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

Preferred Bank

26/07/2024 24:26

* Preferred Bank  PFBC.OQ  reported quarterly adjusted
earnings of
$2.48​​ per share for the quarter ended in June, lower than the
same quarter last year, when the company reported EPS of $2.61. 
The mean expectation of five analysts for the quarter was
for earnings of $2.39 per share. Wall Street expected results to
range from $2.22  to $2.48 per share.
    * Revenue fell 5.2% to $69.51 million from a year ago;
analysts
expected $67.14 million. 
    * Preferred Bank's reported EPS for the quarter was $2.48​.
    * The company reported quarterly net income of $33.59
million.
    * Preferred Bank shares had risen by 11.5% this quarter and
gained 15.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 2.7%
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." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for Preferred Bank is
$87.00 
This summary was machine generated from LSEG data July 25 at
11:26 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
 Jun. 30 2024      2.39           2.48           Beat
 Mar. 31 2024      2.38           2.44           Beat
 Dec. 31 2023      2.54           2.60           Beat
 Sep. 30 2023      2.56           2.71           Beat