Preferred Bank (NASDAQ:PFBC) Issues Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Preferred Bank (NASDAQ:PFBC) announced its earnings results on Thursday. The bank reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.09, Zacks reports. Preferred Bank had a return on equity of 20.50% and a net margin of 27.35%. The firm had revenue of $130.70 million during the quarter, compared to analysts’ expectations of $70.55 million. During the same quarter in the prior year, the business earned $2.61 earnings per share.

Preferred Bank Stock Performance

PFBC traded up $4.08 during trading on Friday, hitting $91.26. The stock had a trading volume of 168,334 shares, compared to its average volume of 108,434. The firm has a market cap of $1.32 billion, a PE ratio of 8.81 and a beta of 0.98. 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 has a 12 month low of $58.52 and a 12 month high of $91.45. The company has a 50 day simple moving average of $76.80 and a 200-day simple moving average of $74.88.

Preferred Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were paid a $0.70 dividend. The ex-dividend date was Friday, July 5th. This represents a $2.80 dividend on an annualized basis and a yield of 3.07%. Preferred Bank’s payout ratio is presently 27.03%.

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 in the United States. 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.