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

Key Points

• PCB Bancorp declared a quarterly dividend of $0.20 per share, with a record date of November 7th, and payment on November 14th, yielding approximately 3.9% annually.
• The company's payout ratio stands at 31.7%, indicating the dividend is well-covered by earnings, with expected earnings per share of $2.31 next year.
• Recent insider trades include significant purchases by directors, indicating strong confidence in the company, as insiders currently hold 25.86% of the stock.

PCB Bancorp (NASDAQ:PCB - Get Free Report) announced a quarterly dividend on Thursday, October 23rd. Shareholders of record on Friday, November 7th will be paid a dividend of 0.20 per share on Friday, November 14th. This represents a c) annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, November 7th.

PCB Bancorp has a payout ratio of 31.7% meaning its dividend is sufficiently covered by earnings. 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 Performance

Shares of PCB stock opened at $20.27 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.06. PCB Bancorp has a fifty-two week low of $16.00 and a fifty-two week high of $22.45. The stock has a 50 day moving average price of $21.21 and a two-hundred day moving average price of $20.52. The company has a market capitalization of $290.87 million, a P/E ratio of 9.52 and a beta of 0.58.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last announced its quarterly earnings data on Wednesday, May 24th. The company reported $0.85 earnings per share for the quarter. The firm had revenue of $24.15 million during the quarter. PCB Bancorp had a return on equity of 10.58% and a net margin of 15.82%. Analysts expect that PCB Bancorp will post 2.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Sang Young Lee acquired 18,200 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was acquired at an average price of $21.45 per share, for a total transaction of $390,390.00. Following the completion of the acquisition, the director owned 1,569,210 shares in the company, valued at $33,659,554.50. This trade represents a 1.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Don Rhee acquired 10,000 shares of the firm's stock in a transaction on Friday, August 1st. The stock was purchased at an average price of $20.13 per share, with a total value of $201,300.00. Following the acquisition, the director owned 419,044 shares of the company's stock, valued at $8,435,355.72. This represents a 2.44% increase in their position. The disclosure for this purchase can be found here. 25.86% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PCB Bancorp

A number of institutional investors have recently added to or reduced their stakes in PCB. Russell Investments Group Ltd. raised its holdings in PCB Bancorp by 3,769.6% in the second quarter. Russell Investments Group Ltd. now owns 1,780 shares of the company's stock worth $37,000 after purchasing an additional 1,734 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of PCB Bancorp by 88.2% in the second quarter. Tower Research Capital LLC TRC now owns 1,916 shares of the company's stock worth $40,000 after acquiring an additional 898 shares during the last quarter. CWM LLC grew its stake in shares of PCB Bancorp by 61.5% in the second quarter. CWM LLC now owns 2,046 shares of the company's stock worth $43,000 after acquiring an additional 779 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of PCB Bancorp in the second quarter worth $44,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of PCB Bancorp by 1,033.5% in the second quarter. PNC Financial Services Group Inc. now owns 3,151 shares of the company's stock worth $66,000 after acquiring an additional 2,873 shares during the last quarter. Institutional investors own 33.04% 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.

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