Preferred Bank (NASDAQ:PFBC) Declares $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 annualized dividend and a yield of 3.57%.

Preferred Bank has increased its dividend by an average of 22.0% annually over the last three years. Preferred Bank has a payout ratio of 29.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 1.3 %

NASDAQ:PFBC opened at $84.04 on Thursday. The firm’s 50 day simple moving average is $87.08 and its 200 day simple moving average is $86.59. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.08 and a quick ratio of 1.08. Preferred Bank has a one year low of $70.99 and a one year high of $99.78. The company has a market cap of $1.21 billion, a PE ratio of 8.73 and a beta of 0.93.

Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Monday, January 27th. The bank reported $2.25 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 anticipate that Preferred Bank will post 9.81 earnings per share for the current year.

Analyst Ratings Changes

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

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.