PCB Bancorp (NASDAQ:PCB) Expected to Announce Quarterly Sales of $25.90 Million

Wall Street analysts expect that PCB Bancorp (NASDAQ:PCBGet Rating) will announce $25.90 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for PCB Bancorp’s earnings. PCB Bancorp reported sales of $24.15 million in the same quarter last year, which indicates a positive year-over-year growth rate of 7.2%. The business is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that PCB Bancorp will report full year sales of $105.65 million for the current financial year, with estimates ranging from $105.40 million to $105.90 million. For the next financial year, analysts expect that the company will report sales of $117.60 million, with estimates ranging from $116.20 million to $119.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow PCB Bancorp.

PCB Bancorp (NASDAQ:PCBGet Rating) last posted its earnings results on Thursday, April 28th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.08. PCB Bancorp had a return on equity of 16.65% and a net margin of 40.19%.

A number of research firms recently weighed in on PCB. Raymond James lowered PCB Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 6th. Zacks Investment Research raised PCB Bancorp from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Wednesday.

In other news, Director Janice Chung acquired 8,700 shares of the firm’s stock in a transaction on Tuesday, March 1st. The shares were purchased at an average cost of $22.70 per share, with a total value of $197,490.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 24.05% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in shares of PCB Bancorp by 96.1% during the 2nd quarter. Royal Bank of Canada now owns 2,716 shares of the company’s stock worth $43,000 after purchasing an additional 1,331 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of PCB Bancorp by 108.1% during the 4th quarter. Lazard Asset Management LLC now owns 2,913 shares of the company’s stock worth $63,000 after purchasing an additional 1,513 shares in the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of PCB Bancorp by 33.3% during the 4th quarter. Hillsdale Investment Management Inc. now owns 3,600 shares of the company’s stock worth $79,000 after purchasing an additional 900 shares in the last quarter. Citigroup Inc. bought a new stake in shares of PCB Bancorp during the 4th quarter worth $125,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of PCB Bancorp during the 4th quarter worth $214,000. 37.85% of the stock is currently owned by institutional investors.

PCB stock opened at $18.97 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $283.51 million, a PE ratio of 6.93 and a beta of 0.77. PCB Bancorp has a 1-year low of $15.04 and a 1-year high of $26.04. The business’s 50 day simple moving average is $21.44 and its 200 day simple moving average is $22.34.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 20th. Shareholders of record on Friday, May 13th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date was Thursday, May 12th. PCB Bancorp’s dividend payout ratio is 21.90%.

PCB Bancorp Company Profile (Get Rating)

PCB Bancorp operates as the bank holding company for Pacific City 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 remote deposit capture, courier deposit services, positive pay services, zero balance accounts, and sweep accounts.

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Earnings History and Estimates for PCB Bancorp (NASDAQ:PCB)

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