PCB Bancorp Announces Quarterly Dividend

PCB Bancorp (NASDAQ:PCB) made an important announcement on Thursday, October 24th, regarding its quarterly dividend. The company stated that investors who are on record by Friday, November 8th, will receive a dividend payment of $0.18 per share on Friday, November 15th. This dividend payout reflects an annualized total of $0.72 per share, which translates to a dividend yield of 3.91%. It's important to note that the ex-dividend date for this payment is also on November 8th.

Over the past three years, PCB Bancorp's dividend has seen an average increase of 19.9% annually, showing a strong commitment to returning value to its shareholders. The company has a dividend payout ratio of 39.6%, indicating that its earnings sufficiently cover the dividend payments. Analysts are optimistic about PCB Bancorp's performance, forecasting earnings of $1.78 per share for the upcoming year. This projection suggests that the company is likely to maintain its ability to support the $0.72 annual dividend with an anticipated payout ratio of 40.4%.

PCB Bancorp Stock Performance

In trading activity, PCB Bancorp's stock rose by 1.8% on Friday, reaching a price of $18.41 per share. The trading volume for the day was recorded at 22,724 shares, surpassing the average volume of 21,638 shares. Over the past year, the stock has fluctuated between a low of $14.50 and a high of $20.22. Currently, it has a 50-day moving average price of $18.49 and a 200-day moving average price of $16.88. With a market capitalization of approximately $262.66 million, the company has a price-to-earnings ratio of 10.52 and a beta of 0.67. Additionally, PCB Bancorp's debt-to-equity ratio stands at 0.13, while both its quick ratio and current ratio are at 1.07.

On the same day that the dividend was declared, PCB Bancorp reported its quarterly earnings data. The company achieved earnings per share (EPS) of $0.52 for the quarter, exceeding the consensus estimate of $0.45 by $0.07. PCB Bancorp also posted a net margin of 13.37% and a return on equity of 8.55%. The reported revenue for the quarter was $48.62 million, significantly higher than the expected $25.50 million. Looking ahead, analysts predict that PCB Bancorp will report earnings of $1.65 per share for the current fiscal year.

Insider Transactions

In related news, Director Daniel Cho sold 25,000 shares of PCB Bancorp on September 6th, with an average sale price of $18.47, resulting in a total transaction value of $461,750. Following this sale, the director retains ownership of 98,000 shares, valued at around $1,810,060. This transaction reflected no change in their ownership percentage. The details were disclosed in a document filed with the Securities and Exchange Commission (SEC).

Analyst Ratings

In terms of market outlook, Keefe, Bruyette & Woods recently upgraded their price target for PCB Bancorp from $17.00 to $20.00, while maintaining a "market perform" rating for the stock in their research note dated July 29th.

Company Overview

PCB Bancorp is the parent company of PCB Bank, which provides a range of banking services aimed at small to medium-sized businesses, individuals, and professionals primarily in Southern California. The bank offers various products, including demand accounts, savings, money market accounts, time deposits, and certificates of deposit. Additionally, they facilitate trade finance, remote deposit capture, and various account services.

dividend, investment, earnings