Preferred Bank (PFBC) Forecasted to Earn FY2017 Earnings of $3.35 Per Share
Preferred Bank (NASDAQ:PFBC) – Equities researchers at FBR & Co upped their FY2017 earnings estimates for Preferred Bank in a note issued to investors on Thursday. FBR & Co analyst S. Moss now anticipates that the bank will post earnings of $3.35 per share for the year, up from their previous forecast of $3.26. FBR & Co currently has a “Buy” rating and a $70.00 target price on the stock. FBR & Co also issued estimates for Preferred Bank’s Q4 2017 earnings at $0.90 EPS, Q3 2018 earnings at $1.00 EPS, Q4 2018 earnings at $1.06 EPS, FY2018 earnings at $3.90 EPS, Q1 2019 earnings at $1.08 EPS, Q2 2019 earnings at $1.14 EPS, Q3 2019 earnings at $1.19 EPS and FY2019 earnings at $4.65 EPS.
Several other brokerages also recently issued reports on PFBC. Zacks Investment Research raised Preferred Bank from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a report on Saturday. BidaskClub raised Preferred Bank from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Finally, Stephens raised Preferred Bank from an “equal weight” rating to an “overweight” rating in a report on Monday, July 10th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $71.50.
Preferred Bank (PFBC) opened at 62.00 on Monday. Preferred Bank has a 12-month low of $36.02 and a 12-month high of $66.58. The firm has a market cap of $890.88 million, a price-to-earnings ratio of 21.29 and a beta of 0.94. The stock has a 50 day moving average price of $57.94 and a 200-day moving average price of $54.49.
Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings results on Tuesday, October 24th. The bank reported $0.94 EPS for the quarter, topping the consensus estimate of $0.85 by $0.09. The company had revenue of $36.67 million for the quarter, compared to analyst estimates of $34.68 million. Preferred Bank had a return on equity of 15.22% and a net margin of 29.33%.
Several hedge funds and other institutional investors have recently made changes to their positions in PFBC. Phocas Financial Corp. acquired a new stake in Preferred Bank in the 2nd quarter valued at approximately $8,623,000. State Street Corp increased its position in Preferred Bank by 61.7% in the 2nd quarter. State Street Corp now owns 388,696 shares of the bank’s stock valued at $20,782,000 after acquiring an additional 148,363 shares during the period. Ameriprise Financial Inc. increased its position in Preferred Bank by 209.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 140,126 shares of the bank’s stock valued at $7,491,000 after acquiring an additional 94,905 shares during the period. Wellington Management Group LLP increased its position in Preferred Bank by 38.5% in the 1st quarter. Wellington Management Group LLP now owns 195,104 shares of the bank’s stock valued at $10,469,000 after acquiring an additional 54,200 shares during the period. Finally, Vanguard Group Inc. increased its position in Preferred Bank by 10.2% in the 1st quarter. Vanguard Group Inc. now owns 522,054 shares of the bank’s stock valued at $28,013,000 after acquiring an additional 48,266 shares during the period. 78.53% of the stock is currently owned by institutional investors and hedge funds.
The business also recently declared a quarterly dividend, which was paid on Friday, October 20th. Investors of record on Friday, October 6th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Thursday, October 5th. Preferred Bank’s dividend payout ratio (DPR) is 25.32%.
Preferred Bank Company Profile
Preferred Bank is a commercial bank. The Bank provides deposit services, as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals and high net worth individuals. The Bank offers various services, such as personal banking, business banking and treasury management.
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