Preferred Bank to Issue Quarterly Dividend of $0.70 (NASDAQ:PFBC)

Preferred Bank (NASDAQ:PFBC) declared a quarterly dividend on Thursday, June 20th, Zacks reports. Stockholders of record on Friday, July 5th will be paid a dividend of 0.70 per share by the bank on Friday, July 19th. This represents a $2.80 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Friday, July 5th.

Preferred Bank has raised its dividend payment by an average of 22.4% per year over the last three years. Preferred Bank has a dividend payout ratio of 30.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Preferred Bank to earn $9.05 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 30.9%.

Preferred Bank Stock Down 0.8 %

Shares of PFBC traded down $0.60 during mid-day trading on Wednesday, hitting $75.24. 2,148 shares of the company’s stock were exchanged, compared to its average volume of 85,389. The firm has a fifty day moving average of $76.08 and a two-hundred day moving average of $74.11. Preferred Bank has a twelve month low of $54.21 and a twelve month high of $81.13. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 7.32 and a beta of 0.98. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.21.

Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Tuesday, April 23rd. The bank reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. Preferred Bank had a net margin of 28.70% and a return on equity of 21.28%. The business had revenue of $71.57 million for the quarter, compared to analyst estimates of $68.60 million. On average, sell-side analysts forecast that Preferred Bank will post 9.6 earnings per share for the current year.

Preferred Bank Company Profile

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.