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

PCB Bancorp (NASDAQ:PCB) announced a quarterly dividend on Wednesday, January 29th,RTT News reports. Shareholders of record on Friday, February 14th will be given a dividend of 0.20 per share on Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date is Friday, February 14th. This is a boost from PCB Bancorp’s previous quarterly dividend of $0.18.

PCB Bancorp has raised its dividend payment by an average of 17.8% annually over the last three years. PCB Bancorp has a payout ratio of 34.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect PCB Bancorp to earn $2.31 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 34.6%.

PCB Bancorp Trading Up 2.7 %

NASDAQ PCB opened at $20.70 on Wednesday. The stock has a market cap of $295.39 million, a PE ratio of 11.90 and a beta of 0.70. PCB Bancorp has a 12 month low of $14.50 and a 12 month high of $22.20. The company’s 50-day moving average price is $20.07 and its 200-day moving average price is $19.39.

PCB Bancorp (NASDAQ:PCB) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. PCB Bancorp had a net margin of 13.45% and a return on equity of 9.02%. As a group, sell-side analysts forecast that PCB Bancorp will post 2.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PCB shares. Piper Sandler lifted their price objective 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. Keefe, Bruyette & Woods upped their target price on PCB Bancorp from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Insider Activity at PCB Bancorp

In other news, CEO Henry Kim bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of $21.44 per share, with a total value of $64,320.00. Following the completion of the acquisition, the chief executive officer now directly owns 22,785 shares of the company’s stock, valued at $488,510.40. This trade represents a 15.16 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sang Young Lee purchased 8,174 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average price of $20.74 per share, for a total transaction of $169,528.76. Following the acquisition, the director now owns 1,517,708 shares in the company, valued at $31,477,263.92. This trade represents a 0.54 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 27,674 shares of company stock valued at $585,327 in the last three months. 25.01% of the stock is owned by insiders.

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.