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

Preferred Bank (NASDAQ:PFBC) announced a quarterly dividend on Thursday, June 20th, Zacks reports. Investors of record on Friday, July 5th will be paid a dividend of 0.70 per share by the bank on Friday, July 19th. This represents a $2.80 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Friday, July 5th.

Preferred Bank has raised its dividend payment by an average of 22.4% annually over the last three years. Preferred Bank has a dividend payout ratio of 30.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Preferred Bank to earn $9.05 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 30.9%.

Preferred Bank Stock Performance

Shares of PFBC stock opened at $74.68 on Thursday. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 7.21 and a beta of 0.98. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. The business’s 50-day moving average price is $76.03 and its 200-day moving average price is $74.11. Preferred Bank has a 12 month low of $54.21 and a 12 month high of $81.13.

Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Tuesday, April 23rd. The bank reported $2.44 EPS for the quarter, topping the consensus estimate of $2.40 by $0.04. Preferred Bank had a net margin of 28.70% and a return on equity of 21.28%. The business had revenue of $71.57 million for the quarter, compared to the consensus estimate of $68.60 million. Equities research analysts forecast that Preferred Bank will post 9.6 EPS for the current year.

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 in the United States. 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.