PCB Bancorp to Issue Quarterly Dividend of $0.20 (NASDAQ:PCB)

PCB Bancorp (NASDAQ:PCB - Get Free Report) declared a quarterly dividend on Thursday, July 24th, RTT News reports. Stockholders of record on Friday, August 8th will be paid a dividend of 0.20 per share on Friday, August 15th. This represents a $0.80 annualized dividend and a dividend yield of 3.85%.

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

Shares of PCB stock traded down $0.75 during trading hours on Thursday, hitting $20.77. 13,305 shares of the company's stock were exchanged, compared to its average volume of 31,226. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.09. The firm has a market cap of $297.22 million, a P/E ratio of 10.71 and a beta of 0.57. The firm has a 50 day moving average of $20.59 and a two-hundred day moving average of $19.62. PCB Bancorp has a fifty-two week low of $16.00 and a fifty-two week high of $22.37.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.02. PCB Bancorp had a return on equity of 9.54% and a net margin of 14.81%. Sell-side analysts forecast that PCB Bancorp will post 2.04 EPS for the current year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On PCB Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCB. Goldman Sachs Group Inc. grew its stake in shares of PCB Bancorp by 83.6% in the first quarter. Goldman Sachs Group Inc. now owns 194,598 shares of the company's stock valued at $3,641,000 after buying an additional 88,589 shares in the last quarter. Empowered Funds LLC lifted its stake in PCB Bancorp by 7.2% during the 1st quarter. Empowered Funds LLC now owns 58,475 shares of the company's stock worth $1,094,000 after acquiring an additional 3,925 shares in the last quarter. Jane Street Group LLC acquired a new position in PCB Bancorp during the 1st quarter worth about $272,000. AQR Capital Management LLC acquired a new position in PCB Bancorp during the 1st quarter worth about $220,000. Finally, Strs Ohio acquired a new position in PCB Bancorp during the 1st quarter worth about $94,000. Institutional investors and hedge funds 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.

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.