PCB Bancorp (NASDAQ:PCB) Issues Quarterly Earnings Results, Beats Estimates By $0.07 EPS

PCB Bancorp (NASDAQ:PCB - Get Free Report) announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.07, Zacks reports. PCB Bancorp had a net margin of 19.03% and a return on equity of 12.84%. The company had revenue of $30.18 million during the quarter, compared to analyst estimates of $31.10 million.

PCB Bancorp Stock Performance

PCB stock traded up $0.36 during trading on Thursday, reaching $25.02. The company had a trading volume of 47,553 shares, compared to its average volume of 23,871. The company has a market cap of $356.03 million, a price-to-earnings ratio of 9.00 and a beta of 0.53. PCB Bancorp has a twelve month low of $18.78 and a twelve month high of $25.15. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a 50-day simple moving average of $23.01 and a 200-day simple moving average of $22.43.

PCB Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 8th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, May 8th. PCB Bancorp's dividend payout ratio (DPR) is presently 31.65%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PCB. Wall Street Zen downgraded PCB Bancorp from a "buy" rating to a "hold" rating in a research report on Saturday, March 21st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of PCB Bancorp in a research note on Friday, March 27th. Piper Sandler increased their target price on shares of PCB Bancorp from $25.50 to $26.00 and gave the stock a "neutral" rating in a report on Monday, April 27th. Finally, Zacks Research lowered shares of PCB Bancorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 2nd. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $25.50.

Insider Transactions at PCB Bancorp

In other news, Director Sang Young Lee purchased 5,000 shares of the company's stock in a transaction on Monday, February 23rd. The shares were acquired at an average price of $22.48 per share, for a total transaction of $112,400.00. Following the purchase, the director owned 1,587,842 shares in the company, valued at $35,694,688.16. This trade represents a 0.32% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have purchased 10,119 shares of company stock worth $227,820. Corporate insiders own 27.00% of the company's stock.

Institutional Investors Weigh In On PCB Bancorp

Several hedge funds have recently bought and sold shares of PCB. Invesco Ltd. grew its stake in shares of PCB Bancorp by 11.8% during the 4th quarter. Invesco Ltd. now owns 12,304 shares of the company's stock worth $266,000 after purchasing an additional 1,300 shares during the period. State of Tennessee Department of Treasury acquired a new position in shares of PCB Bancorp in the 4th quarter valued at $151,000. Empowered Funds LLC boosted its holdings in PCB Bancorp by 11.4% during the fourth quarter. Empowered Funds LLC now owns 76,882 shares of the company's stock worth $1,664,000 after buying an additional 7,855 shares in the last quarter. Man Group plc purchased a new stake in PCB Bancorp during the fourth quarter worth $260,000. Finally, Bridgeway Capital Management LLC grew its position in PCB Bancorp by 5.0% during the fourth quarter. Bridgeway Capital Management LLC now owns 154,411 shares of the company's stock valued at $3,343,000 after buying an additional 7,284 shares during the period. Hedge funds and other institutional investors own 33.04% of the company's stock.

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.