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

PCB Bancorp (NASDAQ:PCB) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Friday, May 10th will be paid a dividend of 0.18 per share on Friday, May 17th. This represents a $0.72 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date is Thursday, May 9th.

PCB Bancorp has increased its dividend by an average of 19.9% per year over the last three years and has raised its dividend every year for the last 5 years. PCB Bancorp has a payout ratio of 40.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect PCB Bancorp to earn $1.75 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 41.1%.

PCB Bancorp Trading Up 0.5 %

NASDAQ PCB opened at $15.48 on Wednesday. The stock’s fifty day moving average price is $15.65 and its 200-day moving average price is $16.33. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The stock has a market cap of $220.74 million, a P/E ratio of 8.85 and a beta of 0.65. PCB Bancorp has a 12 month low of $13.11 and a 12 month high of $19.03.

Insider Buying and Selling

In other PCB Bancorp news, Director Sang Young Lee bought 4,202 shares of PCB Bancorp stock in a transaction on Thursday, February 22nd. The stock was acquired at an average price of $15.95 per share, with a total value of $67,021.90. Following the acquisition, the director now owns 1,451,269 shares in the company, valued at $23,147,740.55. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 15,509 shares of company stock worth $247,400 in the last three months. Insiders own 25.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their price objective on shares of PCB Bancorp from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, April 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.