Preferred Bank (NASDAQ:PFBC) to Issue Quarterly Dividend of $0.75

Preferred Bank (NASDAQ:PFBC) declared a quarterly dividend on Wednesday, March 19th, RTT News reports. Stockholders 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 dividend yield of 3.57%.

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

Shares of PFBC stock traded up $1.11 on Wednesday, hitting $84.04. 100,636 shares of the stock were exchanged, compared to its average volume of 75,046. Preferred Bank has a fifty-two week low of $70.83 and a fifty-two week high of $99.78. The firm has a market capitalization of $1.21 billion, a P/E ratio of 8.73 and a beta of 0.93. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average of $87.11 and a 200 day moving average of $86.61.

Preferred Bank (NASDAQ:PFBC) last released its earnings results 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%. Equities analysts anticipate that Preferred Bank will post 9.81 EPS for the current year.

Wall Street Analyst Weigh In

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

Preferred Bank Company Profile

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.