Equities Analysts Offer Predictions for Preferred Bank’s Q2 2022 Earnings (NASDAQ:PFBC)

Preferred Bank (NASDAQ:PFBC – Get Rating) – Stock analysts at DA Davidson issued their Q2 2022 EPS estimates for shares of Preferred Bank in a research note issued on Friday, April 22nd. DA Davidson analyst G. Tenner expects that the bank will earn $1.72 per share for the quarter. DA Davidson also issued estimates for Preferred Bank’s FY2022 earnings at $7.37 EPS.

Preferred Bank (NASDAQ:PFBC – Get Rating) last posted its quarterly earnings results on Tuesday, April 19th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.05. Preferred Bank had a return on equity of 17.38% and a net margin of 44.96%. During the same quarter last year, the business posted $1.42 EPS.

A number of other equities research analysts have also weighed in on PFBC. StockNews.com assumed coverage on Preferred Bank in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Piper Sandler lifted their price objective on Preferred Bank from $85.00 to $94.00 and gave the stock an “overweight” rating in a research report on Monday, January 24th. Zacks Investment Research upgraded Preferred Bank from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research report on Thursday, January 20th. Janney Montgomery Scott upgraded Preferred Bank from a “neutral” rating to a “buy” rating and set a $95.00 price objective on the stock in a research report on Wednesday, February 16th. Finally, B. Riley cut their price objective on Preferred Bank from $100.00 to $95.00 in a research report on Tuesday, April 12th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $89.67.

PFBC opened at $71.05 on Monday. The stock’s 50 day simple moving average is $74.95 and its 200 day simple moving average is $73.28. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.04 and a quick ratio of 1.04. Preferred Bank has a 1 year low of $57.27 and a 1 year high of $81.97. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 10.54 and a beta of 1.27.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 21st. Shareholders of record on Thursday, April 7th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Wednesday, April 6th. Preferred Bank’s payout ratio is 25.52%.

Several hedge funds have recently bought and sold shares of PFBC. Private Capital Group LLC purchased a new position in shares of Preferred Bank in the first quarter worth $30,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Preferred Bank in the third quarter worth $60,000. Nisa Investment Advisors LLC bought a new stake in shares of Preferred Bank in the fourth quarter worth $62,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Preferred Bank by 66.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,982 shares of the bank’s stock worth $147,000 after acquiring an additional 789 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in shares of Preferred Bank in the fourth quarter worth $206,000. Hedge funds and other institutional investors own 72.86% of the company’s stock.

Preferred Bank Company Profile (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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