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

PCB Bancorp (NASDAQ:PCB) declared a quarterly dividend on Wednesday, July 24th, Zacks reports. Stockholders of record on Friday, August 9th will be paid a dividend of 0.18 per share on Friday, August 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend is Friday, August 9th.

PCB Bancorp has increased its dividend payment by an average of 19.9% per year over the last three years. PCB Bancorp has a dividend payout ratio of 37.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect PCB Bancorp to earn $1.85 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 38.9%.

PCB Bancorp Stock Performance

Shares of PCB stock traded up $0.26 during trading hours on Wednesday, hitting $17.29. The company’s stock had a trading volume of 24,832 shares, compared to its average volume of 21,344. The stock has a market cap of $246.68 million, a PE ratio of 9.88 and a beta of 0.67. The company has a 50 day moving average of $16.24 and a 200 day moving average of $16.00. PCB Bancorp has a 12-month low of $14.50 and a 12-month high of $20.22. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.18.

Analyst Upgrades and Downgrades

PCB has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of PCB Bancorp from $17.00 to $20.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Piper Sandler decreased their price target on shares of PCB Bancorp from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th.

Insider Activity

In related news, Director Sang Young Lee acquired 2,702 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were acquired at an average price of $15.21 per share, with a total value of $41,097.42. Following the completion of the transaction, the director now owns 1,488,407 shares of the company’s stock, valued at $22,638,670.47. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders acquired 16,749 shares of company stock valued at $251,383. 25.01% of the stock is currently owned by company insiders.

About PCB Bancorp

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.