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Wall Street analysts expect that PCB Bancorp (NASDAQ:PCB) will report sales of $25.40 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for PCB Bancorp’s earnings. PCB Bancorp posted sales of $21.93 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 15.8%. The business is scheduled to announce its next quarterly earnings results on Thursday, January 27th.
According to Zacks, analysts expect that PCB Bancorp will report full-year sales of $96.00 million for the current fiscal year. For the next fiscal year, analysts expect that the company will report sales of $99.40 million, with estimates ranging from $97.10 million to $101.70 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for PCB Bancorp.
PCB Bancorp (NASDAQ:PCB) last announced its quarterly earnings data on Wednesday, October 27th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.14. The firm had revenue of $25.82 million for the quarter, compared to the consensus estimate of $24.70 million. PCB Bancorp had a net margin of 35.89% and a return on equity of 14.66%.
Several research firms have issued reports on PCB. Zacks Investment Research upgraded shares of PCB Bancorp from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Wednesday, November 3rd. Raymond James raised their price objective on shares of PCB Bancorp from $21.00 to $24.00 and gave the stock an “outperform” rating in a research report on Monday, November 1st.
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In other PCB Bancorp news, Director Sang Young Lee acquired 10,719 shares of the business’s stock in a transaction dated Tuesday, November 23rd. The stock was bought at an average price of $22.48 per share, with a total value of $240,963.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired a total of 23,819 shares of company stock valued at $530,790 in the last ninety days. Insiders own 22.54% of the company’s stock.
A number of hedge funds have recently made changes to their positions in PCB. Royal Bank of Canada grew its stake in PCB Bancorp by 96.1% in the second quarter. Royal Bank of Canada now owns 2,716 shares of the company’s stock worth $43,000 after purchasing an additional 1,331 shares during the period. Jump Financial LLC purchased a new stake in shares of PCB Bancorp in the second quarter worth $214,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of PCB Bancorp in the second quarter worth $216,000. Citadel Advisors LLC purchased a new stake in shares of PCB Bancorp in the second quarter worth $251,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of PCB Bancorp in the second quarter worth $267,000. Hedge funds and other institutional investors own 33.36% of the company’s stock.
Shares of NASDAQ PCB opened at $21.93 on Monday. The firm has a 50 day simple moving average of $21.53. The company has a market cap of $325.49 million, a price-to-earnings ratio of 9.53 and a beta of 0.86. PCB Bancorp has a 1 year low of $10.00 and a 1 year high of $23.50. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 0.04.
The business also recently announced a quarterly dividend, which was paid on Friday, November 19th. Shareholders of record on Friday, November 12th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Wednesday, November 10th. PCB Bancorp’s payout ratio is presently 20.87%.
PCB Bancorp Company Profile
PCB Bancorp operates as the bank holding company for Pacific City Bank that provides various banking products and services to individuals, and small and middle market businesses in Southern California. The firm offers demand, savings, money market, and time deposits, as well as certificates of deposit; and remote deposit capture, courier deposit services, positive pay services, zero balance accounts, and sweep accounts.
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