Preferred Bank (NASDAQ:PFBC - Get Free Report) announced a quarterly dividend on Wednesday, March 19th, RTT News reports. Shareholders of record on Monday, April 7th will be paid a dividend of 0.75 per share by the bank on Monday, April 21st. This represents a $3.00 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Monday, April 7th.
Preferred Bank has raised its dividend payment by an average of 22.0% annually over the last three years. Preferred Bank has a dividend payout ratio of 29.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Preferred Bank to earn $10.20 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 29.4%.
Preferred Bank Stock Performance
PFBC traded up $0.49 on Friday, reaching $84.43. 284,917 shares of the stock were exchanged, compared to its average volume of 76,058. The company's 50-day moving average price is $87.11 and its 200 day moving average price is $86.62. Preferred Bank has a fifty-two week low of $70.99 and a fifty-two week high of $99.78. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $1.22 billion, a PE ratio of 8.77 and a beta of 0.93.
Preferred Bank (NASDAQ:PFBC - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The bank reported $2.25 EPS for the quarter, missing analysts' consensus estimates of $2.42 by ($0.17). Preferred Bank had a return on equity of 17.80% and a net margin of 25.00%. As a group, sell-side analysts forecast that Preferred Bank will post 9.81 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have commented on PFBC shares. Piper Sandler lifted their price target on Preferred Bank from $101.00 to $111.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Stephens reissued an "equal weight" rating and issued a $100.00 price objective on shares of Preferred Bank in a report on Thursday, January 30th. Finally, DA Davidson boosted their price objective on Preferred Bank from $98.00 to $101.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th.
Check Out Our Latest Report on PFBC
About Preferred Bank
(
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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.
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