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

PCB Bancorp (NASDAQ:PCB) announced 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 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% annually over the last three years. PCB Bancorp has a payout ratio of 30.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 0.4 %

Shares of PCB opened at $19.05 on Friday. The company has a market capitalization of $271.84 million, a PE ratio of 11.27 and a beta of 0.71. The stock’s 50-day moving average price is $20.27 and its two-hundred day moving average price is $19.26. PCB Bancorp has a 12 month low of $14.50 and a 12 month high of $22.20.

PCB Bancorp (NASDAQ:PCB) last released its earnings results 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 net margin of 13.27% and a return on equity of 8.68%. Equities research analysts predict that PCB Bancorp will post 1.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other PCB Bancorp news, Director Don Rhee bought 7,300 shares of PCB Bancorp stock in a transaction dated Friday, November 29th. The stock was bought at an average cost of $21.22 per share, with a total value of $154,906.00. Following the completion of the acquisition, the director now directly owns 399,144 shares in the company, valued at approximately $8,469,835.68. The trade was a 1.86 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Sang Young Lee bought 8,200 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of $21.46 per share, with a total value of $175,972.00. Following the completion of the transaction, the director now owns 1,526,207 shares in the company, valued at approximately $32,752,402.22. The trade was a 0.54 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 31,374 shares of company stock worth $660,622 in the last quarter. Insiders own 25.01% of the company’s stock.

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.