Preferred Bank (NASDAQ:PFBC) Issues Quarterly Earnings Results

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

Preferred Bank Stock Down 2.0 %

PFBC opened at $81.63 on Tuesday. Preferred Bank has a twelve month low of $58.52 and a twelve month high of $91.67. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $80.23 and a 200 day moving average price of $78.17. The company has a market cap of $1.18 billion, a PE ratio of 7.88 and a beta of 0.95.

Preferred Bank Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.