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Preferred Bank (PFBC)
:PFBC
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Earnings Data
Report Date
Jan 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
2.39Last Year’s EPS
2.6Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 17, 2018
|% Change Since: 5.54%
|Next Earnings Date:Jul 18, 2018
Earnings Call Sentiment|Neutral
The earnings call presented a mixed sentiment with both positive and negative aspects. While there were notable improvements in net income, nonperforming loans, and loan growth, challenges such as an increase in criticized loans, noninterest expenses, and a decrease in deposits tempered the overall outlook.Company Guidance
During the Q3 2024 earnings call for Preferred Bank, executives provided several key financial metrics and guidance insights. The bank reported a net income of $33.4 million, or $2.46 per share. They successfully reduced nonperforming loans, leading to $800,000 in interest recovery, although criticized loans saw an increase due to one relationship. Noninterest expenses rose unexpectedly because of a $1.7 million valuation charge on OREO, which is in escrow and expected to close soon. Loan demand increased, with a net loan growth exceeding 10% on an annualized basis, while deposits decreased by $11 million. The cost of deposits decreased slightly, improving the net interest margin. The bank's efficiency ratio was 30.6%, but excluding the OREO charge, it would have been approximately 28.5%. The loan portfolio consisted of 26% fixed-rate and 74% floating-rate loans, with 99% of floating loans having floors. The bank anticipates federal rate cuts to continue and expressed its intent to remain competitive in deposit gathering to support loan growth.Net Income Achievement
Preferred Bank reported a third quarter net income of $33.4 million or $2.46 per share.
Reduction in Nonperforming Loans
Successful reduction of nonperforming loans resulted in no charge-offs and $800,000 of interest recovery.
Loan Growth
Net increase in loans for the quarter was slightly over 10% on an annualized basis.
Improvement in Net Interest Margin
Net interest margin improved due to decreased deposit costs and interest recovery.
Successful Stock Buyback
The bank bought back 110,000 shares during the quarter.
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PFBC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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PFBC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 21, 2024 | $82.60 | $80.91 | -2.05% |
| Jul 25, 2024 | $85.66 | $89.66 | +4.67% |
| Apr 23, 2024 | $72.84 | $74.89 | +2.81% |
| Jan 24, 2024 | $71.43 | $69.44 | -2.79% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Preferred Bank (PFBC) report earnings?
Preferred Bank (PFBC) is schdueled to report earning on Jan 27, 2025, TBA Not Confirmed.
What is Preferred Bank (PFBC) earnings time?
Preferred Bank (PFBC) earnings time is at Jan 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PFBC EPS forecast?
PFBC EPS forecast for the fiscal quarter 2024 (Q4) is 2.39.
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