Preferred Bank (PFBC) To Go Ex-Dividend on July 7th

Preferred Bank (NASDAQ:PFBC) declared a quarterly dividend on Wednesday, June 17th. Shareholders of record on Tuesday, July 7th will be paid a dividend of 0.80 per share by the bank on Tuesday, July 21st. This represents a c) dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, July 7th.

Preferred Bank has increased its dividend by an average of 0.2%per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Preferred Bank has a dividend payout ratio of 32.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Preferred Bank to earn $11.15 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 28.7%.

Preferred Bank Trading Up 0.7%

PFBC stock opened at $99.04 on Friday. The company’s 50-day simple moving average is $95.31 and its 200-day simple moving average is $93.54. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.45. Preferred Bank has a 52-week low of $80.10 and a 52-week high of $103.05. The firm has a market cap of $1.43 billion, a P/E ratio of 9.27 and a beta of 0.56.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Wednesday, April 22nd. The bank reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.05. The firm had revenue of $69.62 million during the quarter, compared to analyst estimates of $71.76 million. Preferred Bank had a return on equity of 17.52% and a net margin of 26.49%. As a group, equities analysts forecast that Preferred Bank will post 10.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Preferred Bank

Hedge funds have recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Preferred Bank by 675.6% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 24,417 shares of the bank’s stock worth $2,395,000 after buying an additional 21,269 shares during the last quarter. Tudor Investment Corp ET AL increased its stake in shares of Preferred Bank by 65.0% in the 3rd quarter. Tudor Investment Corp ET AL now owns 27,921 shares of the bank’s stock worth $2,524,000 after acquiring an additional 10,998 shares during the last quarter. Denali Advisors LLC raised its holdings in shares of Preferred Bank by 48.0% during the 4th quarter. Denali Advisors LLC now owns 50,600 shares of the bank’s stock worth $4,778,000 after acquiring an additional 16,400 shares during the period. American Century Companies Inc. raised its holdings in shares of Preferred Bank by 15.7% during the 3rd quarter. American Century Companies Inc. now owns 337,804 shares of the bank’s stock worth $30,534,000 after acquiring an additional 45,946 shares during the period. Finally, Dynamic Technology Lab Private Ltd increased its position in Preferred Bank by 316.8% during the third quarter. Dynamic Technology Lab Private Ltd now owns 10,212 shares of the bank’s stock worth $923,000 after purchasing an additional 7,762 shares during the last quarter. Institutional investors and hedge funds own 72.77% of the company’s stock.

Preferred Bank Company Profile

Preferred Bank (NASDAQ: PFBC) is a California-chartered commercial bank headquartered in Los Angeles. The institution offers a full range of banking products and services to businesses and individuals, with a particular emphasis on commercial real estate lending, business banking, treasury management and deposit accounts. Preferred Bank operates through branch offices across Southern California and national loan production offices in major U.S. markets.

The bank’s core lending portfolio focuses on commercial real estate acquisition, development and investment properties.