Posted by admin on Apr 30th, 2022 
PCB Bancorp (NASDAQ:PCB – Get Rating) announced a quarterly dividend on Thursday, April 28th, Zacks reports. Shareholders of record on Friday, May 13th will be given a dividend of 0.15 per share on Friday, May 20th. This represents a $0.60 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Thursday, May 12th.
PCB Bancorp has increased its dividend payment by an average of 54.2% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. PCB Bancorp has a dividend payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Analysts expect PCB Bancorp to earn $2.61 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 23.0%.
PCB opened at $21.35 on Friday. PCB Bancorp has a one year low of $15.04 and a one year high of $26.04. The company has a market cap of $318.97 million, a price-to-earnings ratio of 7.79 and a beta of 0.77. The business’s fifty day moving average is $22.28 and its two-hundred day moving average is $22.44. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.02 and a current ratio of 1.04.
PCB Bancorp (NASDAQ:PCB – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.08. PCB Bancorp had a return on equity of 16.32% and a net margin of 40.14%. On average, analysts predict that PCB Bancorp will post 2.48 EPS for the current fiscal year.
In other news, Director Janice Chung bought 8,700 shares of PCB Bancorp stock in a transaction dated Tuesday, March 1st. The shares were acquired at an average cost of $22.70 per share, with a total value of $197,490.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sang Young Lee purchased 2,531 shares of the company’s stock in a transaction that occurred on Tuesday, February 1st. The stock was bought at an average price of $22.38 per share, with a total value of $56,643.78. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 31,170 shares of company stock worth $726,255. 22.54% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Royal Bank of Canada increased its stake in shares of 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 buying an additional 1,331 shares during the last quarter. Citigroup Inc. bought a new stake in PCB Bancorp during the fourth quarter valued at $125,000. Citadel Advisors LLC bought a new stake in PCB Bancorp during the second quarter valued at $251,000. Susquehanna International Group LLP increased its stake in PCB Bancorp by 35.4% during the fourth quarter. Susquehanna International Group LLP now owns 41,534 shares of the company’s stock valued at $912,000 after purchasing an additional 10,860 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in PCB Bancorp by 20.1% during the third quarter. Bank of New York Mellon Corp now owns 75,427 shares of the company’s stock valued at $1,502,000 after purchasing an additional 12,607 shares during the last quarter. Institutional investors and hedge funds own 38.17% of the company’s stock.
PCB has been the topic of a number of recent research reports. Raymond James cut shares of PCB Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 6th. Zacks Investment Research raised shares of PCB Bancorp from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Friday, April 8th.
About PCB Bancorp (Get Rating)
PCB Bancorp operates as the bank holding company for Pacific City Bank that provides various banking products and services to small to medium-sized businesses, individuals, and professionals in Southern California. The company 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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