Preferred Bank to Post Q2 2024 Earnings of $2.48 Per Share, DA Davidson Forecasts (NASDAQ:PFBC)

Preferred Bank (NASDAQ:PFBC) – Investment analysts at DA Davidson issued their Q2 2024 EPS estimates for shares of Preferred Bank in a note issued to investors on Thursday, April 25th. DA Davidson analyst G. Tenner anticipates that the bank will earn $2.48 per share for the quarter. The consensus estimate for Preferred Bank’s current full-year earnings is $9.34 per share. DA Davidson also issued estimates for Preferred Bank’s FY2025 earnings at $8.63 EPS.

Preferred Bank Price Performance

NASDAQ:PFBC opened at $76.45 on Friday. The firm’s 50-day simple moving average is $73.82 and its 200 day simple moving average is $69.93. Preferred Bank has a 52 week low of $42.42 and a 52 week high of $79.08. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 7.38 and a beta of 1.04. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.07 and a current ratio of 1.07.

Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Thursday, January 25th. The bank reported $2.60 EPS for the quarter, beating the consensus estimate of $2.54 by $0.06. Preferred Bank had a return on equity of 21.28% and a net margin of 28.70%. The company had revenue of $127.07 million for the quarter, compared to the consensus estimate of $72.84 million. During the same quarter in the prior year, the business earned $2.71 earnings per share.

Preferred Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were given 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 of this dividend was Thursday, April 4th. Preferred Bank’s payout ratio is currently 27.03%.

Institutional Trading of Preferred Bank

A number of institutional investors and hedge funds have recently made changes to their positions in PFBC. Dimensional Fund Advisors LP increased its position in Preferred Bank by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 667,256 shares of the bank’s stock worth $48,745,000 after purchasing an additional 10,259 shares in the last quarter. Phocas Financial Corp. boosted its position in Preferred Bank by 2.0% during the fourth quarter. Phocas Financial Corp. now owns 150,897 shares of the bank’s stock valued at $11,023,000 after acquiring an additional 2,908 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Preferred Bank by 25.9% during the 3rd quarter. American Century Companies Inc. now owns 112,126 shares of the bank’s stock valued at $6,980,000 after purchasing an additional 23,032 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Preferred Bank by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 107,536 shares of the bank’s stock worth $6,694,000 after purchasing an additional 5,305 shares in the last quarter. Finally, Smith Graham & Co. Investment Advisors LP acquired a new position in Preferred Bank in the fourth quarter valued at approximately $6,522,000. Institutional investors own 72.77% of the company’s stock.

About Preferred Bank

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.