Posted by admin on Apr 30th, 2022 
PCB Bancorp (NASDAQ:PCB – Get Rating) released its quarterly earnings results on Thursday. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.08, MarketWatch Earnings reports. PCB Bancorp had a net margin of 40.14% and a return on equity of 16.32%.
PCB opened at $21.35 on Friday. The stock has a market capitalization of $318.97 million, a P/E ratio of 7.79 and a beta of 0.77. PCB Bancorp has a 12 month low of $15.04 and a 12 month high of $26.04. The firm’s fifty day simple moving average is $22.28 and its 200 day simple moving average is $22.44. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.04.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 20th. Investors of record on Friday, May 13th will be given a $0.15 dividend. The ex-dividend date is Thursday, May 12th. This represents a $0.60 annualized dividend and a yield of 2.81%. PCB Bancorp’s dividend payout ratio is currently 21.90%.
In other PCB Bancorp news, Director Sang Young Lee purchased 17,000 shares of the stock in a transaction on Tuesday, February 22nd. The shares were purchased at an average cost of $23.81 per share, for a total transaction of $404,770.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Janice Chung purchased 8,700 shares of the stock in a transaction on Tuesday, March 1st. The stock was acquired at an average price of $22.70 per share, for a total transaction of $197,490.00. The disclosure for this purchase can be found here. Insiders purchased a total of 31,170 shares of company stock worth $726,255 over the last ninety days. 22.54% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in PCB. Royal Bank of Canada increased its stake in shares of PCB Bancorp by 96.1% during the 2nd 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 last quarter. Citigroup Inc. acquired a new position in shares of PCB Bancorp during the 4th quarter worth about $125,000. Citadel Advisors LLC acquired a new position in shares of PCB Bancorp during the 2nd quarter worth about $251,000. Susquehanna International Group LLP boosted its holdings in shares of PCB Bancorp by 35.4% during the 4th quarter. Susquehanna International Group LLP now owns 41,534 shares of the company’s stock worth $912,000 after buying an additional 10,860 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of PCB Bancorp by 20.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 75,427 shares of the company’s stock worth $1,502,000 after buying an additional 12,607 shares during the period. Institutional investors own 38.17% of the company’s stock.
Several research firms recently weighed in on PCB. Zacks Investment Research upgraded shares of PCB Bancorp from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Friday, April 8th. Raymond James lowered shares of PCB Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 6th.
PCB Bancorp Company Profile (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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