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

Preferred Bank (NASDAQ:PFBC) announced a quarterly dividend on Wednesday, June 17th. Stockholders of record on Tuesday, July 7th will be given a dividend of 0.80 per share by the bank on Tuesday, July 21st. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, July 7th.

Preferred Bank has increased its dividend by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 5 years. Preferred Bank has a dividend payout ratio of 32.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Preferred Bank to earn $11.15 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 28.7%.

Preferred Bank Trading Down 1.8%

NASDAQ PFBC opened at $98.39 on Thursday. The business’s fifty day moving average is $95.16 and its 200-day moving average is $93.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.07 and a quick ratio of 1.06. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 9.21 and a beta of 0.56. Preferred Bank has a one year low of $79.65 and a one year high of $103.05.

Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings results on Wednesday, April 22nd. The bank reported $2.53 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.05. The company had revenue of $69.62 million for the quarter, compared to the consensus estimate of $71.76 million. Preferred Bank had a net margin of 26.49% and a return on equity of 17.52%. Equities research analysts predict that Preferred Bank will post 10.58 EPS for the current year.

Institutional Trading of Preferred Bank

Hedge funds and other institutional investors have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Preferred Bank by 675.6% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 24,417 shares of the bank’s stock valued at $2,395,000 after purchasing an additional 21,269 shares during the period. Tudor Investment Corp ET AL raised its position in shares of Preferred Bank by 65.0% in the third quarter. Tudor Investment Corp ET AL now owns 27,921 shares of the bank’s stock valued at $2,524,000 after purchasing an additional 10,998 shares during the period. Denali Advisors LLC raised its position in shares of Preferred Bank by 48.0% in the fourth quarter. Denali Advisors LLC now owns 50,600 shares of the bank’s stock valued at $4,778,000 after purchasing an additional 16,400 shares during the period. American Century Companies Inc. raised its position in shares of Preferred Bank by 15.7% in the third quarter. American Century Companies Inc. now owns 337,804 shares of the bank’s stock valued at $30,534,000 after purchasing an additional 45,946 shares during the period. Finally, Dynamic Technology Lab Private Ltd raised its position in shares of Preferred Bank by 316.8% in the third quarter. Dynamic Technology Lab Private Ltd now owns 10,212 shares of the bank’s stock valued at $923,000 after purchasing an additional 7,762 shares during the period. Institutional investors own 72.77% of the company’s stock.

About Preferred Bank

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.