Preferred Bank (NASDAQ:PFBC) Releases Earnings Results

Preferred Bank (NASDAQ:PFBC) posted its quarterly earnings results on Monday. The bank reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.07, Yahoo Finance reports. The firm had revenue of $132.88 million during the quarter, compared to analysts’ expectations 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 in the previous year, the business earned $2.71 earnings per share.

Preferred Bank Stock Up 3.4 %

Preferred Bank stock opened at $84.43 on Wednesday. The stock has a market cap of $1.22 billion, a PE ratio of 8.25 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. The stock has a fifty day moving average of $80.38 and a 200 day moving average of $78.24. Preferred Bank has a one year low of $58.52 and a one year high of $91.67.

Preferred Bank Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Monday, October 7th. Preferred Bank’s payout ratio is currently 27.37%.

Analysts Set New Price Targets

Several equities research analysts recently commented on PFBC shares. Stephens lifted their price objective on Preferred Bank from $90.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday. Piper Sandler lifted their price target on shares of Preferred Bank from $88.00 to $105.00 and gave the stock an “overweight” rating in a research note 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.