Preferred Bank (NASDAQ:PFBC – Get 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.
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
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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