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

Preferred Bank (NASDAQ:PFBC) declared a quarterly dividend on Thursday, June 20th, Zacks reports. Stockholders of record on Friday, July 5th will be paid a dividend of 0.70 per share by the bank on Friday, July 19th. This represents a $2.80 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Friday, July 5th.

Preferred Bank has increased 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. Research 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 Price Performance

NASDAQ:PFBC traded down $0.60 during trading hours on Wednesday, reaching $75.24. 2,231 shares of the company were exchanged, compared to its average volume of 85,390. The business has a 50 day moving average of $76.08 and a 200 day moving average of $74.11. Preferred Bank has a 1-year low of $54.21 and a 1-year high of $81.13. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $1.09 billion, a P/E ratio of 7.26 and a beta of 0.98.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings data 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. The firm had revenue of $71.57 million for the quarter, compared to the consensus estimate of $68.60 million. Preferred Bank had a net margin of 28.70% and a return on equity of 21.28%. Research analysts forecast that Preferred Bank will post 9.6 EPS for the current year.

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 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.