Preferred Bank (NASDAQ:PFBC) Announces Quarterly Earnings Results

Preferred Bank (NASDAQ:PFBC) released its earnings results on Friday. The bank reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.69 by $0.04, Zacks reports. Preferred Bank had a return on equity of 17.27% and a net margin of 26.54%.

Preferred Bank Stock Performance

PFBC traded down $1.42 on Friday, hitting $107.20. The company’s stock had a trading volume of 65,665 shares, compared to its average volume of 113,336. Preferred Bank has a 12 month low of $81.50 and a 12 month high of $112.26. The firm has a market cap of $1.55 billion, a P/E ratio of 9.80 and a beta of 0.57. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.44. The company’s 50 day simple moving average is $104.72 and its 200-day simple moving average is $101.39.

Preferred Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 19th. Investors of record on Monday, October 5th were issued a $0.80 dividend. The ex-dividend date of this dividend was Monday, October 5th. This represents a $3.20 annualized dividend and a yield of 3.0%. Preferred Bank’s dividend payout ratio (DPR) is 29.25%.

Analysts Set New Price Targets

A number of research analysts have recently commented on PFBC shares. Weiss Ratings raised Preferred Bank from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Benchmark raised Preferred Bank to a “strong-buy” rating in a report on Wednesday, September 23rd. Piper Sandler lifted their price objective on Preferred Bank from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, October 1st. Finally, Stephens boosted their price objective on Preferred Bank from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Preferred Bank currently has an average rating of “Moderate Buy” and a consensus price target of $110.00.

Preferred Bank Company Profile

Preferred Bank (NASDAQ: PFBC) is a commercial bank headquartered in Los Angeles, California. Founded in 1991, the bank provides banking and financial services to businesses, professionals and individuals, with a particular focus on commercial banking and relationship-based service.

The bank’s principal offerings include commercial and industrial loans, commercial real estate financing, construction and residential real estate loans, and consumer lending. Preferred Bank also provides deposit accounts, cash-management services, online banking and other treasury-management solutions for business and personal customers.

Preferred Bank operates a network of full-service branches in California and New York, serving customers in major metropolitan markets including the greater Los Angeles area, the San Francisco Bay Area and New York City.