PCB Bancorp (PCB) to Issue Quarterly Dividend of $0.18 on August 16th

PCB Bancorp (NASDAQ:PCB) announced a quarterly dividend on Wednesday, July 24th, Zacks reports. Investors of record on Friday, August 9th will be given a dividend of 0.18 per share on Friday, August 16th. This represents a $0.72 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Friday, August 9th.

PCB Bancorp has raised its dividend payment by an average of 19.9% per year over the last three years. PCB Bancorp has a payout ratio of 37.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect PCB Bancorp to earn $1.85 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 38.9%.

PCB Bancorp Price Performance

Shares of PCB stock traded up $0.26 during mid-day trading on Wednesday, hitting $17.29. 24,832 shares of the stock traded hands, compared to its average volume of 21,344. PCB Bancorp has a twelve month low of $14.50 and a twelve month high of $20.22. The firm has a market cap of $246.68 million, a price-to-earnings ratio of 9.88 and a beta of 0.67. The company’s 50-day simple moving average is $16.24 and its 200-day simple moving average is $16.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.08 and a current ratio of 1.08.

Insiders Place Their Bets

In other PCB Bancorp news, Director Sang Young Lee purchased 2,702 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were purchased at an average price of $15.21 per share, for a total transaction of $41,097.42. Following the completion of the purchase, the director now directly owns 1,488,407 shares of the company’s stock, valued at $22,638,670.47. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have acquired 16,749 shares of company stock worth $251,383 over the last 90 days. Corporate insiders own 25.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Piper Sandler lowered their price target on PCB Bancorp from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Keefe, Bruyette & Woods increased their price target on shares of PCB Bancorp from $17.00 to $20.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th.

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.