PCB Bancorp (NASDAQ:PCB) Announces $0.18 Quarterly Dividend

PCB Bancorp (NASDAQ:PCB) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Investors of record on Friday, November 8th will be given a dividend of 0.18 per share on Friday, November 15th. This represents a $0.72 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend is Friday, November 8th.

PCB Bancorp has raised its dividend by an average of 19.9% annually over the last three years. PCB Bancorp has a dividend payout ratio of 39.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect PCB Bancorp to earn $1.78 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 40.4%.

PCB Bancorp Stock Up 1.8 %

PCB traded up $0.33 during trading on Friday, hitting $18.41. The company had a trading volume of 22,724 shares, compared to its average volume of 21,638. The company has a market cap of $262.66 million, a PE ratio of 10.52 and a beta of 0.67. The business has a 50-day moving average of $18.49 and a 200-day moving average of $16.88. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 1.07. PCB Bancorp has a 1-year low of $14.50 and a 1-year high of $20.22.

PCB Bancorp (NASDAQ:PCB) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.07. The firm had revenue of $48.62 million for the quarter, compared to analysts’ expectations of $25.50 million. PCB Bancorp had a net margin of 13.37% and a return on equity of 8.55%. As a group, analysts forecast that PCB Bancorp will post 1.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods increased their target price on shares of PCB Bancorp from $17.00 to $20.00 and gave the stock a “market perform” rating in a report on Monday, July 29th.

Insider Buying and Selling

In related news, Director Daniel Cho sold 25,000 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $18.47, for a total value of $461,750.00. Following the sale, the director now owns 98,000 shares of the company’s stock, valued at $1,810,060. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 25.01% of the company’s stock.

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.