PCB Bancorp (NASDAQ:PCB) Announces Quarterly Earnings Results

PCB Bancorp (NASDAQ:PCB) posted its quarterly earnings results on Thursday. The company reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46, Zacks reports. PCB Bancorp had a return on equity of 8.68% and a net margin of 13.27%.

PCB Bancorp Trading Up 1.3 %

Shares of PCB Bancorp stock opened at $19.29 on Friday. The company has a market cap of $275.27 million, a price-to-earnings ratio of 11.41 and a beta of 0.71. PCB Bancorp has a 1 year low of $14.50 and a 1 year high of $22.20. The company’s fifty day simple moving average is $20.22 and its 200-day simple moving average is $19.28.

PCB Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 14th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.15%. This is a boost from PCB Bancorp’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, February 14th. PCB Bancorp’s dividend payout ratio is currently 42.60%.

Insider Buying and Selling at PCB Bancorp

In other PCB Bancorp news, Director Don Rhee purchased 7,300 shares of the business’s stock in a transaction on Friday, November 29th. The stock was purchased at an average price of $21.22 per share, for a total transaction of $154,906.00. Following the completion of the purchase, the director now directly owns 399,144 shares in the company, valued at approximately $8,469,835.68. This trade represents a 1.86 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sang Young Lee purchased 8,174 shares of the stock in a transaction on Monday, November 18th. The stock was bought at an average price of $20.74 per share, for a total transaction of $169,528.76. Following the completion of the transaction, the director now directly owns 1,517,708 shares of the company’s stock, valued at approximately $31,477,263.92. This trade represents a 0.54 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 31,374 shares of company stock valued at $660,622 in the last ninety days. Company insiders own 25.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PCB. Piper Sandler increased their price target on shares of PCB Bancorp from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Keefe, Bruyette & Woods lifted their price target on shares of PCB Bancorp from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

About PCB Bancorp

PCB Bancorp operates as the bank holding company for PCB 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 trade finance, remote deposit capture, courier deposit services, positive pay services, zero balance accounts, and sweep accounts.