PCB Bancorp (NASDAQ:PCB) Shareholders to Receive $0.22 Quarterly Dividend

PCB Bancorp (NASDAQ:PCB) announced a quarterly dividend on Thursday, October 29th. Shareholders of record on Friday, November 13th will be given a dividend of $0.22 per share on Friday, November 20th. This represents a $0.88 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, November 13th.

PCB Bancorp has increased its dividend by an average of 0.1% per year over the last three years and has increased its dividend every year for the last 7 years. PCB Bancorp has a payout ratio of 34.9% meaning its dividend is sufficiently covered by earnings. Analysts expect PCB Bancorp to earn $3.04 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 28.9%.

PCB Bancorp Price Performance

Shares of NASDAQ PCB opened at $29.10 on Friday. PCB Bancorp has a 1 year low of $20.78 and a 1 year high of $30.83. The stock has a market capitalization of $408.86 million, a P/E ratio of 10.07 and a beta of 0.52. The company’s 50-day moving average is $27.89 and its 200 day moving average is $25.60. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 1.07.

PCB Bancorp (NASDAQ:PCB) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.73 by $0.12. PCB Bancorp had a return on equity of 12.91% and a net margin of 19.65%. The company had revenue of $32.39 million during the quarter, compared to analyst estimates of $31.93 million. On average, sell-side analysts expect that PCB Bancorp will post 2.95 earnings per share for the current year.

Institutional Trading of PCB Bancorp

Several hedge funds have recently added to or reduced their stakes in the stock. Clifford Swan Investment Counsel LLC bought a new position in shares of PCB Bancorp in the second quarter valued at approximately $201,000. Empowered Funds LLC bought a new position in shares of PCB Bancorp in the 2nd quarter worth approximately $2,282,000. Public Employees Retirement System of Ohio bought a new position in shares of PCB Bancorp during the second quarter valued at $60,000. Bank of America Corp DE bought a new position in PCB Bancorp during the 2nd quarter valued at about $223,000. Finally, Man Group plc bought a new stake in shares of PCB Bancorp during the 2nd quarter valued at about $492,000. Institutional investors own 33.04% of the company’s stock.

About PCB Bancorp

PCB Bancorp is the bank holding company for PCB Bank, a community bank headquartered in Los Angeles, California. The company provides banking services to individuals, businesses and organizations, with a particular focus on Korean American and other underserved small-business communities.

PCB Bank offers a range of deposit products, including checking, savings, money market and time deposit accounts. Its lending activities include commercial and industrial loans, commercial real estate loans, Small Business Administration loans, residential mortgage loans and consumer loans.