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

Preferred Bank (NASDAQ:PFBC) announced its 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. Preferred Bank had a net margin of 27.35% and a return on equity of 20.24%. The company had revenue of $132.88 million during the quarter, compared to the consensus estimate of $68.80 million. During the same quarter in the prior year, the company posted $2.71 earnings per share.

Preferred Bank Stock Performance

NASDAQ PFBC opened at $81.63 on Tuesday. The company has a market capitalization 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 quick ratio of 1.07 and a current ratio of 1.07. Preferred Bank has a 52-week low of $58.52 and a 52-week high of $91.67. The company has a 50-day simple moving average of $80.23 and a 200 day simple moving average of $78.17.

Preferred Bank Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Monday, October 7th. Preferred Bank’s dividend payout ratio (DPR) is currently 27.03%.

Analyst Upgrades and Downgrades

PFBC has been the subject of several analyst reports. Stephens increased their price objective on shares of Preferred Bank from $90.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday. Piper Sandler upped 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.

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.