Key Points
- Insider purchase: Director Sang Young Lee bought 5,000 shares on Feb. 23 at an average price of $22.48 (total $112,400), raising his stake to 1,587,842 shares (a 0.32% increase, ~ $35.7M value).
- Dividend increase: PCB Bancorp raised its quarterly dividend to $0.22 (annualized $0.88) for a ~3.9% yield, with the ex-dividend date Feb. 13 and a dividend payout ratio of 34.24%.
- Performance and outlook: Q4 EPS of $0.64 beat estimates of $0.61; the company has a market cap of ~$320M, a P/E of 8.73, a 52-week range of $16.00–$24.20, and a consensus analyst rating of "Moderate Buy" with an average target of $24.50.
PCB Bancorp (NASDAQ:PCB - Get Free Report) Director Sang Young Lee purchased 5,000 shares of the firm's stock in a transaction dated Monday, February 23rd. The stock was acquired at an average cost of $22.48 per share, with a total value of $112,400.00. Following the completion of the acquisition, the director directly owned 1,587,842 shares in the company, valued at approximately $35,694,688.16. This trade represents a 0.32% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
PCB Bancorp Stock Up 1.5%
PCB opened at $22.44 on Wednesday. The firm has a market cap of $319.99 million, a price-to-earnings ratio of 8.73 and a beta of 0.58. PCB Bancorp has a fifty-two week low of $16.00 and a fifty-two week high of $24.20. The company's 50-day moving average price is $22.47 and its 200 day moving average price is $21.84.
PCB Bancorp (NASDAQ:PCB - Get Free Report) last issued its earnings results on Thursday, January 29th. The company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.03. The company had revenue of $29.17 million during the quarter, compared to the consensus estimate of $29.33 million. PCB Bancorp had a return on equity of 12.15% and a net margin of 17.89%. Research analysts anticipate that PCB Bancorp will post 2.04 earnings per share for the current year.
PCB Bancorp Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 13th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Friday, February 13th. This is an increase from PCB Bancorp's previous quarterly dividend of $0.20. PCB Bancorp's dividend payout ratio (DPR) is currently 34.24%.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the stock. Zacks Research raised shares of PCB Bancorp from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 3rd. Wall Street Zen raised shares of PCB Bancorp from a "hold" rating to a "buy" rating in a report on Saturday, November 15th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of PCB Bancorp in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, PCB Bancorp currently has a consensus rating of "Moderate Buy" and an average price target of $24.50.
Get Our Latest Report on PCB
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of PCB. CANADA LIFE ASSURANCE Co raised its stake in shares of PCB Bancorp by 45.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,447 shares of the company's stock valued at $31,000 after purchasing an additional 453 shares in the last quarter. Russell Investments Group Ltd. increased its stake in PCB Bancorp by 3,769.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,780 shares of the company's stock valued at $37,000 after buying an additional 1,734 shares during the period. Tower Research Capital LLC TRC raised its position in shares of PCB Bancorp by 88.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,916 shares of the company's stock worth $40,000 after buying an additional 898 shares in the last quarter. CWM LLC raised its position in shares of PCB Bancorp by 61.5% during the 2nd quarter. CWM LLC now owns 2,046 shares of the company's stock worth $43,000 after buying an additional 779 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of PCB Bancorp by 1,033.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,151 shares of the company's stock worth $66,000 after acquiring an additional 2,873 shares during the period. 33.04% of the stock is owned by institutional investors and hedge funds.
About PCB Bancorp
(
Get Free Report)
PCB Bancorp is the bank holding company for Pacific City Bank, a California-chartered bank founded in 1999 and headquartered in Torrance, California. As the parent of an FDIC-insured institution, PCB Bancorp oversees a community-focused banking franchise that serves both retail customers and commercial enterprises. The company's strategy emphasizes personalized service and deep market knowledge to meet the evolving needs of individuals, families and businesses in Southern California.
Through its subsidiary Pacific City Bank, PCB Bancorp offers a broad range of financial products and services, including deposit accounts, commercial real estate and construction lending, residential mortgages, trade finance, treasury management and wealth advisory solutions.
Further Reading
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