Preferred Bank (PFBC) to Distribute Quarterly Dividend of $0.80 on July 21st

Preferred Bank (NASDAQ:PFBC) announced a quarterly dividend on Wednesday, June 17th. Shareholders of record on Tuesday, July 7th will be paid a dividend of 0.80 per share by the bank on Tuesday, July 21st. This represents a c) annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, July 7th.

Preferred Bank has raised its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 5 years. Preferred Bank has a dividend payout ratio of 32.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Preferred Bank to earn $11.20 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 28.6%.

Preferred Bank Price Performance

PFBC opened at $107.16 on Friday. Preferred Bank has a twelve month low of $81.50 and a twelve month high of $112.26. The company’s 50-day moving average price is $97.49 and its two-hundred day moving average price is $94.20. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 10.03 and a beta of 0.55. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.45.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings results on Wednesday, April 22nd. The bank reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.05. The company had revenue of $69.62 million during the quarter, compared to analyst estimates of $71.76 million. Preferred Bank had a net margin of 26.49% and a return on equity of 17.52%. As a group, equities analysts expect that Preferred Bank will post 10.67 earnings per share for the current year.

About Preferred Bank

Preferred Bank (NASDAQ: PFBC) is a California-chartered commercial bank headquartered in Los Angeles. The institution offers a full range of banking products and services to businesses and individuals, with a particular emphasis on commercial real estate lending, business banking, treasury management and deposit accounts. Preferred Bank operates through branch offices across Southern California and national loan production offices in major U.S. markets.

The bank’s core lending portfolio focuses on commercial real estate acquisition, development and investment properties.