PCB Bancorp (NASDAQ:PCB) Announces $0.22 Quarterly Dividend

PCB Bancorp (NASDAQ:PCB) declared a quarterly dividend on Wednesday, July 22nd. Investors of record on Friday, August 7th will be given a dividend of 0.22 per share on Friday, August 14th. This represents a c) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, August 7th.

PCB Bancorp has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 7 years. PCB Bancorp has a payout ratio of 34.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PCB Bancorp to earn $3.15 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 27.9%.

PCB Bancorp Trading Down 0.7%

PCB opened at $28.90 on Friday. The stock has a market capitalization of $411.25 million, a PE ratio of 10.40 and a beta of 0.50. PCB Bancorp has a one year low of $19.70 and a one year high of $30.83. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.07. The business’s 50 day moving average price is $26.85 and its 200 day moving average price is $24.29.

PCB Bancorp (NASDAQ:PCB) last posted its earnings results on Thursday, July 23rd. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.03. PCB Bancorp had a return on equity of 12.70% and a net margin of 19.03%.The company had revenue of $30.70 million during the quarter, compared to analysts’ expectations of $31.10 million. As a group, equities research analysts expect that PCB Bancorp will post 2.95 EPS for the current year.

Hedge Funds Weigh In On PCB Bancorp

Several hedge funds and other institutional investors 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% during the first quarter. Goldman Sachs Group Inc. now owns 194,598 shares of the company’s stock worth $3,641,000 after purchasing an additional 88,589 shares in the last quarter. Hillsdale Investment Management Inc. boosted its position in shares of PCB Bancorp by 233.6% during the 4th quarter. Hillsdale Investment Management Inc. now owns 100,987 shares of the company’s stock worth $2,186,000 after acquiring an additional 70,717 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of PCB Bancorp in the 2nd quarter valued at about $837,000. Dimensional Fund Advisors LP increased its holdings in shares of PCB Bancorp by 3.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 589,218 shares of the company’s stock valued at $12,756,000 after acquiring an additional 21,948 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of PCB Bancorp by 94.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 31,908 shares of the company’s stock worth $670,000 after acquiring an additional 15,467 shares in the last quarter. Hedge funds and other institutional investors own 33.04% of the company’s stock.

About PCB Bancorp

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.