Preferred Bank (PFBC) To Go Ex-Dividend on January 9th

Preferred Bank (NASDAQ:PFBC) announced a quarterly dividend on Thursday, December 26th,RTT News reports. Stockholders of record on Thursday, January 9th will be given a dividend of 0.75 per share by the bank on Thursday, January 23rd. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Thursday, January 9th. This is an increase from Preferred Bank’s previous quarterly dividend of $0.70.

Preferred Bank has increased its dividend payment by an average of 22.4% per year over the last three years. Preferred Bank has a payout ratio of 31.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Preferred Bank to earn $8.82 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 31.7%.

Preferred Bank Price Performance

NASDAQ PFBC opened at $86.70 on Friday. The firm’s fifty day simple moving average is $90.46 and its two-hundred day simple moving average is $83.10. The firm has a market capitalization of $1.25 billion, a P/E ratio of 8.69 and a beta of 0.96. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.20. Preferred Bank has a 12-month low of $66.88 and a 12-month high of $99.78.

Preferred Bank (NASDAQ:PFBC) last announced its earnings results on Monday, October 21st. The bank reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.07. Preferred Bank had a return on equity of 19.01% and a net margin of 26.20%. The firm had revenue of $132.88 million for the quarter, compared to the consensus estimate of $68.80 million. During the same period in the previous year, the business earned $2.71 EPS. Analysts forecast that Preferred Bank will post 9.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Stephens cut shares of Preferred Bank from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 9th.

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.