PCB Bancorp (NASDAQ:PCB) Increases Dividend to $0.20 Per Share

PCB Bancorp (NASDAQ:PCB - Get Free Report) declared a quarterly dividend on Wednesday, January 29th,RTT News reports. Investors of record on Friday, February 14th will be given a dividend of 0.20 per share on Friday, February 21st. This represents a $0.80 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from PCB Bancorp's previous quarterly dividend of $0.18.

PCB Bancorp has increased its dividend by an average of 17.8% annually over the last three years. PCB Bancorp has a payout ratio of 34.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect PCB Bancorp to earn $2.40 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 33.3%.

PCB Bancorp Trading Up 0.3 %

Shares of PCB stock traded up $0.06 during midday trading on Monday, reaching $19.35. 23,831 shares of the stock were exchanged, compared to its average volume of 20,578. PCB Bancorp has a 1 year low of $14.50 and a 1 year high of $22.20. The firm has a market cap of $276.07 million, a PE ratio of 11.12 and a beta of 0.71. The company's 50 day moving average is $20.19 and its two-hundred day moving average is $19.31.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.46. PCB Bancorp had a return on equity of 9.02% and a net margin of 13.45%. As a group, equities analysts expect that PCB Bancorp will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Henry Kim bought 3,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average cost of $21.44 per share, for a total transaction of $64,320.00. Following the purchase, the chief executive officer now directly owns 22,785 shares of the company's stock, valued at approximately $488,510.40. This trade represents a 15.16 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Don Rhee purchased 7,300 shares of the business's stock in a transaction on Friday, November 29th. The shares were bought at an average price of $21.22 per share, for a total transaction of $154,906.00. Following the purchase, the director now directly owns 399,144 shares in the company, valued at $8,469,835.68. This represents a 1.86 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 31,374 shares of company stock worth $660,622 over the last three months. 25.01% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PCB. Piper Sandler raised their price target on shares of PCB Bancorp from $20.00 to $21.00 and gave the company a "neutral" rating in a report on Monday, October 28th. Keefe, Bruyette & Woods raised their target price on shares of PCB Bancorp from $20.00 to $23.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th.

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.