Preferred Bank (NASDAQ:PFBC) Declares $0.80 Quarterly Dividend

Preferred Bank (NASDAQ:PFBC) announced a quarterly dividend on Wednesday, March 18th. Shareholders of record on Tuesday, April 7th will be given a dividend of 0.80 per share by the bank on Tuesday, April 21st. This represents a c) dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Tuesday, April 7th.

Preferred Bank has increased its dividend by an average of 0.2%per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Preferred Bank has a payout ratio of 32.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Preferred Bank to earn $10.20 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 31.4%.

Preferred Bank Stock Performance

PFBC opened at $87.29 on Thursday. The business has a 50 day moving average price of $90.56 and a two-hundred day moving average price of $92.43. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 8.41 and a beta of 0.62. Preferred Bank has a 1-year low of $71.90 and a 1-year high of $103.05.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings results on Thursday, January 22nd. The bank reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.01. Preferred Bank had a return on equity of 17.31% and a net margin of 26.41%.The company had revenue of $78.07 million for the quarter, compared to analysts’ expectations of $74.54 million. Research analysts predict that Preferred Bank will post 9.81 EPS for the current fiscal year.

Preferred Bank Company Profile

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.