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

Preferred Bank (NASDAQ:PFBC) announced a quarterly dividend on Thursday, June 20th, Zacks reports. Shareholders 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 yield of 3.75%. The ex-dividend date is Friday, July 5th.

Preferred Bank has raised its dividend by an average of 22.4% annually over the last three years. Preferred Bank has a dividend 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 Stock Performance

PFBC stock opened at $74.68 on Thursday. Preferred Bank has a twelve month low of $54.21 and a twelve month high of $81.13. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.21. The business’s fifty day simple moving average is $76.03 and its two-hundred day simple moving average is $74.11. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 7.21 and a beta of 0.98.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. Preferred Bank had a return on equity of 21.28% and a net margin of 28.70%. The business had revenue of $71.57 million for the quarter, compared to the consensus estimate of $68.60 million. Analysts predict that Preferred Bank will post 9.6 earnings per share for the current 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.