Preferred Bank Declares Quarterly Dividend of $0.75 (NASDAQ:PFBC)

Preferred Bank (NASDAQ:PFBCGet Free Report) announced a quarterly dividend on Wednesday, March 19th, RTT News reports. Investors of record on Monday, April 7th will be paid a dividend of 0.75 per share by the bank on Monday, April 21st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.57%.

Preferred Bank has raised its dividend by an average of 22.0% per year over the last three years. Preferred Bank has a dividend payout ratio of 29.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Preferred Bank to earn $10.20 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 29.4%.

Preferred Bank Trading Up 1.3 %

Shares of Preferred Bank stock traded up $1.11 during trading on Wednesday, reaching $84.04. 100,636 shares of the company were exchanged, compared to its average volume of 75,046. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.19. Preferred Bank has a twelve month low of $70.83 and a twelve month high of $99.78. The business has a 50-day moving average price of $87.11 and a 200-day moving average price of $86.61. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 8.73 and a beta of 0.93.

Preferred Bank (NASDAQ:PFBCGet Free Report) last announced its quarterly earnings data on Monday, January 27th. The bank reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.17). Preferred Bank had a return on equity of 17.80% and a net margin of 25.00%. Sell-side analysts anticipate that Preferred Bank will post 9.81 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on PFBC shares. Stephens reissued an “equal weight” rating and issued a $100.00 target price on shares of Preferred Bank in a research note on Thursday, January 30th. DA Davidson boosted their target price on Preferred Bank from $98.00 to $101.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, Piper Sandler boosted their target price on Preferred Bank from $101.00 to $111.00 and gave the company an “overweight” rating in a research note on Friday, January 31st.

Get Our Latest Report on PFBC

About Preferred Bank

(Get Free Report)

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. 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.

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Dividend History for Preferred Bank (NASDAQ:PFBC)

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