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

Preferred Bank (NASDAQ:PFBC) issued 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 return on equity of 20.24% and a net margin of 27.35%. The company 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 business posted $2.71 EPS.

Preferred Bank Stock Performance

Shares of PFBC opened at $81.63 on Tuesday. The firm has a market capitalization of $1.18 billion, a P/E ratio of 7.88 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 stock has a 50 day moving average price of $80.23 and a two-hundred day moving average price of $78.17. 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 Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Piper Sandler raised their price objective on Preferred Bank from $88.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Stephens lifted their price target on shares of Preferred Bank from $90.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday.

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.