* Preferred Bank reported quarterly adjusted earnings of $2.46 per share for the quarter ended September 30, lower than the same quarter last year, when the company reported EPS of $2.71. The mean expectation of five analysts for the quarter was for earnings of $2.37 per share. Wall Street expected results to range from $2.25 to $2.46 per share.
* Revenue fell 5.6% to $68.85 million from a year ago; analysts expected $65.88 million.
* Preferred Bank's reported EPS for the quarter was $2.46.
* The company reported quarterly net income of $33.38 million.
* Preferred Bank shares had risen by 3.8% this quarter and gained 14.1% so far this year.
FORECAST CHANGES
* The mean earnings estimate of analysts had fallen by about 2.3% in the last three months.
* In the last 30 days, two analysts negatively revised earnings estimates
RECOMMENDATIONS
* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy," 2 "hold" and no "sell" or "strong sell."
* The average consensus recommendation for the banks peer group is also "buy"
Wall Street's median 12-month price target for Preferred Bank is $96.00 This summary was machine generated from LSEG data October 21 at 04:19 p.m. UTC. All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING ESTIMATE ACTUAL BEAT, MET,
MISSED
Sep. 30 2024 2.37 2.46 Beat
Jun. 30 2024 2.48
Mar. 31 2024 2.38 2.44 Beat
Dec. 31 2023 2.54 2.60 Beat
Comments