Preferred BankPFBC
PFBC
About: Preferred Bank is a commercial bank located in California. Its products and services are divided into Personal Banking, Business Banking, and Commercial Banking which includes Checking accounts, Savings accounts, CDs, Loans and Credit, Electronic banking and Treasury Management. It provides personalized deposit services, real estate finance, commercial loans, and trade finance credit facilities to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals and high-net-worth individuals. The bank generates a majority of its revenue from Southern and Northern California and Flushing.
Employees: 300
0
Funds holding %
of 6,809 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
25% more first-time investments, than exits
New positions opened: 30 | Existing positions closed: 24
5% more capital invested
Capital invested by funds: $837M [Q2] → $882M (+$45.5M) [Q3]
3% more funds holding
Funds holding: 209 [Q2] → 215 (+6) [Q3]
0.74% less ownership
Funds ownership: 75.43% [Q2] → 74.69% (-0.74%) [Q3]
9% less repeat investments, than reductions
Existing positions increased: 71 | Existing positions reduced: 78
96% less call options, than puts
Call options by funds: $16K | Put options by funds: $401K
Research analyst outlook
1 Wall Street Analyst provided 1 year price targets over the past 3 months
Low target
$94
8%
upside
Avg. target
$94
8%
upside
High target
$94
8%
upside
1 analyst rating
1 positive
100%
0 neutral
0%
0 negative
0%
Stephens & Co. Andrew Terrell 71% 1-year accuracy 15 / 21 met price target | 8%upside $94 | Overweight Maintained | 22 Oct 2024 |
Financial journalist opinion
Neutral
GlobeNewsWire
6 days ago
Preferred Bank Announces Additional Q4 Expense
LOS ANGELES, Dec. 19, 2024 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), (“the Bank”), an independent commercial bank, today announced that the Bank had uncovered an unreconciled difference in its calculation of its right of use asset (“ROU”) and lease liabilities. As a result of this error, the Bank will record $8.1 million on a pre-tax basis of occupancy expense in the fourth quarter of 2024. On an after-tax basis, this will reduce fourth quarter diluted earnings per share by approximately $0.43.
Neutral
Seeking Alpha
2 months ago
Preferred Bank (PFBC) Q3 2024 Earnings Call Transcript
Preferred Bank (NASDAQ:PFBC ) Q3 2024 Earnings Call Transcript October 21, 2024 2:00 PM ET Company Participants Jeff Haas - Financial Profiles Li Yu - Chairman and CEO Edward Czajka - CFO Wellington Chen - President and COO Nick Pi - CCO Conference Call Participants Matthew Clark - Piper Sandler Andrew Terrell - Stephens Gary Tenner - D.A. Davidson David Feaster - Raymond James Operator Good day, and welcome to the Preferred Bank Third Quarter 2024 Earnings Conference Call.
Neutral
Zacks Investment Research
2 months ago
Preferred Bank (PFBC) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
While the top- and bottom-line numbers for Preferred Bank (PFBC) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Positive
Zacks Investment Research
2 months ago
Preferred Bank (PFBC) Q3 Earnings and Revenues Surpass Estimates
Preferred Bank (PFBC) came out with quarterly earnings of $2.46 per share, beating the Zacks Consensus Estimate of $2.39 per share. This compares to earnings of $2.71 per share a year ago.
Neutral
GlobeNewsWire
2 months ago
Preferred Bank Announces 2024 Third Quarter Earnings Release and Conference Call
LOS ANGELES, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent commercial banks in California, today announced plans to release its financial results for the third quarter ended September 30, 2024 before the open of market on Monday, October 21, 2024. That same day, management will host a conference call at 2:00 p.m. Eastern (11:00 a.m. Pacific). The call will be simultaneously broadcast over the Internet.
Negative
Zacks Investment Research
2 months ago
Analysts Estimate Preferred Bank (PFBC) to Report a Decline in Earnings: What to Look Out for
Preferred Bank (PFBC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Neutral
GlobeNewsWire
3 months ago
Preferred Bank Announces Quarterly Cash Dividend
LOS ANGELES, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the largest independent commercial banks in California, today reported that the Board of Directors has declared a quarterly cash dividend of $0.70 per share, payable on October 21, 2024 to holders of record on October 7, 2024.
Positive
Zacks Investment Research
3 months ago
Preferred Bank Gets Regulatory Nod to Continue Share Repurchase Plan
PFBC receives regulatory approval to buy back the remaining $77.5 million worth of authorization. The approval is set to expire in February 2025.
Neutral
GlobeNewsWire
3 months ago
Preferred Bank Announces Approval to Continue Share Repurchase Plan
LOS ANGELES, Aug. 30, 2024 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), (“the Bank”), an independent commercial bank, today announced that the Bank has received regulatory approval to continue its shareholder-approved $150 million stock Repurchase Plan, (“the Plan”). Thus far in the Plan, the Bank has repurchased $72.5 million of its common stock over the latter half of 2023 and into 2024, however regulatory approval expired in July of 2024.
Positive
Seeking Alpha
3 months ago
Preferred Bank: Solid Upside Should Continue Despite Some Weaknesses
Preferred Bank shares have outperformed the market slightly, up 10.1% in recent months. Despite some weaknesses in financial results, deposit, and loan growth have powered the bank to greater heights. Shares are attractively priced relative to earnings, with high-quality assets and low debt, making the company a sensible 'buy'.
Charts implemented using Lightweight Charts™