Preferred Bank (PFBC) to Issue Quarterly Dividend of $0.75 on April 21st

Preferred Bank (NASDAQ:PFBC) declared a quarterly dividend on Wednesday, March 19th, RTT News reports. Shareholders of record on Monday, April 7th will be paid a dividend of 0.75 per share by the bank on Monday, April 21st. This represents a $3.00 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Monday, April 7th.

Preferred Bank has increased its dividend payment by an average of 22.0% per year over the last three years. Preferred Bank has a payout ratio of 29.6% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 1.8 %

PFBC opened at $76.01 on Friday. 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 has a 52 week low of $70.99 and a 52 week high of $99.78. The business’s 50 day moving average is $86.53 and its two-hundred day moving average is $86.85. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 7.89 and a beta of 0.71.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings data on Monday, January 27th. The bank reported $2.25 earnings per share (EPS) 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%. On average, research analysts predict that Preferred Bank will post 9.81 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on PFBC. Piper Sandler boosted their target price on Preferred Bank from $101.00 to $111.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Stephens reissued an “equal weight” rating and issued a $100.00 target price on shares of Preferred Bank in a report on Thursday, January 30th. Finally, DA Davidson boosted their target price on shares of Preferred Bank from $98.00 to $101.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th.

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.