Preferred Bank (NASDAQ:PFBC) to Issue $0.75 Quarterly Dividend

Preferred Bank (NASDAQ:PFBC) announced 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 3.95%. The ex-dividend date is Monday, April 7th.

Preferred Bank has raised its dividend payment by an average of 22.0% annually over the last three years. Preferred Bank has a payout ratio of 29.6% indicating that its dividend is sufficiently covered by earnings. 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 Performance

NASDAQ:PFBC opened at $76.01 on Friday. The company has a market cap of $1.10 billion, a P/E ratio of 7.89 and a beta of 0.71. The firm’s 50 day moving average is $86.53 and its two-hundred day moving average is $86.85. Preferred Bank has a fifty-two week low of $70.99 and a fifty-two week high of $99.78. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.19.

Preferred Bank (NASDAQ:PFBC) last issued its earnings results on Monday, January 27th. The bank reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.17). Preferred Bank had a return on equity of 17.80% and a net margin of 25.00%. Analysts expect that Preferred Bank will post 9.81 EPS for the current year.

Wall Street Analysts Forecast Growth

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