Preferred Bank (PFBC) To Go Ex-Dividend on October 7th

Preferred Bank (NASDAQ:PFBC) announced a quarterly dividend on Thursday, September 19th, Zacks reports. Stockholders of record on Monday, October 7th will be given a dividend of 0.70 per share by the bank on Monday, October 21st. This represents a $2.80 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Monday, October 7th.

Preferred Bank has raised its dividend payment by an average of 22.4% per year over the last three years. Preferred Bank has a payout ratio of 31.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Preferred Bank to earn $8.91 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 31.4%.

Preferred Bank Stock Performance

Shares of PFBC opened at $79.84 on Friday. The business has a 50-day simple moving average of $79.75 and a two-hundred day simple moving average of $77.61. 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 has a 52 week low of $58.52 and a 52 week high of $91.67. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 7.71 and a beta of 0.95.

Preferred Bank (NASDAQ:PFBC) last released its earnings results on Thursday, July 25th. The bank reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.09. The company had revenue of $130.70 million for the quarter, compared to analysts’ expectations of $70.55 million. Preferred Bank had a net margin of 27.35% and a return on equity of 20.24%. During the same quarter last year, the business earned $2.61 EPS. On average, analysts expect that Preferred Bank will post 9.61 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PFBC shares. Piper Sandler lifted their target price on shares of Preferred Bank from $88.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Stephens raised their price target on Preferred Bank from $84.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th.

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. 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.