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

Preferred Bank (NASDAQ:PFBC) – Analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Preferred Bank in a research note issued on Thursday, April 25th. DA Davidson analyst G. Tenner forecasts that the bank will post earnings of $2.48 per share 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 Stock Down 1.3 %

Shares of Preferred Bank stock opened at $76.45 on Friday. The company has a quick ratio of 1.07, a current 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 business has a fifty day simple moving average of $73.82 and a 200 day simple moving average of $69.89. The stock has a market cap of $1.10 billion, a PE ratio of 7.38 and a beta of 1.04.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $2.60 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $72.84 million. During the same period in the previous year, the firm earned $2.71 earnings per share.

Preferred Bank Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFBC. BluePath Capital Management LLC bought a new position in Preferred Bank during the third quarter worth about $33,000. Gladius Capital Management LP lifted its holdings in Preferred Bank by 518.1% during the fourth quarter. Gladius Capital Management LP now owns 445 shares of the bank’s stock worth $33,000 after acquiring an additional 373 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in Preferred Bank during the fourth quarter worth about $34,000. AJOVista LLC bought a new position in Preferred Bank during the fourth quarter worth about $101,000. Finally, Everence Capital Management Inc. bought a new position in Preferred Bank during the fourth quarter worth about $213,000. 72.77% of the stock is currently owned by institutional investors.

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