Q1 2023 EPS Estimates for Preferred Bank (NASDAQ:PFBC) Lowered by DA Davidson

Posted by Defense World Staff on Apr 7th, 2023

Preferred Bank (NASDAQ:PFBC – Get Rating) – Research analysts at DA Davidson lowered their Q1 2023 earnings per share (EPS) estimates for Preferred Bank in a research note issued to investors on Wednesday, April 5th. DA Davidson analyst G. Tenner now expects that the bank will earn $2.58 per share for the quarter, down from their prior forecast of $2.60. DA Davidson currently has a “Neutral” rating on the stock. The consensus estimate for Preferred Bank’s current full-year earnings is $9.97 per share. DA Davidson also issued estimates for Preferred Bank’s FY2024 earnings at $8.22 EPS.

Preferred Bank (NASDAQ:PFBC – Get Rating) last announced its quarterly earnings results on Wednesday, January 18th. The bank reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.14. Preferred Bank had a return on equity of 21.40% and a net margin of 42.35%. The company had revenue of $76.92 million during the quarter, compared to analyst estimates of $74.13 million.

PFBC has been the topic of a number of other reports. Stephens restated an “overweight” rating and set a $81.00 price objective on shares of Preferred Bank in a research report on Monday, March 13th. StockNews.com initiated coverage on Preferred Bank in a report on Thursday, March 16th. They issued a “hold” rating on the stock.

Preferred Bank Trading Up 1.9 %

Shares of PFBC stock opened at $53.29 on Thursday. Preferred Bank has a 1 year low of $51.44 and a 1 year high of $77.75. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s 50 day simple moving average is $65.29 and its two-hundred day simple moving average is $69.70. The company has a market cap of $802.01 million, a PE ratio of 6.11 and a beta of 1.05.

Institutional Trading of Preferred Bank

A number of institutional investors have recently made changes to their positions in the business. Captrust Financial Advisors raised 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. Lazard Asset Management LLC increased its stake in shares of Preferred Bank by 55.9% in the 3rd quarter. Lazard Asset Management LLC now owns 669 shares of the bank’s stock valued at $43,000 after purchasing an additional 240 shares in the last quarter. Coppell Advisory Solutions Corp. purchased a new position in shares of Preferred Bank in the 4th quarter valued at about $44,000. Point72 Middle East FZE acquired a new stake in Preferred Bank in the 4th quarter worth about $49,000. Finally, Point72 Hong Kong Ltd boosted its holdings in Preferred Bank by 5,533.3% in the 3rd quarter. Point72 Hong Kong Ltd now owns 845 shares of the bank’s stock worth $55,000 after buying an additional 830 shares during the last quarter. Institutional investors and hedge funds own 71.08% of the company’s stock.

Preferred Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 21st. Stockholders of record on Friday, April 7th will be given a $0.55 dividend. The ex-dividend date of this dividend is Wednesday, April 5th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 4.13%. Preferred Bank’s payout ratio is 25.23%.

Preferred Bank Company Profile

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Preferred Bank operates as an independent commercial bank. It offers real estate financing for residential, commercial, industrial, and other income producing properties. Its business and consumer products include checking, savings, money market, and certificate of deposit accounts. The firm also offers treasury management services such as account reconciliation, remote deposit, cash and check courier services, merchant processing, and ACH credit origination.