Preferred Bank (PFBC) to Issue Quarterly Dividend of $0.75 on April 21st

Preferred Bank (NASDAQ:PFBC) announced a quarterly dividend on Wednesday, March 19th, RTT News reports. Shareholders of record on Monday, April 7th will be paid 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%. The ex-dividend date is Monday, April 7th.

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. 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 Price Performance

Shares of Preferred Bank stock opened at $83.94 on Friday. The company’s 50-day moving average price is $87.05 and its two-hundred day moving average price is $86.57. 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 stock has a market cap of $1.21 billion, a PE ratio of 8.72 and a beta of 0.93. Preferred Bank has a 52 week low of $70.99 and a 52 week high of $99.78.

Preferred Bank (NASDAQ:PFBC) last released its earnings results on Monday, January 27th. The bank reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.17). Preferred Bank had a net margin of 25.00% and a return on equity of 17.80%. As a group, sell-side analysts anticipate that Preferred Bank will post 9.81 EPS for the current fiscal year.

Analyst Ratings Changes

PFBC has been the subject of a number of research analyst reports. Stephens reiterated an “equal weight” rating and set a $100.00 price target 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 company a “neutral” rating in a research note on Wednesday, January 29th. Finally, Piper Sandler upped their target price on Preferred Bank from $101.00 to $111.00 and gave the company an “overweight” rating in a research note 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.