PCB Bancorp (NASDAQ:PCB) Posts Earnings Results, Beats Estimates By $0.07 EPS

PCB Bancorp (NASDAQ:PCB) posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07, Zacks reports. The company had revenue of $30.18 million for the quarter, compared to analyst estimates of $31.10 million. PCB Bancorp had a return on equity of 12.70% and a net margin of 19.03%.

PCB Bancorp Stock Performance

Shares of PCB opened at $24.82 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.07. The stock has a 50 day moving average price of $23.63 and a two-hundred day moving average price of $22.76. PCB Bancorp has a 52 week low of $18.78 and a 52 week high of $25.15. The firm has a market capitalization of $353.19 million, a P/E ratio of 8.93 and a beta of 0.53.

PCB Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.88 annualized dividend and a yield of 3.5%. PCB Bancorp’s dividend payout ratio (DPR) is presently 31.65%.

Insider Transactions at PCB Bancorp

In other PCB Bancorp news, Director Sang Young Lee bought 2,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were purchased at an average price of $22.75 per share, for a total transaction of $45,500.00. Following the purchase, the director directly owned 1,592,961 shares of the company’s stock, valued at approximately $36,239,862.75. This represents a 0.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have bought 5,119 shares of company stock valued at $115,420. Corporate insiders own 27.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co raised its stake in shares of PCB Bancorp by 45.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,447 shares of the company’s stock worth $31,000 after purchasing an additional 453 shares during the period. Russell Investments Group Ltd. grew its position in PCB Bancorp by 3,769.6% during the second 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 grew 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 valued at $40,000 after buying an additional 898 shares during the period. BNP Paribas Financial Markets increased its holdings in PCB Bancorp by 273.4% during the third quarter. BNP Paribas Financial Markets now owns 3,939 shares of the company’s stock worth $83,000 after buying an additional 2,884 shares during the last quarter. Finally, Strs Ohio purchased a new stake in PCB Bancorp during the first quarter worth about $94,000. Institutional investors own 33.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wall Street Zen downgraded PCB Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Piper Sandler raised their target price on PCB Bancorp from $25.50 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Zacks Research downgraded PCB Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 2nd. Finally, Weiss Ratings raised PCB Bancorp from a “buy (b)” rating to a “buy (a-)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, PCB Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $25.50.

PCB Bancorp Company Profile

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.