Preferred Bank (NASDAQ:PFBC) Announces Earnings Results

Preferred Bank (NASDAQ:PFBC) posted its quarterly earnings results on Monday. The bank reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.39 by $0.07, Yahoo Finance reports. The business had revenue of $132.88 million for the quarter, compared to analysts’ expectations of $68.80 million. Preferred Bank had a return on equity of 20.24% and a net margin of 27.35%. During the same period last year, the firm earned $2.71 earnings per share.

Preferred Bank Trading Up 3.4 %

Shares of NASDAQ PFBC opened at $84.43 on Wednesday. The business’s 50 day moving average is $80.38 and its two-hundred day moving average is $78.24. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.07 and a quick ratio of 1.07. Preferred Bank has a 1-year low of $58.52 and a 1-year high of $91.67. The stock has a market capitalization of $1.22 billion, a P/E ratio of 8.25 and a beta of 0.95.

Preferred Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $2.80 annualized dividend and a yield of 3.32%. Preferred Bank’s payout ratio is currently 27.37%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Piper Sandler lifted their target price on Preferred Bank from $88.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Stephens lifted their target price on Preferred Bank from $90.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday.

Preferred Bank Company Profile

Preferred Bank provides various commercial banking products and services to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals, and high net worth individuals. The company accepts checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.