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

PCB Bancorp (NASDAQ:PCB - Get Free Report) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Investors of record on Friday, November 8th will be paid 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 increased its dividend payment by an average of 19.9% per year over the last three years. PCB Bancorp has a payout ratio of 39.6% indicating that its dividend is sufficiently covered by earnings. Equities 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

Shares of PCB stock traded up $0.33 on Friday, reaching $18.41. The company's stock had a trading volume of 22,724 shares, compared to its average volume of 21,638. 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 has a 12-month low of $14.50 and a 12-month high of $20.22. The company has a market capitalization of $262.66 million, a P/E ratio of 10.52 and a beta of 0.67. The stock's 50 day simple moving average is $18.49 and its 200-day simple moving average is $16.88.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.07. The business had revenue of $48.62 million for the quarter, compared to the consensus estimate of $25.50 million. PCB Bancorp had a return on equity of 8.55% and a net margin of 13.37%. As a group, equities analysts predict that PCB Bancorp will post 1.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In related 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 value of $461,750.00. Following the sale, the director now directly owns 98,000 shares of the company's stock, valued at $1,810,060. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 25.01% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lifted their price objective on PCB Bancorp from $17.00 to $20.00 and gave the stock a "market perform" rating in a report on Monday, July 29th.

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.