Analysts Set Expectations for Preferred Bank Q4 Earnings

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

Other analysts have also recently issued research reports about the company. Piper Sandler lifted their target price on Preferred Bank from $88.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Stephens boosted their price target on Preferred Bank from $90.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday.

Preferred Bank Stock Down 3.1 %

PFBC opened at $82.04 on Thursday. The business’s 50-day simple moving average is $80.75 and its 200-day simple moving average is $78.38. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.07 and a current ratio of 1.08. Preferred Bank has a one year low of $58.52 and a one year high of $91.67. The stock has a market capitalization of $1.18 billion, a P/E ratio of 8.22 and a beta of 0.95.

Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Monday, October 21st. The bank reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.07. Preferred Bank had a return on equity of 19.01% and a net margin of 26.20%. The business had revenue of $132.88 million for the quarter, compared to analysts’ expectations of $68.80 million. During the same quarter in the previous year, the firm earned $2.71 earnings per share.

Hedge Funds Weigh In On Preferred Bank

Several institutional investors have recently added to or reduced their stakes in PFBC. Copeland Capital Management LLC purchased a new stake in Preferred Bank in the 3rd quarter valued at approximately $54,000. Point72 DIFC Ltd boosted its holdings in Preferred Bank by 69.9% in the 2nd quarter. Point72 DIFC Ltd now owns 848 shares of the bank’s stock valued at $64,000 after purchasing an additional 349 shares in the last quarter. CWM LLC boosted its holdings in Preferred Bank by 96.4% in the 2nd quarter. CWM LLC now owns 1,043 shares of the bank’s stock valued at $79,000 after purchasing an additional 512 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in Preferred Bank by 35.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,486 shares of the bank’s stock valued at $112,000 after purchasing an additional 386 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Preferred Bank in the 1st quarter valued at approximately $118,000. Institutional investors and hedge funds own 72.77% of the company’s stock.

Preferred Bank Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Monday, October 7th. Preferred Bank’s dividend payout ratio (DPR) is presently 28.06%.

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. 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.