Preferred Bank (NASDAQ:PFBC) Forecasted to Earn Q2 2024 Earnings of $2.48 Per Share

Preferred Bank (NASDAQ:PFBC - Free Report) - Investment analysts at DA Davidson issued their Q2 2024 EPS estimates for Preferred Bank in a research report issued to clients and investors on Thursday, April 25th. DA Davidson analyst G. Tenner anticipates that the bank will post earnings per share of $2.48 for the quarter. The consensus estimate for Preferred Bank's current full-year earnings is $9.33 per share. DA Davidson also issued estimates for Preferred Bank's FY2025 earnings at $8.63 EPS.

Preferred Bank (NASDAQ:PFBC - Get Free Report) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.06. Preferred Bank had a net margin of 28.70% and a return on equity of 21.28%. The firm had revenue of $127.07 million for the quarter, compared to analysts' expectations of $72.84 million. During the same quarter last year, the company posted $2.71 EPS.

Preferred Bank Price Performance

NASDAQ:PFBC traded down $1.02 during midday trading on Friday, hitting $76.45. The company had a trading volume of 65,734 shares, compared to its average volume of 91,576. The company has a market capitalization of $1.10 billion, a PE ratio of 7.38 and a beta of 1.04. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.21. Preferred Bank has a 52-week low of $42.42 and a 52-week high of $79.08. The stock's fifty day moving average price is $73.82 and its 200-day moving average price is $69.89.

Preferred Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Thursday, April 4th. Preferred Bank's payout ratio is currently 27.03%.

Institutional Trading of Preferred Bank

Hedge funds and other institutional investors have recently bought and sold shares of the company. BluePath Capital Management LLC purchased a new stake in Preferred Bank during the third quarter valued at about $33,000. Gladius Capital Management LP lifted its stake in shares of Preferred Bank by 518.1% in the 4th quarter. Gladius Capital Management LP now owns 445 shares of the bank's stock valued at $33,000 after acquiring an additional 373 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in Preferred Bank during the 4th quarter valued at about $34,000. AJOVista LLC bought a new position in Preferred Bank during the 4th quarter worth approximately $101,000. Finally, Everence Capital Management Inc. purchased a new position in Preferred Bank in the 4th quarter worth approximately $213,000. Hedge funds and other institutional investors own 72.77% of the company's stock.

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 in the United States. 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.