Brokerages forecast that Preferred Bank (NASDAQ:PFBC) will post sales of $49.76 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Preferred Bank’s earnings, with the lowest sales estimate coming in at $48.00 million and the highest estimate coming in at $51.02 million. Preferred Bank posted sales of $45.72 million in the same quarter last year, which suggests a positive year over year growth rate of 8.8%. The business is expected to report its next quarterly earnings report on Monday, October 18th.
According to Zacks, analysts expect that Preferred Bank will report full year sales of $193.26 million for the current financial year, with estimates ranging from $188.20 million to $196.30 million. For the next year, analysts expect that the business will post sales of $207.73 million, with estimates ranging from $195.90 million to $217.61 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Preferred Bank.
Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings data on Monday, July 19th. The bank reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.04). Preferred Bank had a net margin of 37.52% and a return on equity of 15.17%. The company had revenue of $45.01 million for the quarter, compared to analysts’ expectations of $47.81 million.
PFBC opened at $62.73 on Friday. The stock has a market cap of $944.09 million, a price-to-earnings ratio of 11.60 and a beta of 1.50. The stock’s 50 day moving average price is $60.60 and its 200-day moving average price is $63.86. Preferred Bank has a one year low of $30.65 and a one year high of $69.44. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.07 and a current ratio of 1.07.
Institutional investors and hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC purchased a new stake in shares of Preferred Bank during the 1st quarter valued at $30,000. Ensign Peak Advisors Inc raised its stake in Preferred Bank by 68.4% in the 1st quarter. Ensign Peak Advisors Inc now owns 3,200 shares of the bank’s stock worth $204,000 after acquiring an additional 1,300 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new position in Preferred Bank in the 1st quarter worth $205,000. Metropolitan Life Insurance Co NY raised its stake in Preferred Bank by 110,900.0% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 4,440 shares of the bank’s stock worth $281,000 after acquiring an additional 4,436 shares during the last quarter. Finally, Amalgamated Bank purchased a new position in Preferred Bank in the 2nd quarter worth $426,000. Hedge funds and other institutional investors own 74.78% of the company’s stock.
About Preferred Bank
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.
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