PCB Bancorp (NASDAQ:PCB) Increases Dividend to $0.20 Per Share

PCB Bancorp (NASDAQ:PCB) announced a quarterly dividend on Thursday, January 30th,RTT News reports. Shareholders of record on Friday, February 14th will be paid a dividend of 0.20 per share on Friday, February 21st. This represents a $0.80 annualized dividend and a yield of 4.20%. This is an increase from PCB Bancorp’s previous quarterly dividend of $0.18.

PCB Bancorp has increased its dividend by an average of 17.8% per year over the last three years. PCB Bancorp has a dividend payout ratio of 30.8% meaning its dividend is sufficiently covered by earnings. Analysts expect PCB Bancorp to earn $1.99 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 36.2%.

PCB Bancorp Trading Up 0.4 %

PCB stock opened at $19.05 on Friday. PCB Bancorp has a 12-month low of $14.50 and a 12-month high of $22.20. The stock has a market capitalization of $271.84 million, a price-to-earnings ratio of 11.27 and a beta of 0.71. The firm’s 50-day moving average price is $20.27 and its two-hundred day moving average price is $19.26.

PCB Bancorp (NASDAQ:PCB) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46. PCB Bancorp had a return on equity of 8.68% and a net margin of 13.27%. Equities analysts predict that PCB Bancorp will post 1.78 EPS for the current year.

Analysts Set New Price Targets

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

Insider Activity at PCB Bancorp

In related news, CEO Henry Kim purchased 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average price of $21.44 per share, for a total transaction of $64,320.00. Following the purchase, the chief executive officer now directly owns 22,785 shares of the company’s stock, valued at approximately $488,510.40. This represents a 15.16 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sang Young Lee acquired 8,174 shares of the stock in a transaction on Monday, November 18th. The shares were bought at an average price of $20.74 per share, with a total value of $169,528.76. Following the purchase, the director now directly owns 1,517,708 shares of the company’s stock, valued at $31,477,263.92. The trade was a 0.54 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 31,374 shares of company stock worth $660,622 over the last ninety days. 25.01% of the stock is owned by corporate insiders.

PCB Bancorp Company Profile

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.