Preferred Bank (NASDAQ:PFBC) – B. Riley upped their Q1 2018 earnings per share estimates for shares of Preferred Bank in a report released on Thursday. B. Riley analyst S. Moss now expects that the bank will post earnings per share of $1.10 for the quarter, up from their previous estimate of $0.90. B. Riley also issued estimates for Preferred Bank’s Q2 2018 earnings at $1.16 EPS, Q3 2018 earnings at $1.24 EPS, Q4 2018 earnings at $1.30 EPS, FY2018 earnings at $4.80 EPS, Q1 2019 earnings at $1.33 EPS, Q2 2019 earnings at $1.39 EPS, Q3 2019 earnings at $1.44 EPS, Q4 2019 earnings at $1.48 EPS and FY2019 earnings at $5.65 EPS.
Other research analysts also recently issued research reports about the stock. BidaskClub upgraded shares of Preferred Bank from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. UBS Group upgraded shares of Preferred Bank from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, January 9th. Raymond James Financial upgraded shares of Preferred Bank from an “outperform” rating to a “strong-buy” rating and set a $71.00 target price on the stock in a report on Tuesday, January 9th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Preferred Bank from a “hold” rating to a “strong-buy” rating and set a $73.00 target price on the stock in a report on Saturday. Finally, ValuEngine downgraded shares of Preferred Bank from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Two analysts have rated the stock with a hold rating, two have given a buy rating and three have issued a strong buy rating to the company. Preferred Bank currently has a consensus rating of “Buy” and a consensus price target of $71.33.
Preferred Bank (NASDAQ:PFBC) last released its quarterly earnings data on Tuesday, October 24th. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.09. The business had revenue of $36.67 million during the quarter, compared to analyst estimates of $34.68 million. Preferred Bank had a net margin of 29.33% and a return on equity of 15.22%.
Several large investors have recently bought and sold shares of PFBC. Phocas Financial Corp. bought a new position in shares of Preferred Bank during the 2nd quarter worth about $8,623,000. State Street Corp increased its holdings in shares of Preferred Bank by 61.7% during the 2nd quarter. State Street Corp now owns 388,696 shares of the bank’s stock worth $20,782,000 after purchasing an additional 148,363 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Preferred Bank by 209.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 140,126 shares of the bank’s stock worth $7,491,000 after purchasing an additional 94,905 shares during the period. Allianz Asset Management GmbH increased its holdings in shares of Preferred Bank by 75.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 159,543 shares of the bank’s stock worth $9,628,000 after purchasing an additional 68,612 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Preferred Bank by 8.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 525,325 shares of the bank’s stock worth $31,703,000 after purchasing an additional 40,270 shares during the period. Institutional investors own 79.89% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 22nd. Investors of record on Monday, January 8th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Friday, January 5th. This is an increase from Preferred Bank’s previous quarterly dividend of $0.20. Preferred Bank’s dividend payout ratio (DPR) is 27.94%.
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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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