Preferred Bank Announces Approval to Continue Share Repurchase Plan
Preferred Bank (PFBC)
Last preferred bank earnings: 4/22 04:05 pm
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US:NASDAQ Investor Relations:
1firstbank.com/pr/en/help-center/investor-relations
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Source: GlobeNewswire
LOS ANGELES, Aug. 30, 2024 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), (“the Bank”), an independent commercial bank, today announced that the Bank has received regulatory approval to continue its shareholder-approved $150 million stock Repurchase Plan, (“the Plan”). Thus far in the Plan, the Bank has repurchased $72.5 million of its common stock over the latter half of 2023 and into 2024, however regulatory approval expired in July of 2024. As a state, non-member Bank that issues its common stock at the Bank level, Preferred Bank is required to seek regulatory approval to engage in transactions that either increase or decrease capital. This approval to repurchase the remaining $77.5 million of common stock will expire in February of 2025 and purchases will be made in the open market. The first portion of this repurchase totaled $72.5 million at an average price of $62.02. About Preferred Bank Preferred Bank is one of the larger independent commercial banks headquartered in
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News
- Preferred Bank (NASDAQ: PFBC) had its price target raised by analysts at Stephens from $90.00 to $94.00. They now have an "overweight" rating on the stock.MarketBeat
- Preferred Bank (PFBC) Q3 2024 Earnings Call Transcript [Seeking Alpha]Seeking Alpha
- Preferred Bank (PFBC) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates [Yahoo! Finance]Yahoo! Finance
- Preferred Bank GAAP EPS of $2.46, revenue of $72.31M [Seeking Alpha]Seeking Alpha
- Preferred Bank Reports Third Quarter ResultsGlobeNewswire
PFBC
Earnings
- 10/21/24 - Beat
PFBC
Analyst Actions
- 10/22/24 - Stephens & Co.
PFBC
Sec Filings
- 11/14/24 - Form SC
- 10/31/24 - Form SC
- PFBC's page on the SEC website