Preferred Bank (NASDAQ:PFBC) declared a quarterly dividend on Wednesday, June 19th, NASDAQ reports. Investors of record on Monday, July 8th will be paid 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 yield of 2.41%. The ex-dividend date is Friday, July 5th.
Preferred Bank has increased its dividend payment by an average of 26.9% per year over the last three years and has raised its dividend every year for the last 4 years. Preferred Bank has a payout ratio of 25.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Preferred Bank to earn $5.44 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 22.1%.
NASDAQ:PFBC traded up $0.94 during mid-day trading on Friday, reaching $49.79. The stock had a trading volume of 76,337 shares, compared to its average volume of 81,145. The business has a 50-day simple moving average of $46.43. The stock has a market capitalization of $735.19 million, a PE ratio of 10.94, a PEG ratio of 0.94 and a beta of 1.20. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.23. Preferred Bank has a 12 month low of $39.87 and a 12 month high of $66.92.
A number of equities analysts have recently commented on the stock. DA Davidson cut their price target on shares of Skyworks Solutions to $95.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. ValuEngine raised shares of Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. BidaskClub raised shares of Zillow Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 2nd. B. Riley set a $75.00 price target on shares of Comerica and gave the company a “hold” rating in a research note on Thursday. Finally, Zacks Investment Research raised shares of DLH from a “sell” rating to a “hold” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Preferred Bank currently has an average rating of “Hold” and a consensus price target of $53.40.
About Preferred Bank
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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