Preferred Bank Expected to Post Q1 2023 Earnings of $2.60 Per Share (NASDAQ:PFBC)

Preferred Bank (NASDAQ:PFBCGet Rating) – Stock analysts at DA Davidson issued their Q1 2023 earnings per share (EPS) estimates for shares of Preferred Bank in a research report issued to clients and investors on Monday, January 23rd. DA Davidson analyst G. Tenner expects that the bank will post earnings of $2.60 per share for the quarter. DA Davidson has a “Neutral” rating and a $76.00 price objective on the stock. The consensus estimate for Preferred Bank’s current full-year earnings is $9.86 per share. DA Davidson also issued estimates for Preferred Bank’s FY2023 earnings at $9.48 EPS and FY2024 earnings at $8.26 EPS.

Separately, StockNews.com cut shares of Preferred Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, November 22nd.

Preferred Bank Trading Down 0.5 %

Shares of PFBC stock opened at $69.82 on Wednesday. Preferred Bank has a fifty-two week low of $64.10 and a fifty-two week high of $81.97. The firm’s 50 day moving average price is $73.21 and its two-hundred day moving average price is $71.50. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 8.01 and a beta of 1.12. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.24.

Preferred Bank (NASDAQ:PFBCGet Rating) last issued its earnings results on Wednesday, January 18th. The bank reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.14. The business had revenue of $76.92 million during the quarter, compared to analysts’ expectations of $74.13 million. Preferred Bank had a return on equity of 21.42% and a net margin of 42.35%.

Hedge Funds Weigh In On Preferred Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PFBC. US Bancorp DE boosted its holdings in Preferred Bank by 73.5% in the second quarter. US Bancorp DE now owns 536 shares of the bank’s stock valued at $36,000 after purchasing an additional 227 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Preferred Bank by 887.8% during the 1st quarter. Captrust Financial Advisors now owns 484 shares of the bank’s stock valued at $36,000 after buying an additional 435 shares during the last quarter. Private Capital Group LLC increased its stake in shares of Preferred Bank by 44.6% in the second quarter. Private Capital Group LLC now owns 577 shares of the bank’s stock worth $39,000 after buying an additional 178 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Preferred Bank by 55.9% in the third quarter. Lazard Asset Management LLC now owns 669 shares of the bank’s stock valued at $43,000 after acquiring an additional 240 shares in the last quarter. Finally, Point72 Hong Kong Ltd boosted its stake in Preferred Bank by 5,533.3% during the 3rd quarter. Point72 Hong Kong Ltd now owns 845 shares of the bank’s stock valued at $55,000 after acquiring an additional 830 shares during the last quarter. 71.08% of the stock is owned by hedge funds and other institutional investors.

Preferred Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 20th. Investors of record on Friday, January 6th were paid a dividend of $0.55 per share. This is an increase from Preferred Bank’s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, January 5th. This represents a $2.20 annualized dividend and a yield of 3.15%. Preferred Bank’s payout ratio is 25.23%.

About Preferred Bank

(Get Rating)

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.

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