Key Points
- Director Sang Young Lee purchased 3,027 shares on February 27 at an average price of $22.43 for a total of $67,895.61, bringing his holdings to 1,590,869 shares (a 0.19% increase).
- Dividend raised: PCB Bancorp increased its quarterly dividend to $0.22 per share (from $0.20), an $0.88 annualized payout with a ~3.9% yield and a payout ratio of 34.24%.
- Recent results showed EPS of $0.64 beating estimates of $0.61 while revenue was roughly in line, the company has a market cap of $319.7M and a P/E of 8.72, and analysts carry a consensus "Moderate Buy" with an average target of $24.50.
PCB Bancorp (NASDAQ:PCB - Get Free Report) Director Sang Young Lee purchased 3,027 shares of the stock in a transaction dated Friday, February 27th. The stock was bought at an average cost of $22.43 per share, with a total value of $67,895.61. Following the completion of the purchase, the director owned 1,590,869 shares in the company, valued at $35,683,191.67. The trade was a 0.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Sang Young Lee also recently made the following trade(s):
- On Monday, February 23rd, Sang Young Lee acquired 5,000 shares of PCB Bancorp stock. The shares were purchased at an average cost of $22.48 per share, for a total transaction of $112,400.00.
PCB Bancorp Stock Performance
Shares of NASDAQ PCB opened at $22.42 on Tuesday. PCB Bancorp has a 52-week low of $16.00 and a 52-week high of $24.20. The stock has a market cap of $319.71 million, a P/E ratio of 8.72 and a beta of 0.55. The firm has a 50 day moving average price of $22.43 and a 200 day moving average price of $21.87.
PCB Bancorp (NASDAQ:PCB - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.03. PCB Bancorp had a net margin of 17.89% and a return on equity of 12.15%. The company had revenue of $29.17 million for the quarter, compared to analysts' expectations of $29.33 million. Analysts predict that PCB Bancorp will post 2.04 earnings per share for the current fiscal year.
PCB Bancorp Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 13th were issued a dividend of $0.22 per share. This is a boost from PCB Bancorp's previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 3.9%. The ex-dividend date was Friday, February 13th. PCB Bancorp's dividend payout ratio is presently 34.24%.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded PCB Bancorp from a "hold" rating to a "buy" rating in a report on Saturday, November 15th. Zacks Research upgraded shares of PCB Bancorp from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 3rd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of PCB Bancorp in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $24.50.
Check Out Our Latest Research Report on PCB
Hedge Funds Weigh In On PCB Bancorp
A number of institutional investors have recently added to or reduced their stakes in PCB. CANADA LIFE ASSURANCE Co grew its position in shares of PCB Bancorp by 45.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,447 shares of the company's stock valued at $31,000 after acquiring an additional 453 shares during the period. Rhumbline Advisers raised its holdings in shares of PCB Bancorp by 4.9% in the 2nd quarter. Rhumbline Advisers now owns 16,056 shares of the company's stock valued at $337,000 after purchasing an additional 750 shares during the period. CWM LLC lifted its stake in PCB Bancorp by 61.5% in the 2nd quarter. CWM LLC now owns 2,046 shares of the company's stock valued at $43,000 after purchasing an additional 779 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in PCB Bancorp by 28.0% during the third quarter. PNC Financial Services Group Inc. now owns 4,033 shares of the company's stock worth $85,000 after purchasing an additional 882 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in PCB Bancorp by 88.2% during the second 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 during the last quarter. 33.04% of the stock is currently owned by institutional investors and hedge funds.
PCB Bancorp Company Profile
(
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.
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