PCB Bancorp (NASDAQ:PCB) Posts Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• PCB Bancorp reported earnings of $0.62 per share, surpassing analyst estimates of $0.60 by $0.02, and posted a revenue of $29.29 million against expectations of $28.63 million.
• The company's stock rose 3.1% to $21.42 following the earnings announcement, reflecting positive market sentiment.
• PCB Bancorp declared a $0.20 quarterly dividend, representing an annualized dividend of $0.80 and a yield of 3.73%, with a payout ratio of 37.56%.

PCB Bancorp (NASDAQ:PCB - Get Free Report) posted its quarterly earnings data on Thursday. The company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.02, Zacks reports. PCB Bancorp had a return on equity of 10.26% and a net margin of 15.82%. The business had revenue of $29.29 million during the quarter, compared to analysts' expectations of $28.63 million.

PCB Bancorp Stock Up 3.1%

PCB stock traded up $0.65 during mid-day trading on Friday, reaching $21.42. The company had a trading volume of 19,263 shares, compared to its average volume of 25,781. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market capitalization of $306.52 million, a price-to-earnings ratio of 10.06 and a beta of 0.57. The firm has a fifty day simple moving average of $20.61 and a 200 day simple moving average of $19.65. PCB Bancorp has a fifty-two week low of $16.00 and a fifty-two week high of $22.37.

PCB Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 8th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Friday, August 8th. PCB Bancorp's dividend payout ratio is currently 37.56%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods boosted their price target on PCB Bancorp from $21.00 to $23.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 29th.

Institutional Investors Weigh In On PCB Bancorp

Several institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its position in PCB Bancorp by 83.6% during the first quarter. Goldman Sachs Group Inc. now owns 194,598 shares of the company's stock worth $3,641,000 after buying an additional 88,589 shares during the period. Jane Street Group LLC acquired a new position in PCB Bancorp during the first quarter worth approximately $272,000. AQR Capital Management LLC acquired a new position in PCB Bancorp during the first quarter worth approximately $220,000. Strs Ohio acquired a new position in PCB Bancorp during the first quarter worth approximately $94,000. Finally, Empowered Funds LLC increased its position in PCB Bancorp by 7.2% during the first quarter. Empowered Funds LLC now owns 58,475 shares of the company's stock worth $1,094,000 after buying an additional 3,925 shares during the period. Hedge funds and other institutional investors own 33.04% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.