$42.84 Million in Sales Expected for Preferred Bank (NASDAQ:PFBC) This Quarter

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Equities research analysts expect Preferred Bank (NASDAQ:PFBC) to report sales of $42.84 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Preferred Bank’s earnings, with the highest sales estimate coming in at $43.10 million and the lowest estimate coming in at $42.42 million. Preferred Bank reported sales of $45.85 million during the same quarter last year, which would suggest a negative year over year growth rate of 6.6%. The business is expected to issue its next quarterly earnings results on Thursday, January 16th.

On average, analysts expect that Preferred Bank will report full-year sales of $172.24 million for the current fiscal year, with estimates ranging from $171.70 million to $172.80 million. For the next fiscal year, analysts anticipate that the firm will report sales of $177.32 million, with estimates ranging from $175.50 million to $179.76 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Preferred Bank.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings data on Wednesday, October 16th. The bank reported $1.32 EPS for the quarter, meeting the consensus estimate of $1.32. The firm had revenue of $43.21 million during the quarter, compared to the consensus estimate of $44.22 million. Preferred Bank had a net margin of 32.86% and a return on equity of 17.53%.

Several brokerages have recently commented on PFBC. ValuEngine downgraded shares of Preferred Bank from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. BidaskClub downgraded shares of Preferred Bank from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. Raymond James upped their price objective on shares of Preferred Bank from $55.00 to $56.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Janney Montgomery Scott downgraded shares of Preferred Bank from a “buy” rating to a “neutral” rating in a research note on Thursday, October 17th. Finally, B. Riley downgraded shares of Preferred Bank from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $59.00 to $55.00 in a research note on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Preferred Bank has an average rating of “Hold” and an average target price of $53.00.

Shares of NASDAQ:PFBC traded down $0.53 during midday trading on Friday, hitting $54.62. 59,795 shares of the stock traded hands, compared to its average volume of 65,457. The stock has a market capitalization of $830.01 million, a PE ratio of 11.99 and a beta of 1.17. The business’s 50 day moving average is $53.79 and its two-hundred day moving average is $50.52. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.26. Preferred Bank has a one year low of $39.87 and a one year high of $55.55.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Preferred Bank by 1.5% during the second quarter. BlackRock Inc. now owns 2,117,451 shares of the bank’s stock valued at $100,051,000 after buying an additional 31,589 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Preferred Bank by 0.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,257,583 shares of the bank’s stock valued at $59,421,000 after buying an additional 6,230 shares during the period. Nuveen Asset Management LLC increased its position in shares of Preferred Bank by 10.0% during the second quarter. Nuveen Asset Management LLC now owns 931,544 shares of the bank’s stock valued at $44,016,000 after buying an additional 85,003 shares during the period. Renaissance Technologies LLC increased its position in shares of Preferred Bank by 2.5% during the second quarter. Renaissance Technologies LLC now owns 384,455 shares of the bank’s stock valued at $18,165,000 after buying an additional 9,200 shares during the period. Finally, LSV Asset Management grew its holdings in Preferred Bank by 31.1% in the second quarter. LSV Asset Management now owns 301,602 shares of the bank’s stock worth $14,250,000 after purchasing an additional 71,569 shares during the period. Institutional investors own 77.34% 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 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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Earnings History and Estimates for Preferred Bank (NASDAQ:PFBC)

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