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

Preferred Bank (NASDAQ:PFBC) declared a quarterly dividend on Thursday, June 20th, Zacks reports. Investors 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 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date is Friday, July 5th.

Preferred Bank has increased its dividend by an average of 22.4% per year over the last three years. Preferred Bank has a 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 Stock Down 0.8 %

NASDAQ:PFBC traded down $0.60 on Wednesday, reaching $75.24. 2,231 shares of the stock traded hands, compared to its average volume of 85,390. The company’s fifty day simple moving average is $76.08 and its 200 day simple moving average is $74.11. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 7.26 and a beta of 0.98. Preferred Bank has a 12 month low of $54.21 and a 12 month high of $81.13. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21.

Preferred Bank (NASDAQ:PFBC) last announced its quarterly earnings results on Tuesday, April 23rd. The bank reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.04. The company had revenue of $71.57 million during 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%. Equities analysts predict that Preferred Bank will post 9.6 EPS for the current fiscal 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.