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

Preferred Bank (NASDAQ:PFBC) announced a quarterly dividend on Thursday, June 20th, Zacks reports. Stockholders of record on Friday, July 5th will be given 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 dividend yield of 3.72%. The ex-dividend date 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 payout ratio of 30.7% meaning its dividend is sufficiently covered by earnings. 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 Trading Down 0.8 %

Shares of Preferred Bank stock traded down $0.60 on Wednesday, reaching $75.24. The company had a trading volume of 2,148 shares, compared to its average volume of 85,389. The firm’s 50 day moving average price is $76.08 and its two-hundred day moving average price is $74.11. The firm has a market cap of $1.09 billion, a PE ratio of 7.32 and a beta of 0.98. Preferred Bank has a 52-week low of $54.21 and a 52-week high of $81.13. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.07 and a current ratio of 1.07.

Preferred Bank (NASDAQ:PFBC) last announced its earnings results on Tuesday, April 23rd. The bank reported $2.44 earnings per share 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 firm had revenue of $71.57 million for the quarter, compared to the consensus estimate of $68.60 million. Sell-side analysts predict that Preferred Bank will post 9.6 earnings per share for the current fiscal 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.