Preferred Bank (NASDAQ:PFBC) Plans Quarterly Dividend of $0.75

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 of this dividend is Thursday, January 9th. This is an increase from Preferred Bank’s previous quarterly dividend of $0.70.

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 31.3% indicating that its dividend is sufficiently covered by earnings. 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 moving average is $90.46 and its two-hundred day moving average is $83.10. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 8.69 and a beta of 0.96. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.08 and a current ratio of 1.08. Preferred Bank has a one year low of $66.88 and a one year high of $99.78.

Preferred Bank (NASDAQ:PFBC) last posted its earnings results on Monday, October 21st. The bank reported $2.46 EPS 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 analyst estimates of $68.80 million. During the same period last year, the company earned $2.71 earnings per share. Research analysts expect that Preferred Bank will post 9.75 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Stephens downgraded shares of Preferred Bank from an “overweight” rating to an “equal weight” rating in a research report 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.