA Capital Partners LLP grew its position in Preferred Bank by 16.5% during the first quarter. GSA Capital Partners LLP now owns 23,556 shares of the bank’s stock valued at $1,808,000 after buying an additional 3,331 shares during the period. Finally, Texas Permanent School Fund Corp increased its holdings in Preferred Bank by 1.6% during the first quarter. Texas Permanent School Fund Corp now owns 10,964 shares of the bank’s stock worth $842,000 after buying an additional 169 shares during the last quarter. Institutional investors own 72.77% of the company’s stock.

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. 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.