PCB Bancorp (NASDAQ:PCB) Announces Quarterly Dividend of $0.22

Key Points

• PCB Bancorp declared a quarterly dividend of $0.22 per share (annualized $0.88) with an ex‑dividend and record date of May 8 and payment on May 15, implying a yield of about 3.7%.
• The dividend appears sustainable: PCB has raised its payout each year for seven years, currently has a payout ratio of 34.9%, and analysts forecast $3.13 EPS next year (an implied payout ratio of ~28.1%).
• PCB beat Q1 EPS estimates ($0.74 vs. $0.67) while revenue slightly missed, the stock trades at a P/E of 9.29 with a market cap of roughly $340M, and carries an average analyst rating of "Hold" with a $24.50 consensus target.

PCB Bancorp (NASDAQ:PCB - Get Free Report) announced a quarterly dividend on Thursday, April 23rd. Investors of record on Friday, May 8th will be paid a dividend of 0.22 per share on Friday, May 15th. This represents a c) dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, May 8th.

PCB Bancorp has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 7 years. PCB Bancorp has a dividend payout ratio of 34.9% meaning its dividend is sufficiently covered by earnings. Analysts expect PCB Bancorp to earn $3.13 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 28.1%.

PCB Bancorp Stock Performance

Shares of PCB Bancorp stock opened at $23.87 on Friday. PCB Bancorp has a one year low of $18.72 and a one year high of $24.99. The firm has a market capitalization of $339.67 million, a price-to-earnings ratio of 9.29 and a beta of 0.53. The business has a 50-day simple moving average of $22.80 and a 200 day simple moving average of $22.20. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.06 and a quick ratio of 1.06.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last issued its earnings results on Thursday, April 23rd. The company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.07. PCB Bancorp had a return on equity of 12.03% and a net margin of 17.89%.The business had revenue of $30.18 million during the quarter, compared to analyst estimates of $31.10 million. On average, research analysts anticipate that PCB Bancorp will post 2.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PCB shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of PCB Bancorp in a research report on Friday, March 27th. Wall Street Zen lowered PCB Bancorp from a "buy" rating to a "hold" rating in a research report on Saturday, March 21st. Finally, Zacks Research lowered PCB Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 2nd. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $24.50.

PCB Bancorp Company Profile

PCB Bancorp is the bank holding company for Pacific City Bank, a California-chartered bank founded in 1999 and headquartered in Torrance, California. As the parent of an FDIC-insured institution, PCB Bancorp oversees a community-focused banking franchise that serves both retail customers and commercial enterprises. The company's strategy emphasizes personalized service and deep market knowledge to meet the evolving needs of individuals, families and businesses in Southern California.

Through its subsidiary Pacific City Bank, PCB Bancorp offers a broad range of financial products and services, including deposit accounts, commercial real estate and construction lending, residential mortgages, trade finance, treasury management and wealth advisory solutions.

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