Why Preferred Bank (PFBC) Shares Are Falling Today [Yahoo! Finance]
Preferred Bank (PFBC)
Last preferred bank earnings: 4/22 04:05 pm
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US:NASDAQ Investor Relations:
1firstbank.com/pr/en/help-center/investor-relations
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Source: Yahoo! Finance
results that saw misses on key banking metrics, overshadowing a headline revenue beat. While the bank's revenue of $78.07 million surpassed analyst expectations, investors focused on underlying profitability concerns. The bank's net interest margin, a critical measure of lending profitability, came in at 3.7%, missing estimates of 3.8%. Additionally, the efficiency ratio, which measures a bank's overhead as a percentage of its revenue, was 31.2%, worse than the 29.7% analysts had anticipated. A lower efficiency ratio is better, so this miss indicated the bank was less efficient than expected. Although earnings per share of $2.79 met expectations and tangible book value per share posted a slight beat, the negative results in core profitability and operational efficiency metrics appeared to drive the negative market reaction. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Preferred Bank? Acce
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News
- Preferred Bank (NASDAQ:PFBC) had its "positive" rating reaffirmed by analysts at Stephens.MarketBeat
- Preferred Bank (NASDAQ:PFBC) had its price target lowered by analysts at Stephens from $105.00 to $93.00. They now have an "equal weight" rating on the stock.MarketBeat
- Preferred Bank (NASDAQ:PFBC) was given a new $111.00 price target on by analysts at Piper Sandler.MarketBeat
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