Preferred Bank (PFBC) Announces Quarterly Earnings Results

Preferred Bank (NASDAQ:PFBC) posted its quarterly earnings results on Wednesday. The bank reported $1.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.02, Fidelity Earnings reports. The firm had revenue of $40.91 million for the quarter, compared to analyst estimates of $41.19 million. Preferred Bank had a return on equity of 18.39% and a net margin of 31.74%.

NASDAQ:PFBC opened at $59.60 on Friday. The company has a market cap of $783.50 million, a price-to-earnings ratio of 13.47, a P/E/G ratio of 1.28 and a beta of 0.93. Preferred Bank has a twelve month low of $55.65 and a twelve month high of $69.48. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.28.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 19th. Shareholders of record on Friday, October 5th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Thursday, October 4th. Preferred Bank’s dividend payout ratio (DPR) is 29.24%.

PFBC has been the topic of several recent analyst reports. BidaskClub raised Preferred Bank from a “sell” rating to a “hold” rating in a research report on Friday, July 6th. Stephens lowered Preferred Bank from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 6th. Raymond James lowered Preferred Bank from a “strong-buy” rating to an “outperform” rating in a research report on Tuesday, July 10th. Zacks Investment Research lowered Preferred Bank from a “hold” rating to a “sell” rating in a research report on Sunday, July 15th. Finally, B. Riley boosted their price target on Preferred Bank from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, July 20th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $72.20.

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 in the United States. The company's deposit products include checking, savings, negotiable order of withdrawal, 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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Earnings History for Preferred Bank (NASDAQ:PFBC)

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