LOS ANGELES, Dec. 26, 2024 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the largest independent commercial banks in California, today reported that the Board of Directors has increased the quarterly cash dividend to $0.75 per share from the previous $0.70 per share, an increase of 7.1%. The dividend is payable on January 23, 2025 to holders of record on January 9, 2025. About Preferred Bank Preferred Bank is one of the larger independent commercial banks headquartered in California. The Bank is ...

LOS ANGELES, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent commercial banks in California, today announced plans to release its financial results for the third quarter ended September 30, 2024 before the open of market on Monday, October 21, 2024. That same day, management will host a conference call at 2:00 p.m. Eastern (11:00 a.m. Pacific). The call will be simultaneously broadcast over the Internet. Interested participants and investors may access the conf ...

Preferred Bank (PFBC) obtained regulatory approval to proceed with its shareholder-approved existing $150 million share repurchase program. Details of PFBC's Repurchase Plan Preferred Bank launched the $150 million program in June 2023 and received regulatory approval to initiate the first leg of the plan. Under this, the bank repurchased $72.5 million worth of shares at an average price of $62.02. The approval expired in July 2024. The currently obtained approval is for the remaining $77.5 million worth of ...

LOS ANGELES, Aug. 30, 2024 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), ("the Bank"), an independent commercial bank, today announced that the Bank has received regulatory approval to continue its shareholder-approved $150 million stock Repurchase Plan, ("the Plan"). Thus far in the Plan, the Bank has repurchased $72.5 million of its common stock over the latter half of 2023 and into 2024, however regulatory approval expired in July of 2024. As a state, non-member Bank that issues its common stock at ...

Edwin Tan/E+ via Getty Images Some companies end up being gifts that keep on giving. One good example of this that I could point to involves a rather small regional bank by the name of Preferred Bank (NASDAQ:PFBC). In the past, I have written about the institution, which emphasizes serving the Chinese American market, on two separate occasions. In my last article, which was published in March of this year, I stated that the company still represented a solid prospect for investors. This led me to reaffirm th ...

Company Performance - Preferred Bank reported quarterly earnings of $2.48 per share, exceeding the Zacks Consensus Estimate of $2.39 per share, but down from $2.61 per share a year ago [1] - The bank's revenues for the quarter ended June 2024 were $69.51 million, missing the Zacks Consensus Estimate by 1.47%, and down from $76.41 million year-over-year [2] - Over the last four quarters, Preferred Bank has surpassed consensus EPS estimates four times [6] Stock Performance - Preferred Bank shares have increased approximately 15.2% since the beginning of the year, compared to a 13.8% gain for the S&P 500 [7] - The current consensus EPS estimate for the upcoming quarter is $2.39 on revenues of $70.45 million, and for the current fiscal year, it is $9.60 on revenues of $281.5 million [9] Industry Context - The Zacks Banks - West industry, to which Preferred Bank belongs, is currently ranked in the bottom 34% of over 250 Zacks industries [14] - The estimate revisions trend for Preferred Bank is currently unfavorable, leading to a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [13]

| --- | --- | |--------------------------|------------------------| | | | | AT THE COMPANY: | AT FINANCIAL PROFILES: | | Edward J. Czajka | Jeffrey Haas | | Executive Vice President | General Information | | Chief Financial Officer | (310) 622-8240 | | (213) 891-1188 | PFBC@finprofiles.com | LOS ANGELES, June 20, 2024 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the largest independent commercial banks in California, today reported that the Board of Directors has declared a quarterly cash divid ...

LOS ANGELES, June 20, 2024 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the largest independent commercial banks in California, today reported that the Board of Directors has declared a quarterly cash dividend of $0.70 per share, payable on July 19, 2024 to holders of record on July 5, 2024. About Preferred Bank | --- | --- | |--------------------------|------------------------| | | | | AT THE COMPANY: | AT FINANCIAL PROFILES: | | Edward J. Czajka | Jeffrey Haas | | Executive Vice President | G ...

Preferred Bank (NASDAQ:PFBC) is a small bank, with equity of about $700 million and total assets of $6.75 billion. It is based in Los Angeles, and its strong performance in recent years is making it interesting in the eyes of investors. In particular, its fast-growing dividend is its strength, as is its better-than-average profitability. However, there are also weaknesses that could make this bank's future less rosy. Future prospects and profitability Last quarter loan growth was 4% annualized, which is a p ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks. Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics and fundamental analysis ...