Profile
Sector:
Financial ServicesIndustry:
Banks - RegionalCountry:
United StatesIPO:
19 August 1999Website:
http://www.preferredbank.comNext earnings report:
19 July 2024Last dividends:
04 April 2024Next dividends:
05 July 2024Price
after hours | Wed, 03 Jul 2024 17:01:20 GMTAnalysts recommendations
Institutional Ownership
PFBC Latest News
LOS ANGELES, June 20, 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 July 19, 2024 to holders of record on July 5, 2024.
Preferred Bank is a small bank with strong performance and a fast-growing dividend, making it attractive to investors. The bank's profitability is above average, with a high loan yield and positive asset results. The CEO believes that the U.S. economy is resilient and that the worst is behind us, but the bank needs to improve its balance sheet structure to prepare for potential rate reductions.
Preferred Bank (PFBC) could see an increase in its stock price due to increasing confidence in its earnings potential, as indicated by its upgrade to a Zacks Rank #2 (Buy).
Preferred Bank, a prominent independent commercial bank in California, will be releasing its financial results for the first quarter of 2024 on Tuesday, April 23, 2024 before the market opens. A conference call hosted by management will take place at 2:00 p.m. Eastern (11:00 a.m. Pacific) on the same day, with a simultaneous internet broadcast.
Going beyond Wall Street's projections for Preferred Bank (PFBC), analyze some of its important metrics to better understand the company's potential performance in the first quarter of 2024.
Preferred Bank's shares have underperformed the broader market, but revenue and profits have remained positive. The bank's 2023 fiscal year showed positive growth in net interest income and net income, despite some weakness in non-interest income. Deposits and loan values have increased, while securities have decreased. The bank is trading at a low price-to-earnings multiple, but is expensive relative to book value.
Preferred Bank (PFBC) Q4 2023 Earnings Call Transcript
The headline numbers for Preferred Bank (PFBC) give insight into how the company performed in the quarter ended December 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Beyond analysts' top -and-bottom-line estimates for Preferred Bank (PFBC), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended December 2023.
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.
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What type of business is 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. It also provides real estate mortgage loans that are secured by retail, industrial, office, special purpose, and residential single and multi-family properties; real estate construction loans; and commercial loans comprising lines of credit for working capital, term loans for capital expenditures, and commercial and stand-by letters of credit; and SBA loans. In addition, the company offers trade finance services, including commercial and export letters of credit, import lines of credit, documentary collections, international wire transfers, acceptances/trust receipt financing products, export financing, documentary collections, and bills purchase programs. Further, it provides various high-wealth banking services to wealthy individuals residing in the Pacific Rim area; and remote deposit capture, and online and mobile banking services. Additionally, the company offers various banking services to physicians, accountants, attorneys, business managers, and other professionals; and safe deposit boxes, account reconciliation, courier service, and cash management services to the manufacturing, service, and distribution companies. As of December 31, 2021, it had eleven full-service branch offices in Alhambra, Century City, City of Industry, Torrance, Arcadia, Irvine, Diamond Bar, Pico Rivera, Tarzana, and San Francisco; and one branch in Flushing, New York. The company was incorporated in 1991 and is headquartered in Los Angeles, California.
What sector is Preferred Bank in?
Preferred Bank is in the Financial Services sector
What industry is Preferred Bank in?
Preferred Bank is in the Banks - Regional industry
What country is Preferred Bank from?
Preferred Bank is headquartered in United States
When did Preferred Bank go public?
Preferred Bank initial public offering (IPO) was on 19 August 1999
What is Preferred Bank website?
https://www.preferredbank.com
Is Preferred Bank in the S&P 500?
No, Preferred Bank is not included in the S&P 500 index
Is Preferred Bank in the NASDAQ 100?
No, Preferred Bank is not included in the NASDAQ 100 index
Is Preferred Bank in the Dow Jones?
No, Preferred Bank is not included in the Dow Jones index
When does Preferred Bank report earnings?
The next expected earnings date for Preferred Bank is 19 July 2024