Preferred Bank Declares Quarterly Dividend of $0.70 (NASDAQ:PFBC)

Favorite 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 paid a dividend of 0.70 per share by the bank on Monday, October 21st. This represents a dividend of $2.80 on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Monday, October 7.

Preferred Bank has increased its dividend payout by an average of 22.4% per year over the last three years. Preferred Bank has a payout ratio of 31.4%, indicating that its dividend is sufficiently covered by earnings. Research analysts expect that Preferred Bank will earn $8.91 per share next year, which means the company should be able to continue to cover its $2.80 annual dividend with an estimated future payout ratio of 31. 4%

Preferred Bank Price Performance

NASDAQ PFBC opened at $80.95 on Friday. Preferred Bank has a fifty-two week low of $58.52 and a fifty-two week high of $91.67. The stock’s 50-day moving average is $80.89, and its two-hundred-day moving average is $77.18. The firm has a market cap of $1.17 billion, a P/E ratio of 7.81 and a beta of 0.96. 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 (NASDAQ:PFBC – Get Free Report ) last issued its earnings results on Thursday, July 25th. The bank reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.09. The business had revenue of $130.70 million for the quarter, compared to analyst estimates of $70.55 million. Preferred Bank had a net margin of 27.35% and a return on equity of 20.24%. During the same period last year, the business posted EPS of $2.61. On average, analysts anticipate that Preferred Bank will post 9.61 earnings per share for the current fiscal year.

Changes in Analyst Ratings

PFBC has been the subject of a number of research analyst reports. Stephens boosted their price target on Preferred Bank from $84.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Piper Sandler raised their price objective on shares of Preferred Bank from $88.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th.

Read the latest stock report on PFBC

About Preferred Bank

(Get a free report)

Preferred Bank offers various commercial banking products and services to small and medium-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; retail and non-retail fixed rate and fixed maturity certificates of deposit; and individual retirement accounts.

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