PCB Bancorp (NASDAQ:PCB) Announces Quarterly Dividend of $0.22

PCB Bancorp (NASDAQ:PCB) declared a quarterly dividend on Thursday, October 29th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.22 per share on Friday, November 20th. This represents a $0.88 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, November 13th.

PCB Bancorp has raised its dividend payment by an average of 0.1% annually over the last three years and has raised its dividend every year for the last 7 years. PCB Bancorp has a payout ratio of 34.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect PCB Bancorp to earn $3.04 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 28.9%.

PCB Bancorp Price Performance

NASDAQ PCB opened at $29.10 on Friday. PCB Bancorp has a one year low of $20.78 and a one year high of $30.83. The stock has a 50-day moving average of $27.89 and a 200 day moving average of $25.60. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $408.86 million, a price-to-earnings ratio of 10.07 and a beta of 0.52.

PCB Bancorp (NASDAQ:PCB) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.73 by $0.12. PCB Bancorp had a return on equity of 12.91% and a net margin of 19.65%. The firm had revenue of $32.39 million during the quarter, compared to analyst estimates of $31.93 million. On average, sell-side analysts forecast that PCB Bancorp will post 2.95 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Weiss Ratings reiterated a “buy (a-)” rating on shares of PCB Bancorp in a research report on Friday, August 7th. Keefe, Bruyette & Woods raised their price objective on shares of PCB Bancorp from $29.00 to $29.50 and gave the company a “market perform” rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, PCB Bancorp currently has an average rating of “Moderate Buy” and an average target price of $27.75.

About PCB Bancorp

PCB Bancorp is the bank holding company for PCB Bank, a community bank headquartered in Los Angeles, California. The company provides banking services to individuals, businesses and organizations, with a particular focus on Korean American and other underserved small-business communities.

PCB Bank offers a range of deposit products, including checking, savings, money market and time deposit accounts. Its lending activities include commercial and industrial loans, commercial real estate loans, Small Business Administration loans, residential mortgage loans and consumer loans.