Preferred Bank reports results for the quarter ended in December - Earnings Summary

Preferred Bank

24/01/2024 22:01

* Preferred Bank  PFBC.OQ  reported quarterly adjusted
earnings of
$2.60​​ per share for the quarter ended in December, lower than
the same quarter last year, when the company reported EPS of
$2.71.  The mean expectation of five analysts for the quarter
was for earnings of $2.54 per share. Wall Street expected
results to range from $2.51  to $2.59 per share.
    * Revenue fell 6.4% to $69.40 million from a year ago;
analysts
expected $70.48 million. 
    * Preferred Bank's reported EPS for the quarter was $2.60​.
    * The company reported quarterly net income of $35.84
million.
    * Preferred Bank shares had risen by 1.5% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.2%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * Wall Street's median 12-month price target for Preferred
Bank is
$84.00 

This summary was machine generated from LSEG data January 24 at
10:01 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      2.54           2.60           Beat
 Sep. 30 2023      2.56           2.71           Beat
 Jun. 30 2023      2.45           2.61           Beat
 Mar. 31 2023      2.56           2.61           Beat