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

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

Preferred Bank Stock Down 2.0 %

Shares of NASDAQ PFBC opened at $81.63 on Tuesday. The company has a 50 day simple moving average of $80.23 and a 200-day simple moving average of $78.17. The company has a market capitalization of $1.18 billion, a P/E ratio of 7.88 and a beta of 0.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.07 and a quick ratio of 1.07. Preferred Bank has a 1 year low of $58.52 and a 1 year high of $91.67.

Preferred Bank Announces Dividend

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

Wall Street Analysts Forecast Growth

PFBC has been the subject of a number of recent research reports. Stephens increased their price objective on shares of Preferred Bank from $84.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Piper Sandler increased their price objective on shares of 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.