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

Preferred Bank (NASDAQ:PFBC) – Investment analysts at DA Davidson issued their Q2 2024 earnings estimates for shares of Preferred Bank in a research note issued to 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) last released its earnings results on Thursday, January 25th. The bank reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.06. The company had revenue of $127.07 million during the quarter, compared to the consensus estimate of $72.84 million. Preferred Bank had a return on equity of 21.28% and a net margin of 28.70%. During the same quarter in the previous year, the company posted $2.71 EPS.

Preferred Bank Price Performance

Shares of Preferred Bank stock opened at $77.47 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.07 and a quick ratio of 1.07. The business’s 50 day simple moving average is $73.72 and its two-hundred day simple moving average is $69.80. The stock has a market capitalization of $1.12 billion, a P/E ratio of 7.48 and a beta of 1.04. Preferred Bank has a one year low of $42.42 and a one year high of $79.08.

Preferred Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were paid a dividend of $0.70 per share. The ex-dividend date was Thursday, April 4th. This represents a $2.80 annualized dividend and a dividend yield of 3.61%. Preferred Bank’s dividend payout ratio (DPR) is presently 27.03%.

Hedge Funds Weigh In On Preferred Bank

Several hedge funds have recently made changes to their positions in PFBC. Smith Graham & Co. Investment Advisors LP purchased a new position in shares of Preferred Bank during the fourth quarter valued at approximately $6,522,000. AQR Capital Management LLC boosted its position in shares of 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 purchasing an additional 27,162 shares in the last quarter. Brandywine Global Investment Management LLC boosted its position in shares of 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 purchasing an additional 24,445 shares in the last quarter. American Century Companies Inc. boosted its position in shares of 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 purchasing an additional 23,032 shares in the last quarter. Finally, Algert Global LLC bought a new stake in shares of Preferred Bank during the third quarter valued at approximately $1,081,000. 72.77% of the stock is owned by hedge funds and other institutional investors.

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.