Preferred Bank (NASDAQ:PFBC) is set to announce third quarter earning results on Monday 19th October 2020, after market close.
Analysts surveyed by Thomson Reuters are predicting, PFBC to report 3Q20 income of $ 1.05 per share.
For the full year, analysts anticipate top line of $ 171.77 million, while looking forward to income of $ 4.23 per share bottom line.
Previous Quarter Performance
Preferred Bank recorded income for the second quarter of $ 1.03 per share, from the revenue of $ 42.18 million. The quarterly earnings reduced 21.37 percent compared with the same quarter last year. According to street consensus, PFBC was expected to report 2Q20 income of $ 0.83 per share from revenue of $ 41.60 million. The bottom line results beat street analysts by $ 0.2 or 24.10 percent, at the same time, top line results outshined analysts by $ 0.58 million or 1.39 percent.
Stock Performance
On Friday, shares of Preferred Bank has traded high as $ 34.75 and has cracked $ 33.55 on the downward trend, reaching $ 33.95 with volume of 35.10 thousand shares.
According to the previous trading day, closing price of $ 33.95, representing a 71.86 % increase from the 52 week low of $ 20.04 and a 46.6 % decrease over the 52 week high of $ 64.50.
The company has a market capital of $ 507.00 million and is part of the Financial Services sector and Banks – Regional – US industry.
Recent Analyst recommendations
- On 1st October 2020, maintained by Piper Sandler at Overweight rating, with $ 37.00 target price.
Conference Call
Preferred Bank will be hosting a conference call at 2:00 PM eastern time on 20th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.preferredbank.com
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 companys deposit products include 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; commercial loans comprising lines of credit for working capital and term loans for capital expenditures; and commercial and export letters of credit, import lines of credit, documentary collections, international wire transfers, export financing products, bills purchase programs, and acceptances/trust receipt financing products, as well as standby letters of credit and foreign exchange services for importers and exporters.
