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

Preferred Bank (NASDAQ:PFBC) announced a quarterly dividend on Thursday, December 26th,RTT News reports. Shareholders of record on Thursday, January 9th will be given a dividend of 0.75 per share by the bank on Thursday, January 23rd. This represents a $3.00 annualized dividend and a yield of 3.43%. This is a boost from Preferred Bank’s previous quarterly dividend of $0.70.

Preferred Bank has raised its dividend by an average of 22.4% per year over the last three years. Preferred Bank has a payout ratio of 31.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Preferred Bank to earn $8.82 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 31.7%.

Preferred Bank Stock Performance

NASDAQ:PFBC opened at $87.34 on Friday. Preferred Bank has a twelve month low of $66.88 and a twelve month high of $99.78. The company has a market capitalization of $1.26 billion, a P/E ratio of 8.75 and a beta of 0.96. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average price of $90.40 and a two-hundred day moving average price of $83.01.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings data on Monday, October 21st. The bank reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.39 by $0.07. The company had revenue of $132.88 million during the quarter, compared to the consensus estimate of $68.80 million. Preferred Bank had a net margin of 26.20% and a return on equity of 19.01%. During the same quarter in the prior year, the company posted $2.71 EPS. As a group, research analysts expect that Preferred Bank will post 9.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Stephens downgraded shares of Preferred Bank from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th.

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.