DA Davidson Increases Earnings Estimates for Preferred Bank

Preferred Bank (NASDAQ:PFBC) – Equities research analysts at DA Davidson raised their FY2025 earnings estimates for shares of Preferred Bank in a research report issued on Thursday, January 30th. DA Davidson analyst G. Tenner now forecasts that the bank will earn $10.10 per share for the year, up from their prior forecast of $8.67. DA Davidson currently has a “Neutral” rating and a $101.00 price objective on the stock. The consensus estimate for Preferred Bank’s current full-year earnings is $9.29 per share.

A number of other research analysts have also issued reports on the stock. Stephens reiterated an “equal weight” rating and issued a $100.00 price objective on shares of Preferred Bank in a report on Thursday. Piper Sandler raised their price target on shares of Preferred Bank from $101.00 to $111.00 and gave the company an “overweight” rating in a research note on Friday.

Preferred Bank Trading Up 1.1 %

PFBC opened at $91.36 on Monday. The company’s 50 day moving average is $89.08 and its 200-day moving average is $85.19. The company has a market cap of $1.32 billion, a P/E ratio of 9.49 and a beta of 0.97. Preferred Bank has a 1-year low of $66.88 and a 1-year high of $99.78. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19.

Preferred Bank (NASDAQ:PFBC) last released its earnings results on Monday, January 27th. The bank reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.17). Preferred Bank had a return on equity of 17.80% and a net margin of 25.00%.

Preferred Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 23rd. Shareholders of record on Thursday, January 9th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date was Friday, January 10th. This is a positive change from Preferred Bank’s previous quarterly dividend of $0.70. Preferred Bank’s payout ratio is 31.15%.

Institutional Investors Weigh In On Preferred Bank

Institutional investors and hedge funds have recently made changes to their positions in the business. New York State Common Retirement Fund raised its position in Preferred Bank by 15.5% in the 4th quarter. New York State Common Retirement Fund now owns 26,222 shares of the bank’s stock valued at $2,265,000 after buying an additional 3,516 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Preferred Bank by 4.3% in the 4th quarter. Principal Financial Group Inc. now owns 70,530 shares of the bank’s stock worth $6,092,000 after acquiring an additional 2,884 shares in the last quarter. Meritage Portfolio Management raised its holdings in shares of Preferred Bank by 223.1% in the fourth quarter. Meritage Portfolio Management now owns 14,729 shares of the bank’s stock valued at $1,272,000 after purchasing an additional 10,171 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Preferred Bank by 19.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,976 shares of the bank’s stock valued at $778,000 after purchasing an additional 1,463 shares in the last quarter. Finally, SkyOak Wealth LLC purchased a new position in Preferred Bank during the fourth quarter worth about $281,000. Institutional investors and hedge funds 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. 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.