PCB Bancorp (NASDAQ:PCB) Posts Earnings Results, Hits Expectations

PCB Bancorp (NASDAQ:PCB) announced its earnings results on Thursday. The company reported $0.46 earnings per share for the quarter, hitting the consensus estimate 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 0.4 %

PCB stock traded up $0.07 during midday trading on Thursday, reaching $19.05. The stock had a trading volume of 20,378 shares, compared to its average volume of 20,099. PCB Bancorp has a 52-week low of $14.50 and a 52-week high of $22.20. The company’s fifty day simple moving average is $20.30 and its 200 day simple moving average is $19.26. The company has a market cap of $271.79 million, a price-to-earnings ratio of 11.27 and a beta of 0.71.

PCB Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 14th will be paid a $0.20 dividend. This is an increase from PCB Bancorp’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 4.20%. PCB Bancorp’s dividend payout ratio is currently 42.60%.

Insider Transactions at PCB Bancorp

In related news, Director Don Rhee acquired 7,300 shares of the stock in a transaction on Friday, November 29th. The shares were bought at an average price of $21.22 per share, with a total value of $154,906.00. Following the completion of the purchase, the director now owns 399,144 shares of the company’s stock, valued at approximately $8,469,835.68. This represents a 1.86 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sang Young Lee bought 8,174 shares of the company’s stock in a transaction on Monday, November 18th. The stock was bought at an average price of $20.74 per share, with a total value of $169,528.76. Following the completion of the acquisition, the director now owns 1,517,708 shares in the company, valued at $31,477,263.92. This represents a 0.54 % 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 90 days. 25.01% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on PCB. Keefe, Bruyette & Woods boosted their price target 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 upped their price target on shares of PCB Bancorp from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th.

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.