FY2024 Earnings Forecast for Preferred Bank Issued By DA Davidson (NASDAQ:PFBC)

Preferred Bank (NASDAQ:PFBC) – Stock analysts at DA Davidson boosted their FY2024 earnings estimates for Preferred Bank in a research note issued on Thursday, April 25th. DA Davidson analyst G. Tenner now expects that the bank will post earnings per share of $9.92 for the year, up from their previous estimate of $8.38. The consensus estimate for Preferred Bank’s current full-year earnings is $9.64 per share.

Preferred Bank Stock Down 0.5 %

Shares of Preferred Bank stock opened at $75.69 on Monday. 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 has a 52-week low of $42.42 and a 52-week high of $79.08. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 7.31 and a beta of 1.04. The company’s 50 day moving average price is $73.99 and its 200-day moving average price is $70.15.

Preferred Bank Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Thursday, April 4th. Preferred Bank’s dividend payout ratio is 27.03%.

Institutional Trading of Preferred Bank

Several large investors have recently added to or reduced their stakes in PFBC. Smith Graham & Co. Investment Advisors LP bought a new stake in Preferred Bank in the fourth quarter valued at $6,522,000. AQR Capital Management LLC lifted its position in Preferred Bank by 64.5% during the third quarter. AQR Capital Management LLC now owns 69,277 shares of the bank’s stock valued at $4,313,000 after buying an additional 27,162 shares during the period. Brandywine Global Investment Management LLC lifted its position in Preferred Bank by 117.8% during the third quarter. Brandywine Global Investment Management LLC now owns 45,205 shares of the bank’s stock valued at $2,814,000 after buying an additional 24,445 shares during the period. American Century Companies Inc. lifted its position in Preferred Bank by 25.9% during the third quarter. American Century Companies Inc. now owns 112,126 shares of the bank’s stock valued at $6,980,000 after buying an additional 23,032 shares during the period. Finally, Algert Global LLC purchased a new position in Preferred Bank during the third quarter valued at $1,081,000. 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.