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

Preferred Bank (NASDAQ:PFBC) released its quarterly earnings results on Monday. The bank reported $2.46 EPS for the quarter, topping the consensus estimate of $2.39 by $0.07, Yahoo Finance reports. The company 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 in the previous year, the company posted $2.71 earnings per share.

Preferred Bank Price Performance

Shares of NASDAQ PFBC opened at $81.63 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $80.23 and its 200 day moving average price is $78.17. Preferred Bank has a 52 week low of $58.52 and a 52 week high of $91.67. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 7.88 and a beta of 0.95.

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 dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend was Monday, October 7th. Preferred Bank’s dividend payout ratio (DPR) is 27.03%.

Analysts Set New Price Targets

A number of research firms have weighed in on PFBC. Stephens increased their price objective on Preferred Bank from $84.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Piper Sandler lifted their price objective on shares of Preferred Bank from $88.00 to $105.00 and gave the company an “overweight” rating in a research 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.