PCB Bancorp Plans Quarterly Dividend of $0.18 (NASDAQ:PCB)

PCB Bancorp (NASDAQ:PCB) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Investors of record on Friday, November 8th will be given a dividend of 0.18 per share on Friday, November 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend is Friday, November 8th.

PCB Bancorp has raised its dividend by an average of 19.9% annually over the last three years. PCB Bancorp has a payout ratio of 39.6% meaning its dividend is sufficiently covered by earnings. Analysts expect PCB Bancorp to earn $1.78 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 40.4%.

PCB Bancorp Price Performance

PCB Bancorp stock traded up $0.33 during mid-day trading on Friday, hitting $18.41. The company’s stock had a trading volume of 22,724 shares, compared to its average volume of 21,638. PCB Bancorp has a twelve month low of $14.50 and a twelve month high of $20.22. The stock’s fifty day moving average price is $18.49 and its two-hundred day moving average price is $16.88. The stock has a market capitalization of $262.66 million, a P/E ratio of 10.52 and a beta of 0.67. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

PCB Bancorp (NASDAQ:PCB) last announced its earnings results on Thursday, October 24th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. PCB Bancorp had a return on equity of 8.55% and a net margin of 13.37%. The company had revenue of $48.62 million for the quarter, compared to analyst estimates of $25.50 million. Research analysts forecast that PCB Bancorp will post 1.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised their target price on shares of PCB Bancorp from $17.00 to $20.00 and gave the stock a “market perform” rating in a report on Monday, July 29th.

Insider Activity

In other PCB Bancorp news, Director Daniel Cho sold 25,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $18.47, for a total transaction of $461,750.00. Following the completion of the sale, the director now directly owns 98,000 shares in the company, valued at approximately $1,810,060. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 25.01% of the stock is currently owned by corporate insiders.

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.