PCB Bancorp (PCB) to Issue Quarterly Dividend of $0.20 on February 21st

PCB Bancorp (NASDAQ:PCB) announced a quarterly dividend on Wednesday, January 29th,RTT News reports. Investors of record on Friday, February 14th will be paid a dividend of 0.20 per share on Friday, February 21st. This represents a $0.80 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Friday, February 14th. 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% per year over the last three years. PCB Bancorp has a payout ratio of 34.3% indicating that 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 Stock Up 2.7 %

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

PCB Bancorp (NASDAQ:PCB) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. PCB Bancorp had a net margin of 13.45% and a return on equity of 9.02%. Analysts expect that PCB Bancorp will post 2.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PCB shares. Piper Sandler lifted their price objective on PCB Bancorp from $20.00 to $21.00 and gave the company 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 company a “market perform” rating in a report on Wednesday, December 4th.

Insider Buying and Selling 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 shares were bought at an average cost of $21.44 per share, for a total transaction of $64,320.00. Following the completion of the transaction, the chief executive officer now owns 22,785 shares of the company’s stock, valued at approximately $488,510.40. This represents a 15.16 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Don Rhee acquired 7,300 shares of PCB Bancorp stock in a transaction 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 purchase, the director now owns 399,144 shares in the company, valued at approximately $8,469,835.68. The trade was a 1.86 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 27,674 shares of company stock valued at $585,327 in the last three months. 25.01% of the stock is currently owned by corporate 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.