Preferred Bank (NASDAQ:PFBC – Get Free Report) announced a quarterly dividend on Thursday, September 19th, Zacks reports. Investors 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 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Monday, October 7th.
Preferred Bank has increased its dividend by an average of 22.4% annually over the last three years. Preferred Bank has a payout ratio of 31.4% meaning its dividend is sufficiently covered by earnings. 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 Trading Down 2.7 %
Shares of NASDAQ PFBC opened at $80.95 on Friday. The business has a fifty day moving average price of $80.89 and a 200 day moving average price of $77.18. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.07 and a quick ratio of 1.07. Preferred Bank has a 1-year low of $58.52 and a 1-year high of $91.67. The stock has a market capitalization of $1.17 billion, a P/E ratio of 7.81 and a beta of 0.96.
Analyst Ratings Changes
A number of research analysts have issued reports on PFBC shares. Stephens upped their price target on shares of Preferred Bank from $84.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Piper Sandler upped their target price on Preferred Bank from $88.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, July 29th.
Read Our Latest Analysis on PFBC
About Preferred Bank
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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