Preferred Bank (NASDAQ:PFBC) Issues Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Preferred Bank (NASDAQ:PFBC) announced its earnings results on Thursday. The bank reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.09, Zacks reports. Preferred Bank had a return on equity of 20.50% and a net margin of 27.35%. The firm had revenue of $130.70 million during the quarter, compared to the consensus estimate of $70.55 million. During the same quarter in the prior year, the company earned $2.61 EPS.

Preferred Bank Stock Performance

NASDAQ:PFBC traded up $4.08 during mid-day trading on Friday, hitting $91.26. 168,334 shares of the company’s stock traded hands, compared to its average volume of 108,434. The firm has a 50 day moving average of $76.80 and a two-hundred day moving average of $74.91. Preferred Bank has a 12 month low of $58.52 and a 12 month high of $91.45. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 8.81 and a beta of 0.98. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21.

Preferred Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.80 annualized dividend and a yield of 3.07%. Preferred Bank’s payout ratio is 27.03%.

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 accepts checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.