Preferred Bank Posts 3Q EPS of $2.73
PFBC sits 33% above its 52-week low of $81.5.
Summary
Preferred Bank reported third-quarter EPS of $2.73 and net income of $32.9M, per Dow Jones Newswires. Net interest income fell due to nonaccrual loans, and the net interest margin dropped to 3.49%. The headline gives the bottom-line figure only — no revenue, provision, or year-ago comparison — so the beat/miss versus consensus cannot be judged from this release alone. The stock trades near its 52-week high of $112.26, so expectations are already elevated and the market's reaction will hinge on the details in the full release.
At the time of this announcement, PFBC was trading at $108.00 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.3B. The 52-week trading range was $81.50 to $112.26. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.