Latest news with #PFBC
San Francisco Chronicle
2 days ago
- Business
- San Francisco Chronicle
Preferred Bank: Q2 Earnings Snapshot
LOS ANGELES (AP) — LOS ANGELES (AP) — Preferred Bank (PFBC) on Monday reported second-quarter profit of $32.8 million. The Los Angeles-based bank said it had earnings of $2.52 per share. The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.43 per share. The independent commercial bank posted revenue of $124.2 million in the period. Its revenue net of interest expense was $70.6 million, also topping Street forecasts. _____
Yahoo
14-07-2025
- Business
- Yahoo
Analysts Estimate Preferred Bank (PFBC) to Report a Decline in Earnings: What to Look Out for
Preferred Bank (PFBC) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended June 2025. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 21. On the other hand, if they miss, the stock may move lower. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. This independent commercial bank is expected to post quarterly earnings of $2.43 per share in its upcoming report, which represents a year-over-year change of -2%. Revenues are expected to be $70.15 million, up 0.9% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 1.93% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For Preferred Bank, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -1.03%. On the other hand, the stock currently carries a Zacks Rank of #3. So, this combination makes it difficult to conclusively predict that Preferred Bank will beat the consensus EPS estimate. Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that Preferred Bank would post earnings of $2.33 per share when it actually produced earnings of $2.23, delivering a surprise of -4.29%. Over the last four quarters, the company has beaten consensus EPS estimates two times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Preferred Bank doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Another stock from the Zacks Banks - West industry, Plumas Bancorp (PLBC), is soon expected to post earnings of $1.53 per share for the quarter ended June 2025. This estimate indicates a year-over-year change of +34.2%. Revenues for the quarter are expected to be $20.95 million, up 1.7% from the year-ago quarter. Over the last 30 days, the consensus EPS estimate for Plumas Bancorp has been revised 24.7% down to the current level. Nevertheless, the company now has an Earnings ESP of +22.22%, reflecting a higher Most Accurate Estimate. This Earnings ESP, combined with its Zacks Rank #3 (Hold), suggests that Plumas Bancorp will most likely beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Preferred Bank (PFBC) : Free Stock Analysis Report Plumas Bancorp (PLBC) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
08-06-2025
- Business
- Yahoo
PFBC Exec Tim Schaeffer explains the catch and release of federal funding
ERIE – Tim Schaeffer, Executive Director of the Pennsylvania Fish and Boat Commission, has proven to be a hands-on leader who relates well, isn't afraid to dig in on difficult subjects, and always strives to be a clear and open communicator. That trend continued recently as Schaeffer traveled to Erie to brief members of the Pennsylvania Outdoor Writers Association on agency updates, including a breakdown of how federal funds are obtained and redistributed. 'Federal revenue – which represents roughly one-fourth of PFBC's total funding – comes from a national excise tax on fishing and boating gear,' Schaeffer explained. 'This money is allocated via a formula that is based on geographic location and fishing license sales.' The Sport Fish Restoration Act, also known as the Dingell-Johnson Act, was enacted in 1950 to provide federal funding to state fish and wildlife agencies for restoration, conservation, management and enhancement of sport fishing opportunities. In 1984, that program was expanded by the Wallop-Breaux Amendment to include excise taxes on a wider variety of fishing equipment, including motorboat fuel, imported boat duties and fishing tackle. This amendment provided additional funding for boating access development and aquatic resource education programs, essentially creating a system through which the consumer directly benefits from the dollars they spend. Anglers and boaters purchase equipment to enjoy their favorite pastimes, and a portion of their investment comes right back to improve fishing access while ensuring abundant, sustainable fish populations in well- managed fisheries. According to PFBC reports, the U.S. Fish & Wildlife Service, which manages the Sport Fish and Wildlife Restoration budget, apportioned $381,827,198 in grants to state sport fish programs during the 2024 federal fiscal year. The program's North Atlantic- Appalachian Region received $62,573,512 for distribution among 14 states, with Pennsylvania receiving $9,320,492 – the largest apportionment to any state in the region. Of this total, $7,922,419 was allocated for freshwater fish and $1,398,074 was earmarked for boating access. 'This funding represents a significant portion of the PFBC's annual budget, and we've been able to steward that apportionment through a variety of programs that share these federal funds,' Schaeffer said. Fisheries Management receives the largest slice of the pie for studies that assess the impact of management techniques, including stocking, wild fish, habitat modifications and regulations on respective fisheries to meet program objectives. Aquatic Resource Education provides educational opportunities and outreach activities to target audiences, including the development and delivery of materials and training to aid in angler recruitment, reactivation and retention. Another portion goes to Maintenance of Public Access Facilities, including approximately 250 PFBC-owned and managed facilities that were acquired or developed with both federal and non-federal funds, to provide fishing and boating opportunities. Fifteen percent of Dingell-Johnson funds must be used on Recreational Boating Access, so the PFBC's Boating Facility Grant Program provides grants to eligible entities for the construction and improvement of public boat access facilities. Another program, the Boating Infrastructure Grant provides funding for tie-up and docking facilities for transient, non-trailered vessels such as scenic river cruise boats in Pittsburgh and Philadelphia that bring economic value to the area. The Clean Vessel Act supports the construction, renovation, operation and maintenanceof pump-out stations and waste reception facilities to meet the needs of recreationalboaters at public marinas and locally operated boat access areas. Lastly, Recreational Boating Safety has been prioritized, as the program helps fund the development and delivery of effective public boating education programs, implementation of strategies to reduce boating fatalities and incidents, and the enforcement of boating laws and regulations. Even with budget changes at the national level, Schaeffer is optimistic that this critical funding will remain intact, which should help prevent an increase in fishing license costs. 'We think these excise taxes are safe, because they are applied directly by the manufacturers into the consumer pricing, and it is extracted as 10-percent of the totalsale,' Schaeffer said. 'I've walked through the halls of outdoor shows, explaining to vendors how we use these excise tax dollars. 'Most businesses didn't know what their money was going towards, but they were pleased to hear it's being used to directly benefit their customers.' Just like catch-and-release fishing, these funds are redistributed for others to enjoy. (Frantz is a past president of the Pennsylvania Outdoor Writers Association. Contact the writer: outdoors@
Yahoo
23-05-2025
- Business
- Yahoo
Preferred Bank announces new $125M stock repurchase plan
Preferred Bank (PFBC) reported that the shareholders have approved a new $125M stock repurchase plan. Also, on May 8, the bank completed its prior stock repurchase plan. This was the final portion of the bank's $150M repurchase authorized by shareholders in 2023. The final tranche of repurchase activity saw the Bank repurchase 818,059 shares for total consideration of $65.7M over the first and second quarters of 2025. For the entire $150M repurchase, the bank repurchased 2,146,252 shares at an average price of $70.13 per share. For the new $125M repurchase, the bank will be required to gain regulatory approval due to the bank's corporate structure of having no holding company. It is expected that these approvals should be obtained in relatively short order. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on PFBC: Disclaimer & DisclosureReport an Issue Preferred Bank announces Nick Pi as chief risk officer Preferred Bank price target lowered to $96 from $108 at Piper Sandler Preferred Bank Faces Challenges Amid Earnings Call Insights Preferred Bank price target lowered to $90 from $95 at DA Davidson Preferred Bank Reports Q1 2025 Financial Results
Yahoo
03-05-2025
- General
- Yahoo
Pennsylvania monitoring rattlesnake 'baby boom'
(WHTM) — The Pennsylvania Fish and Boat Commission is keeping a close eye on a 'baby boom' while taking every safety precaution. Wildlife officers and trainees conducted a timber rattlesnake survey in Clearfield County. Timber rattlesnakes are native and are also venomous. Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Many of the females are pregnant and emerging from their underground dens. 'Females have to have 8 to 10 hours of solar radiation a day to bake their babies, basically bring metabolism up to gestate the young,' Chris Urban with the PFBC said. 'They're just out here trying to survive in their natural habitat and if you're out hiking and come across one, they're not out to hurt you,' Jenna Alleman, trainee, said. 'They just want to protect themselves, so if you leave them alone, they're going to leave you alone. Download the abc27 News+ app on your Roku, Amazon Fire TV Stick, and Apple TV devices There are as many as 2,000 rattlesnakes in Pennsylvania. Once captured, they're checked for previous microchip tags or implanted with a new tag to help study their future growth. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
