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

Preferred Bank (NASDAQ:PFBCGet Free Report) declared a quarterly dividend on Wednesday, June 17th. Investors 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 yield of 3.3%. The ex-dividend date is Tuesday, July 7th.

Preferred Bank has increased its dividend payment 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. 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 Price Performance

Shares of Preferred Bank stock opened at $98.39 on Thursday. The company has a 50-day simple moving average of $95.16 and a two-hundred day simple moving average of $93.51. Preferred Bank has a twelve month low of $79.65 and a twelve month high of $103.05. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 9.21 and a beta of 0.56. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.45.

Preferred Bank (NASDAQ:PFBCGet Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The bank reported $2.53 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.05. The company had revenue of $69.62 million during 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%. Analysts forecast that Preferred Bank will post 10.58 EPS for the current year.

Institutional Investors Weigh In On Preferred Bank

A number of large investors have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Preferred Bank by 675.6% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 24,417 shares of the bank’s stock worth $2,395,000 after buying an additional 21,269 shares in the last quarter. Tudor Investment Corp ET AL boosted its stake in 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 buying an additional 10,998 shares in the last quarter. Denali Advisors LLC grew its position in 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 acquiring an additional 16,400 shares during the last quarter. American Century Companies Inc. grew its position in 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 acquiring an additional 45,946 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its stake in Preferred Bank by 316.8% during the third quarter. Dynamic Technology Lab Private Ltd now owns 10,212 shares of the bank’s stock worth $923,000 after acquiring an additional 7,762 shares in the last quarter. Institutional investors and hedge funds own 72.77% of the company’s stock.

About Preferred Bank

(Get Free Report)

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.

See Also

Dividend History for Preferred Bank (NASDAQ:PFBC)

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