Preferred Bank (PFBC) Stock

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.

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.

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.

PFBC receives regulatory approval to buy back the remaining $77.5 million worth of authorization. The approval is set to expire in February 2025.

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.

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'.

Preferred Bank (NASDAQ:PFBC ) Q2 2024 Earnings Conference Call July 26, 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 - Chief Credit Officer Conference Call Participants Matthew Clark - Piper Sandler Andrew Terrell - Stephens Gary Tenner - D.A. Davidson Eric Spector - Raymond James Operator Good afternoon, and welcome to the Preferred Bank Second Quarter 2024 Earnings Conference Call.

Preferred Bank (PFBC) came out with quarterly earnings of $2.48 per share, beating the Zacks Consensus Estimate of $2.39 per share. This compares to earnings of $2.61 per share a year ago.

LOS ANGELES, July 25, 2024 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent California banks, today reported results for the quarter ended June 30, 2024. Preferred Bank (“the Bank”) reported net income of $33.6 million or $2.48 per diluted share for the second quarter of 2024. This represents a slight increase in net income of $126,000 over the prior quarter but down by $4.3 million from the same quarter last year. The decrease in net income from the prior year was due to lower net interest income because of rising deposit costs. Despite the decrease in net income, Preferred Bank continues to deliver top-of-peer group profitability metrics and long term shareholder returns.