Preferred Bank (NASDAQ:PFBC) Releases Earnings Results, Beats Expectations By $0.07 EPS

Preferred Bank (NASDAQ:PFBC) announced its quarterly earnings data on Monday. The bank reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate 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 Stock Down 2.0 %

Preferred Bank stock opened at $81.63 on Tuesday. Preferred Bank has a 1-year low of $58.52 and a 1-year high of $91.67. The stock has a market cap of $1.18 billion, a PE ratio of 7.88 and a beta of 0.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.07 and a quick ratio of 1.07. The stock’s fifty day moving average is $80.23 and its two-hundred day moving average is $78.17.

Preferred Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Monday, October 7th. Preferred Bank’s dividend payout ratio (DPR) is presently 27.03%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PFBC. Stephens upped their price target on Preferred Bank from $84.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Piper Sandler upped their target price on shares of Preferred Bank from $88.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th.

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.