Preferred Bank (NASDAQ:PFBC) to Issue Quarterly Dividend of $0.80

Preferred Bank (NASDAQ:PFBC) declared a quarterly dividend on Wednesday, September 16th. Stockholders of record on Monday, October 5th will be paid a dividend of 0.80 per share by the bank on Monday, October 19th. This represents a c) dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, October 5th.

Preferred Bank has increased its dividend payment by an average of 0.2%annually 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% meaning its dividend is sufficiently covered by earnings. Analysts expect Preferred Bank to earn $10.94 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 29.3%.

Preferred Bank Stock Up 0.3%

Shares of Preferred Bank stock opened at $106.18 on Thursday. The stock’s 50-day moving average is $104.95 and its 200 day moving average is $98.48. Preferred Bank has a one year low of $81.50 and a one year high of $112.26. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 9.71 and a beta of 0.54. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.08 and a quick ratio of 1.08.

Preferred Bank (NASDAQ:PFBC) last issued its earnings results on Wednesday, July 22nd. The bank reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.13. Preferred Bank had a return on equity of 17.27% and a net margin of 26.54%.The business had revenue of $73.47 million during the quarter, compared to the consensus estimate of $73.60 million. Equities research analysts anticipate that Preferred Bank will post 10.71 EPS for the current year.

Preferred Bank Company Profile

Preferred Bank (NASDAQ: PFBC) is a California-chartered commercial bank headquartered in Los Angeles. Founded in 1991, the bank provides banking and financial services to businesses, professionals and individuals, with a particular focus on small and middle-market companies and the Chinese-American community.

The bank offers commercial and industrial loans, commercial real estate financing, construction loans, small business lending, residential mortgage loans and consumer credit. Its deposit products include checking, savings, money market and time deposit accounts, along with treasury management, online banking and other cash-management services for business customers.

Preferred Bank serves customers through a network of branches and offices in California and the New York metropolitan area, including markets in Southern California, Northern California and communities in the New York region.