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PFBC

Preferred Bank

$49.44

0.13 (0.26%)

16:07
07/17/19
07/17
16:07
07/17/19
16:07

Preferred Bank reports Q2 EPS $1.31, consensus $1.28

Net Interest Income and Net Interest Margin. Net interest income before provision for loan and lease losses was $41.8 million for the second quarter of 2019. This is up 11.9% over the $37.4 million recorded in the second quarter of 2018 and up over the $40.9 million recorded in the first quarter of 2019. The increase over the same period last year is due primarily to loan and overall asset growth. In comparing to the first quarter of 2019, strong loan growth mainly fueled the increase in net interest income. The Bank's taxable equivalent net interest margin was 4.07% for the second quarter of 2019, flat compared to the second quarter of 2018 and a 5 basis point decrease from the 4.12% posted in the first quarter of 2019. The decline in the margin was due to total deposit costs which rose by 12 basis points partially offset by an increase in earning asset yields of 4 basis points.Li Yu, Chairman and CEO, commented, "This quarter's highlight was our loan production. Sequentially, total loans increased $181 million or 5.3%. Fluctuations in credit line usage and loan pay-off activity accounted for some of the increase, but organic loan originations was one of the best in recent periods. "Conversely, our total deposits decreased $43 million or 1.2% sequentially. One of the reasons for the decrease was higher drawdowns on bank accounts by our commercial customers, which is echoed by the higher credit line usage discussed above. During the quarter, we pro-actively reduced interest rates on deposits ahead of much of our competition, which also may have also cost us some opportunities.

  • 18

    Jul

PFBC Preferred Bank
$49.44

0.13 (0.26%)

10/04/18
RAJA
10/04/18
UPGRADE
Target $77
RAJA
Strong Buy
Preferred Bank upgraded to Strong Buy from Outperform at Raymond James
As previously reported, Raymond James upgraded Preferred Bank to Strong Buy from Outperform and maintained a $77 price target. Analyst David Ling changed his view primarily due to valuation and said Preferred is well-positioned for rising interest rates with its highly asset-sensitive balance sheet and it is well-positioned for future growth given its healthy capital ratios.
01/22/19
DADA
01/22/19
NO CHANGE
Target $63
DADA
Buy
Preferred Bank price target lowered to $63 from $69 at DA Davidson
DA Davidson analyst Gary Tenner lowered his price target on Preferred Bank to $63 after its Q4 earnings miss, saying that while the company continued to generate strong loan growth and profitability on positive net interest margin direction, its earnings were impacted by the "higher provision related to the charge-off of NYC properties". The analyst is keeping his Buy rating given the bank's strong overall asset quality, but lowered his FY19 EPS outlook to $5.26 from $5.34.
01/22/19
RILY
01/22/19
NO CHANGE
Target $68
RILY
Buy
B. Riley FBR adds Preferred Bank to Alpha Generator list, removes Seacoast
B. Riley FBR analyst Steve Moss added Preferred Bank (PFBC) to his firm's Alpha Generator list while removing Seacoast Banking (SBCF). Preferred shares trade at a 29% discount to peers, but should trade in line given its "strong" profitability, double-digit earnings growth and "well-controlled" expenses, Moss tells investors in a research note. He keeps a Buy rating on Preferred Bank with a $68 price target.
06/05/19
DADA
06/05/19
DOWNGRADE
Target $52
DADA
Neutral
Preferred Bank downgraded to Neutral from Buy at DA Davidson
DA Davidson analyst Gary Tenner downgraded Preferred Bank to Neutral from Buy and lowered his price target for the shares to $52 from $60. The analyst cites interest rate uncertainty and net interest margin risk for the downgrade.

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2.88 (0.97%)

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GNTX

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VC

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DLPH

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$14.37

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BWA

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LEA

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3.94 (3.34%)

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DFIN

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$10.54

0.035 (0.33%)

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JNJ

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$132.84

2.17 (1.66%)

, TEVA

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$6.96

0.22 (3.26%)

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JNJ

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$132.84

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TEVA

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WAFD

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Ingredion

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S&P 500

$0.00

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PBR

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SNBR

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KKR

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$26.79

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KKR

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DB

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$7.79

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TW

Tradeweb Markets

$39.79

-0.14 (-0.35%)

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TW

Tradeweb Markets

$39.79

-0.14 (-0.35%)

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TW

Tradeweb Markets

$39.79

-0.14 (-0.35%)

18:16
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Earnings
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  • 07

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EDIT

Editas Medicine

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