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

PCB Bancorp (NASDAQ:PCB) declared a quarterly dividend on Thursday, January 30th,RTT News reports. Investors 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 annualized dividend and a dividend yield of 4.20%. This is an increase from PCB Bancorp’s previous quarterly dividend of $0.18.

PCB Bancorp has increased its dividend payment 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 Stock Performance

Shares of NASDAQ:PCB traded up $0.07 during trading on Thursday, hitting $19.05. The company’s stock had a trading volume of 20,378 shares, compared to its average volume of 20,099. The stock’s 50-day moving average price is $20.30 and its two-hundred day moving average price is $19.26. PCB Bancorp has a fifty-two week low of $14.50 and a fifty-two week high of $22.20. The company has a market capitalization of $271.79 million, a PE ratio of 11.27 and a beta of 0.71.

PCB Bancorp (NASDAQ:PCB) last announced 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 return on equity of 8.68% and a net margin of 13.27%. On average, equities analysts predict that PCB Bancorp will post 1.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Don Rhee purchased 7,300 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was purchased at an average cost of $21.22 per share, with a total value of $154,906.00. Following the purchase, the director now owns 399,144 shares in the company, valued at $8,469,835.68. This trade represents a 1.86 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Henry Kim purchased 3,700 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were purchased at an average cost of $20.35 per share, with a total value of $75,295.00. Following the completion of the purchase, the chief executive officer now owns 24,713 shares in the company, valued at $502,909.55. This represents a 17.61 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 31,374 shares of company stock valued at $660,622 in the last three months. 25.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PCB shares. Piper Sandler increased their price target on 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 increased their price target on PCB Bancorp from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

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.