Preferred Bank

KBW reiterated its Market Perform rating on Preferred Bank (NASDAQ: PFBC) after the company's annual meeting, where its shareholders approved a 1-for-5 reverse stock split. In a research report published today, KBW states, "At their annual meeting, Preferred Bank shareholders approved a 1-for-5...

KBW is lowering its 2011 estimate on Preferred Bank (NASDAQ: PFBC) to $(0.10) from $(0.05) before the quarter. “We are also lowering our 2012 estimate to $0.05 from $0.10,” KBW writes. “We are leaving our 2013 EPS estimate unchanged at $0.10.” Preferred Bank closed Tuesday at $1.65.

Preferred Bank's (NASDAQ: PFBC) 3Q10 results missed expectations due to higher-than-expected provision expense, offset in part by operating expense improvement., Keefe, Bruyette & Woods reports. “[We're] updating [our] estimates, [and] leaving PT unchanged,” Keefe, Bruyette & Woods writes...