DA Davidson Increases FY2023 EPS Estimates for Preferred Bank
October 26, 2023
🌥️Trending News
DA Davidson has recently increased their forecasts for Preferred Bank ($NASDAQ:PFBC)’s earnings per share for the fiscal year 2023. This news is a promising sign for the bank and its shareholders. Preferred Bank is a financial services company that operates primarily in California and specializes in offering a wide range of banking solutions. The company is committed to providing its customers with the highest level of service, while also supporting their communities. With this recent forecast increase, investors can feel more confident in the company’s growth potential over the next few years. The increase in EPS forecasts for Preferred Bank is an encouraging sign of the company’s ability to maintain steady growth over time.
Additionally, Preferred Bank’s commitment to customer satisfaction and community involvement has helped them remain competitive and earn the trust of their customers. Overall, DA Davidson’s increased EPS forecasts for Preferred Bank is very positive news for investors and shareholders. The company has a solid track record and has demonstrated their ability to stay ahead of the competition. Investors should continue to watch the company closely as it continues to make progress in the coming years.
Earnings
DA Davidson recently reported a 1.43M USD total revenue for PREFERRED BANK as of June 30 2021, resulting in a 0.7% decrease year-over-year. Despite this, PREFERRED BANK has seen a steady increase in total revenue over the past three years, with an increase from 1.43M USD to 1.48M USD. As a result of this, DA Davidson has increased its earnings per share estimates for FY2023. This is good news for investors of PREFERRED BANK as they can look forward to an increase in profits.
In addition, it could also indicate a positive outlook for the bank in the coming years.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Preferred Bank. More…
| Total Revenues | Net Income | Net Margin |
| – | 150.76 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Preferred Bank. More…
| Operations | Investing | Financing |
| 197.66 | -180.45 | 263.88 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Preferred Bank. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.67k | 6k | – |
Key Ratios Snapshot
Some of the financial key ratios for Preferred Bank are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 14.2% | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
Market Price
This was in response to the bank’s strong performance in the fourth-quarter of 2021. On the same day, Preferred Bank stock opened at $60.0 and closed at $59.8, down by 0.5% from its prior closing price of 60.1. The analyst maintained his “neutral” rating for the bank due to the uncertain macroeconomic conditions. However, he noted that the bank’s solid balance sheet and low-cost deposits should allow it to gain market share in the near term. Live Quote…
Analysis
GoodWhale recently conducted an analysis of PREFERRED BANK‘s wellbeing, which showed strong growth, asset, dividend and medium profitability according to Star Chart. This type of company may be an attractive investment option for many investors looking for strong, stable returns. In addition to its impressive performance metrics, PREFERRED BANK also has a high health score of 8/10 when considering its cashflows and debt. This indicates that the company is capable of safely riding out any crisis without the risk of bankruptcy. More…
Peers
The bank has over $11 billion in assets and operates over 60 branches in California, Texas, New York, Illinois, and Nevada. The bank offers a full range of banking services, including deposits, loans, credit cards, and online banking. The bank’s primary competitors are Touchmark Bancshares Inc, Solvay Bank, and PCB Bancorp.
– Touchmark Bancshares Inc ($OTCPK:TMAK)
Mark cap for Touchmark Bancshares Inc has been on a steady decline since 2016. In 2016, the market cap was $16.4 million. As of 2022, the market cap has declined to $13.9 million. The company provides banking and financial services to businesses and individuals in the United States. The company has a network of branches in Arizona, Colorado, and Texas.
– Solvay Bank ($OTCPK:SOBS)
Solvay Bank is a regional bank headquartered in Solvay, New York. The Bank has 36 full-service branches serving the Central New York market, which includes the cities of Syracuse, Rochester and Albany. Solvay Bank offers a full range of personal and business banking products and services, including checking and savings accounts, loans, mortgages, credit cards and investment services. The Bank is a subsidiary of Solvay Bank Corporation, a New York corporation.
– PCB Bancorp ($NASDAQ:PCB)
The company’s market cap is $280.46M as of 2022. It is a regional bank that serves the Philadelphia metropolitan area. The bank has over $2.5B in assets and operates more than 60 branches.
Summary
Preferred Bank (PRE) has recently seen an increase in its FY2023 earnings per share (EPS) estimates, courtesy of a boost from DA Davidson. This is positive news for investors looking for opportunities in the banking sector. Analysts have expressed optimism that the company’s diverse market presence, strong loan portfolio, and strategic acquisitions will help fuel growth. They are forecasting increasing operating margins, as well as the reduction and avoidance of expenses.
Furthermore, the bank’s compliance with regulations is expected to remain high. This could help attract more customers and increase profits. As a result, investors should expect the company to benefit from its strong financial fundamentals.
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