Brokers Issue Forecasts for Preferred Bank Q4 Earnings

Preferred Bank (NASDAQ:PFBC - Free Report) - Research analysts at DA Davidson issued their Q4 2024 earnings estimates for shares of Preferred Bank in a note issued to investors on Wednesday, October 23rd. DA Davidson analyst G. Tenner forecasts that the bank will post earnings of $2.41 per share for the quarter. The consensus estimate for Preferred Bank's current full-year earnings is $9.54 per share.

A number of other analysts have also recently issued reports on the company. Piper Sandler increased their target price on Preferred Bank from $88.00 to $105.00 and gave the stock an "overweight" rating in a research note on Monday, July 29th. Stephens raised their price objective on shares of Preferred Bank from $90.00 to $94.00 and gave the stock an "overweight" rating in a report on Tuesday.

Preferred Bank Trading Up 0.2 %

Preferred Bank stock traded up $0.13 during mid-day trading on Thursday, hitting $84.70. 54,360 shares of the company's stock were exchanged, compared to its average volume of 82,721. The firm has a market capitalization of $1.22 billion, a P/E ratio of 8.11 and a beta of 0.95. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.21. The company's 50 day simple moving average is $80.55 and its 200-day simple moving average is $78.29. Preferred Bank has a fifty-two week low of $58.52 and a fifty-two week high of $91.67.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last issued its quarterly earnings data on Monday, October 21st. The bank reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.39 by $0.07. The firm had revenue of $132.88 million during the quarter, compared to analysts' expectations of $68.80 million. Preferred Bank had a net margin of 27.35% and a return on equity of 20.24%. During the same quarter in the previous year, the company earned $2.71 earnings per share.

Hedge Funds Weigh In On Preferred Bank

A number of large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its holdings in shares of Preferred Bank by 78.3% in the first quarter. BNP Paribas Financial Markets now owns 15,564 shares of the bank's stock valued at $1,195,000 after purchasing an additional 6,833 shares during the last quarter. LSV Asset Management bought a new stake in Preferred Bank during the 1st quarter worth about $5,951,000. Vanguard Group Inc. lifted its position in Preferred Bank by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 868,073 shares of the bank's stock worth $66,642,000 after buying an additional 10,931 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Preferred Bank during the 3rd quarter worth about $294,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Preferred Bank by 6.2% in the 1st quarter. Russell Investments Group Ltd. now owns 15,637 shares of the bank's stock valued at $1,200,000 after acquiring an additional 919 shares in the last quarter. Institutional investors and hedge funds own 72.77% of the company's stock.

Preferred Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend was Monday, October 7th. Preferred Bank's dividend payout ratio is presently 27.03%.

About Preferred Bank

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. 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.