Preferred Bank (PFBC) Scheduled to Post Earnings on Monday

Preferred Bank (NASDAQ:PFBC) is set to announce its earnings results before the market opens on Monday, October 21st. Analysts expect the company to announce earnings of $2.39 per share for the quarter.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.09. Preferred Bank had a return on equity of 20.24% and a net margin of 27.35%. The company had revenue of $130.70 million for the quarter, compared to analysts’ expectations of $70.55 million. During the same period in the previous year, the firm earned $2.61 EPS. On average, analysts expect Preferred Bank to post $10 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Preferred Bank Price Performance

Shares of NASDAQ:PFBC traded up $1.85 during midday trading on Wednesday, reaching $84.76. 2,658 shares of the company were exchanged, compared to its average volume of 82,751. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. The stock has a market cap of $1.22 billion, a PE ratio of 8.18 and a beta of 0.95. The business’s fifty day moving average is $79.64 and its two-hundred day moving average is $77.94. Preferred Bank has a one year low of $58.52 and a one year high of $91.67.

Preferred Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, October 7th will be given a dividend of $0.70 per share. The ex-dividend date is Monday, October 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.30%. Preferred Bank’s payout ratio is 27.03%.

Analyst Upgrades and Downgrades

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

About Preferred Bank

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.