Preferred Bank reports results for the quarter ended in September 30 - Earnings Summary

Preferred Bank

21/10/2024 17:19

* Preferred Bank  PFBC.OQ  reported quarterly adjusted
earnings of
$2.46​​ per share for the quarter ended September 30, 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 $2.37 per share. Wall Street expected
results to range from $2.25  to $2.46 per share.
    * Revenue fell 5.6% to $68.85 million from a year ago;
analysts
expected $65.88 million. 
    * Preferred Bank's reported EPS for the quarter was $2.46​.
    * The company reported quarterly net income of $33.38
million.
    * Preferred Bank shares had risen by 3.8% this quarter and
gained 14.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 2.3%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

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
$96.00 
This summary was machine generated from LSEG data October 21 at
04:19 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
 Sep. 30 2024      2.37           2.46           Beat
 Jun. 30 2024                     2.48           
 Mar. 31 2024      2.38           2.44           Beat
 Dec. 31 2023      2.54           2.60           Beat