PCB Bancorp (NASDAQ:PCB) Releases Quarterly Earnings Results, Hits Estimates

PCB Bancorp (NASDAQ:PCB) released its earnings results on Thursday. The company reported $0.46 earnings per share for the quarter, meeting 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 Stock Performance

PCB opened at $19.05 on Friday. The stock’s 50 day moving average price is $20.27 and its 200-day moving average price is $19.26. PCB Bancorp has a 52-week low of $14.50 and a 52-week high of $22.20. The stock has a market capitalization of $271.84 million, a PE ratio of 11.27 and a beta of 0.71.

PCB Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 14th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.20%. This is a boost from PCB Bancorp’s previous quarterly dividend of $0.18. PCB Bancorp’s dividend payout ratio (DPR) is 42.60%.

Insider Buying and Selling

In other news, Director Sang Young Lee acquired 8,200 shares of the stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $21.46 per share, with a total value of $175,972.00. Following the completion of the transaction, the director now owns 1,526,207 shares of the company’s stock, valued at $32,752,402.22. This represents a 0.54 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Don Rhee bought 7,300 shares of PCB Bancorp stock in a transaction dated Friday, November 29th. The stock was acquired at an average cost of $21.22 per share, for a total transaction of $154,906.00. Following the completion of the transaction, 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 disclosure for this purchase can be found here. Insiders acquired 31,374 shares of company stock valued at $660,622 over the last quarter. 25.01% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PCB shares. Piper Sandler boosted their price objective on PCB Bancorp from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Keefe, Bruyette & Woods increased 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.