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

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

Preferred Bank Stock Up 0.2 %

PFBC stock traded up $0.14 during trading on Wednesday, hitting $84.57. 77,742 shares of the company’s stock were exchanged, compared to its average volume of 82,860. The business has a 50-day moving average price of $80.38 and a two-hundred day moving average price of $78.24. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 8.27 and a beta of 0.95. Preferred Bank has a 52-week low of $58.52 and a 52-week high of $91.67. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21.

Preferred Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.31%. The ex-dividend date was Monday, October 7th. Preferred Bank’s payout ratio is 27.37%.

Analysts Set New Price Targets

A number of equities analysts recently commented on PFBC shares. Stephens raised their target price on Preferred Bank from $90.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday. Piper Sandler raised their target price on Preferred Bank from $88.00 to $105.00 and gave the company an “overweight” rating in a 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.