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

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

Preferred Bank Trading Up 0.2 %

Shares of PFBC traded up $0.14 during midday trading on Wednesday, reaching $84.57. The company had a trading volume of 77,742 shares, compared to its average volume of 82,860. 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 $1.22 billion, a PE ratio of 8.27 and a beta of 0.95. The firm has a 50 day simple moving average of $80.38 and a 200-day simple moving average of $78.24. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.21.

Preferred Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Monday, October 7th. Preferred Bank’s dividend payout ratio (DPR) is presently 27.37%.

Analyst Ratings Changes

PFBC has been the topic of a number of research reports. Stephens raised their price objective 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 price objective 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.