Preferred Bank (NASDAQ:PFBC) announced a quarterly dividend on Wednesday, June 19th, NASDAQ reports. Stockholders of record on Monday, July 8th will be given a dividend of 0.30 per share by the bank on Monday, July 22nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Friday, July 5th.
Preferred Bank has raised its dividend by an average of 26.9% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Preferred Bank has a payout ratio of 25.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Preferred Bank to earn $5.46 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 22.0%.
Preferred Bank stock opened at $47.10 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.23. The business’s 50-day moving average price is $46.24. The stock has a market capitalization of $722.10 million, a price-to-earnings ratio of 10.35, a P/E/G ratio of 0.92 and a beta of 1.20. Preferred Bank has a 1-year low of $39.87 and a 1-year high of $69.48.
A number of research firms recently issued reports on PFBC. BidaskClub downgraded shares of Preferred Bank from a “hold” rating to a “sell” rating in a research note on Saturday, June 22nd. Zacks Investment Research downgraded shares of Preferred Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. ValuEngine raised shares of Preferred Bank from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 27th. Raymond James decreased their price target on shares of Preferred Bank from $60.00 to $58.00 and set a “strong-buy” rating for the company in a research note on Monday, April 22nd. Finally, DA Davidson downgraded shares of Preferred Bank from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $60.00 to $52.00 in a research note on Wednesday, June 5th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Preferred Bank currently has a consensus rating of “Hold” and a consensus target price of $56.80.
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's deposit products include 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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