Posted by admin on May 6th, 2022 
Analysts expect PCB Bancorp (NASDAQ:PCB – Get Rating) to report $25.90 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for PCB Bancorp’s earnings. PCB Bancorp reported sales of $24.15 million during the same quarter last year, which indicates a positive year over year growth rate of 7.2%. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that PCB Bancorp will report full year sales of $105.65 million for the current year, with estimates ranging from $105.40 million to $105.90 million. For the next year, analysts forecast that the company will post sales of $117.60 million, with estimates ranging from $116.20 million to $119.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover PCB Bancorp.
PCB Bancorp (NASDAQ:PCB – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.08. PCB Bancorp had a net margin of 40.19% and a return on equity of 16.88%.
A number of brokerages recently weighed in on PCB. Raymond James downgraded shares of PCB Bancorp from an “outperform” rating to a “market perform” rating in a 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 report on Friday, April 8th.
Shares of NASDAQ:PCB opened at $21.32 on Friday. The company’s 50-day moving average is $22.15 and its 200 day moving average is $22.50. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.02 and a current ratio of 1.04. The company has a market capitalization of $318.63 million, a P/E ratio of 7.78 and a beta of 0.77. PCB Bancorp has a fifty-two week low of $15.04 and a fifty-two week high of $26.04.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 20th. Shareholders of record on Friday, May 13th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Thursday, May 12th. PCB Bancorp’s dividend payout ratio (DPR) is presently 21.90%.
In related news, Director Janice Chung purchased 8,700 shares of the firm’s stock in a transaction dated Tuesday, March 1st. The shares were purchased at an average cost of $22.70 per share, for a total transaction of $197,490.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sang Young Lee purchased 17,000 shares of the firm’s stock in a transaction dated Tuesday, February 22nd. The shares were bought at an average price of $23.81 per share, for a total transaction of $404,770.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 28,639 shares of company stock worth $669,611. Insiders own 24.05% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in PCB. Royal Bank of Canada increased its position in shares of PCB Bancorp by 96.1% during the second quarter. Royal Bank of Canada now owns 2,716 shares of the company’s stock valued at $43,000 after buying an additional 1,331 shares during the period. Citadel Advisors LLC bought a new position in shares of PCB Bancorp in the second quarter worth approximately $251,000. Russell Investments Group Ltd. increased its position in shares of PCB Bancorp by 62.7% in the third quarter. Russell Investments Group Ltd. now owns 325,083 shares of the company’s stock worth $6,470,000 after purchasing an additional 125,279 shares during the last quarter. American Century Companies Inc. increased its position in shares of PCB Bancorp by 16.6% in the third quarter. American Century Companies Inc. now owns 31,512 shares of the company’s stock worth $627,000 after purchasing an additional 4,482 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of PCB Bancorp by 39.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,695 shares of the company’s stock worth $372,000 after purchasing an additional 5,308 shares during the last quarter. Hedge funds and other institutional investors own 37.85% of the company’s stock.
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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