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

Preferred Bank (NASDAQ:PFBCGet Free Report) declared a quarterly dividend on Wednesday, March 19th, RTT News reports. Investors of record on Monday, April 7th will be given 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 yield of 3.57%.

Preferred Bank has increased its dividend by an average of 22.0% annually over the last three years. Preferred Bank has a payout ratio of 29.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Up 1.3 %

PFBC stock opened at $84.04 on Thursday. The stock’s 50 day simple moving average is $87.08 and its 200 day simple moving average is $86.59. Preferred Bank has a fifty-two week low of $70.99 and a fifty-two week high of $99.78. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $1.21 billion, a P/E ratio of 8.73 and a beta of 0.93.

Preferred Bank (NASDAQ:PFBCGet Free Report) last posted its quarterly earnings results on Monday, January 27th. The bank reported $2.25 earnings per share 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%. On average, research analysts expect that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Read Our Latest Research Report on Preferred Bank

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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