Preferred Bank Announces Approval to Continue Share Repurchase Plan
Preferred Bank (PFBC)
Last preferred bank earnings: 4/22 04:05 pm
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US:NASDAQ Investor Relations:
1firstbank.com/pr/en/help-center/investor-relations
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Source: GlobeNewswire
LOS ANGELES, March 18, 2025 (GLOBE NEWSWIRE) -- Preferred Bank (NASDAQ: PFBC), (“the Bank”), an independent commercial bank, today announced that the Bank has received regulatory approval to continue its shareholder-approved $150 million stock Repurchase Plan, (“the Plan”). Thus far in the Plan, the Bank has repurchased $84.3 million of its common stock during 2023 and 2024, however regulatory approval expired in January of 2025. As a state, non-member Bank that issues its common stock at the bank level (no holding company), Preferred Bank is required to seek regulatory approval to engage in transactions that either increase or decrease capital. The shareholder and regulatory approvals to repurchase the remaining $65.7 million of common stock will expire in May of 2025. During this repurchase program, the Bank has repurchased 1.3 million shares at an average price of $63.94 per share. Stock repurchases under this Plan will be made in the open market. About Preferred Bank Preferre
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News
- Preferred Bank raises annual dividend by 6.7% to $3.20 a share [Seeking Alpha]Seeking Alpha
- Preferred Bank Announces Dividend IncreaseGlobeNewswire
- Will Margin Compression And Earnings Declines Change Preferred Bank's (PFBC) Profit Resilience Narrative? [Yahoo! Finance]Yahoo! Finance
- 3 Reasons to Avoid PFBC and 1 Stock to Buy Instead [Yahoo! Finance]Yahoo! Finance
- Preferred Bank (NASDAQ:PFBC) had its "buy (b-)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat