Preferred Bank Expected to Earn Q2 2024 Earnings of $2.48 Per Share (NASDAQ:PFBC)

Preferred Bank (NASDAQ:PFBC) – Investment analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Preferred Bank in a research report issued on Thursday, April 25th. DA Davidson analyst G. Tenner anticipates that the bank will post earnings per share of $2.48 for the quarter. The consensus estimate for Preferred Bank’s current full-year earnings is $9.33 per share. DA Davidson also issued estimates for Preferred Bank’s FY2025 earnings at $8.63 EPS.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.06. Preferred Bank had a return on equity of 21.28% and a net margin of 28.70%. The business had revenue of $127.07 million for the quarter, compared to analyst estimates of $72.84 million. During the same quarter last year, the company earned $2.71 earnings per share.

Preferred Bank Stock Down 1.3 %

Shares of NASDAQ:PFBC opened at $76.45 on Friday. The stock’s 50-day moving average price is $73.82 and its two-hundred day moving average price is $69.89. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. Preferred Bank has a 12-month low of $42.42 and a 12-month high of $79.08. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 7.38 and a beta of 1.04.

Preferred Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Thursday, April 4th. Preferred Bank’s payout ratio is 27.03%.

Institutional Trading of Preferred Bank

A number of hedge funds have recently added to or reduced their stakes in the business. Quadrature Capital Ltd boosted its stake in Preferred Bank by 96.7% in the 4th quarter. Quadrature Capital Ltd now owns 16,959 shares of the bank’s stock worth $1,236,000 after buying an additional 8,338 shares during the last quarter. Rafferty Asset Management LLC lifted its stake in shares of Preferred Bank by 50.7% in the 4th quarter. Rafferty Asset Management LLC now owns 20,354 shares of the bank’s stock valued at $1,487,000 after purchasing an additional 6,850 shares in the last quarter. Olympiad Research LP acquired a new position in shares of Preferred Bank in the 4th quarter valued at about $240,000. Quest Partners LLC acquired a new position in shares of Preferred Bank in the 4th quarter valued at about $402,000. Finally, Trexquant Investment LP acquired a new position in shares of Preferred Bank in the 4th quarter valued at about $942,000. 72.77% of the stock is owned by institutional investors and hedge funds.

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