Preferred Bank (NASDAQ:PFBC) Releases Quarterly Earnings Results, Beats Expectations By $0.20 EPS

Preferred Bank (NASDAQ:PFBC) announced its earnings results on Sunday. The bank reported $1.40 EPS for the quarter, topping the consensus estimate of $1.20 by $0.20, MarketWatch Earnings reports. Preferred Bank had a net margin of 30.60% and a return on equity of 14.08%.

NASDAQ PFBC traded up $1.47 on Tuesday, hitting $51.59. 10,483 shares of the company were exchanged, compared to its average volume of 62,031. Preferred Bank has a 12 month low of $20.04 and a 12 month high of $63.41. The company has a market cap of $776.43 million, a PE ratio of 10.97 and a beta of 1.47. The stock has a fifty day moving average of $49.02 and a 200-day moving average of $39.76. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.20.

The business also recently announced a quarterly dividend, which was paid on Thursday, January 21st. Investors of record on Thursday, January 7th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Wednesday, January 6th. Preferred Bank’s dividend payout ratio is presently 22.94%.

A number of analysts have issued reports on PFBC shares. TheStreet raised shares of Preferred Bank from a “c+” rating to a “b-” rating in a report on Tuesday, December 15th. B. Riley upgraded shares of Preferred Bank from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $45.00 to $64.00 in a research report on Friday, December 18th. Zacks Investment Research cut shares of Preferred Bank from a “buy” rating to a “hold” rating in a research report on Thursday, December 24th. Finally, Piper Sandler decreased their price target on shares of Preferred Bank from $44.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, October 1st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Preferred Bank currently has an average rating of “Hold” and an average price target of $50.60.

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.

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