Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus.While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend ...

LOS ANGELES, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), (the “Bank”) one of the larger independent California banks, today reported that the Board of Directors had approved a significant donation to benefit fire relief efforts on the Los Angeles area. Li Yu, Chairman and CEO, commented, “The recent wildfires in Southern California have been devastating and one of the worst disasters in the history of Southern California. As a company headquartered in the heart of Los Angeles, the fires ...

Preferred Bank (NASDAQ:PFBC) Q4 2024 Earnings Conference Call January 28, 2025 2:00 PM ET Company Participants Jeff Haas - Financial Profiles Li Yu - Chairman and CEO Edward Czajka - CFO Wellington Chen - President and COO Nick Pi - CCO Johnny Hsu - Deputy Chief Operating Officer Conference Call Participants Andrew Terrell - Stephens Matthew Clark - Piper Sandler Gary Tenner - D.A. Davidson Tim Coffey - Janney David Feaster - Raymond James Operator Good day, and welcome to the Preferred Bank Fourth Quarter ...

Financial Data and Key Metrics Changes - The company reported a net income of $131 million, with a return on assets of 19.1% and a return on equity of 18.8%, which compares favorably with peers and industry averages [6][7] - The net income was impacted by a non-recurring rental expense adjustment of $810,000, which equated to approximately $0.42 on an after-tax basis [7] - Loan growth for the year was 7%, while deposit growth was 3.6%, both moderate compared to previous years but in line with industry averages [7][8] - Non-performing loans decreased from $20 million to $10 million, representing a 50% improvement [9] - The leverage capital ratio improved from 10.85% at the beginning of the year to 11.33% at year-end [11] - Tangible book value per common share increased from $50.54 to $57.86 [11] Business Line Data and Key Metrics Changes - The company experienced a reduction in criticized loans by 33% during the year [9] - The company repurchased 460,000 shares of common stock for a total consideration of $34 million [11] Market Data and Key Metrics Changes - The company noted that the banking industry is experiencing slow growth, with no significant increases in activity anticipated in the near term [7][8] - The company is facing competition from local banks offering special rates, particularly in the Asian community [22] Company Strategy and Development Direction - The company plans to remain flexible in its pricing strategy to compete effectively in the market [22] - The management indicated that buybacks will depend on loan growth prospects, stock pricing, and capital ratios [23] - The company is establishing a new branch in Manhattan, expected to open in March 2025, which will increase occupancy and personnel expenses [47] Management's Comments on Operating Environment and Future Outlook - Management expressed a cautious outlook for the banking industry, expecting moderate growth [7][45] - The management highlighted that while there is still activity, payoff activity has been higher, indicating a lack of sustainable increases in loan activity [46] - The management noted that clients are currently hesitant to invest due to perceived risks, despite having capital available [62] Other Important Information - The company plans to make a significant donation to local wildfire relief efforts, which will increase donation expenses [30] - The company is actively purchasing treasuries to take advantage of favorable rates, with $60 million in ten-year treasury purchases made recently [50] Q&A Session Summary Question: Inquiry about margin stability - Management indicated that they do not foresee major effects on margins and expect them to remain relatively stable [16][17] Question: Capital repatriation and buyback plans - Management stated that buyback decisions will depend on loan growth prospects and stock pricing, with a possibility of continued buybacks if stock remains undervalued [23] Question: Spot rate on deposits - The spot rate on deposits was reported at 3.63% for December [28] Question: Expense run rate expectations - Management projected non-interest expenses at about $23 million for the upcoming year, including increased charitable contributions and elevated payroll taxes [30][31] Question: Loan growth and competitive landscape - Management noted elevated payoff activity and a lack of sustainable increases in loan activity, indicating a cautious outlook for future growth [42][45] Question: Health of borrowers and credit trends - Management reported that borrowers are generally healthy, with strong sponsors willing to support loans during challenging times [66][70]

For the quarter ended December 2024, Preferred Bank (PFBC) reported revenue of $72.81 million, up 1.8% over the same period last year. EPS came in at $2.25, compared to $2.60 in the year-ago quarter.The reported revenue represents a surprise of +4.01% over the Zacks Consensus Estimate of $70 million. With the consensus EPS estimate being $2.42, the EPS surprise was -7.02%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street e ...

Preferred Bank (PFBC) came out with quarterly earnings of $2.25 per share, missing the Zacks Consensus Estimate of $2.42 per share. This compares to earnings of $2.60 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -7.02%. A quarter ago, it was expected that this independent commercial bank would post earnings of $2.39 per share when it actually produced earnings of $2.46, delivering a surprise of 2.93%.Over the last four quar ...

LOS ANGELES, Jan. 27, 2025 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), one of the larger independent California banks, today reported results for the quarter ended December 31, 2024. Preferred Bank (“the Bank”) reported net income of $30.2 million or $2.25 per diluted share for the fourth quarter of 2024. This represents a decrease in net income of $3.2 million from the prior quarter and a decrease of $5.6 from the same quarter last year. The decrease compared to both periods was mainly due to a one- ...

The upcoming report from Preferred Bank (PFBC) is expected to reveal quarterly earnings of $2.42 per share, indicating a decline of 6.9% compared to the year-ago period. Analysts forecast revenues of $70 million, representing a decrease of 2.1% year over year.Over the last 30 days, there has been an upward revision of 3.7% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of ...

A downtrend has been apparent in Preferred Bank (PFBC) lately with too much selling pressure. The stock has declined 11.9% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.Guide to Identifying Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for ...

LOS ANGELES, Jan. 10, 2025 (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 fourth quarter ended December 31, 2024 after the close of market on Monday, January 27, 2025. On the following day, Tuesday, January 28, 2025, 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 ...