PCB Bancorp (NASDAQ:PCB) Plans Quarterly Dividend of $0.20

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

PCB Bancorp has increased its dividend payment by an average of 17.8% annually over the last three years. PCB Bancorp has a payout ratio of 30.8% indicating that 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 mid-day trading on Thursday, reaching $19.05. 20,378 shares of the company’s stock were exchanged, compared to its average volume of 20,099. The firm has a market capitalization of $271.79 million, a price-to-earnings ratio of 11.27 and a beta of 0.71. PCB Bancorp has a 52-week low of $14.50 and a 52-week high of $22.20. The company’s 50-day moving average is $20.30 and its 200-day moving average is $19.26.

PCB Bancorp (NASDAQ:PCB) last announced its earnings results on Thursday, January 30th. The company reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. PCB Bancorp had a return on equity of 8.68% and a net margin of 13.27%. As a group, equities analysts predict that PCB Bancorp will post 1.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Piper Sandler raised their target price 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 raised their price target on PCB Bancorp from $20.00 to $23.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

Insider Transactions at PCB Bancorp

In other PCB Bancorp news, Director Don Rhee bought 7,300 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was purchased at an average cost of $21.22 per share, for a total transaction of $154,906.00. Following the completion of the purchase, the director now owns 399,144 shares of the company’s stock, valued at $8,469,835.68. This trade represents a 1.86 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sang Young Lee purchased 8,200 shares of the stock in a transaction on Monday, November 25th. The shares were purchased at an average cost of $21.46 per share, with a total value of $175,972.00. Following the transaction, the director now owns 1,526,207 shares of the company’s stock, valued at $32,752,402.22. This trade represents a 0.54 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 31,374 shares of company stock valued at $660,622 over the last three months. 25.01% of the stock is currently 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.