LOS ANGELES—Lee Sang Young, a director and ten percent owner of PCB Bancorp (NASDAQ:PCB), has made a series of stock purchases, acquiring a total of 8,200 shares of common stock. The transactions, executed on November 25, 2024, were conducted at prices ranging from $21.4328 to $21.4864 per share, amounting to a total investment of $175,940.
Following these acquisitions, Lee holds 1,526,207 shares, with ownership noted as indirect through a family trust. PCB Bancorp, headquartered in Los Angeles, operates in the state commercial banking sector.
In other recent news, Piper Sandler revised its price target for Pacific Financial Corp., raising it to $21. The firm also updated its earnings per share (EPS) estimates for the company, predicting an EPS of $1.75 in 2024 and $2.03 in 2025. An additional EPS estimate of $2.38 for 2026 was introduced by Piper Sandler. These revisions reflect a combination of lower non-interest expenses and loan loss provisions, along with stronger net interest income and fees.
In other developments, PCB Bancorp, the parent company of PCB Bank, announced a quarterly cash dividend of $0.18 per share, continuing its tradition of quarterly profit distribution. Furthermore, PCB Bancorp extended its stock repurchase program to August 2025, allowing for the potential repurchase of up to 577,777 shares.
Pacific Financial Corp. also experienced a change in its stock price target by Piper Sandler, with a decrease from $18 to $17. Despite this adjustment, the firm maintained a Neutral rating on the shares. Piper Sandler also increased its EPS estimates for Pacific Financial Corp. for 2024 and 2025 to $1.71 and $1.70, respectively.
These recent developments provide an updated financial outlook for both Pacific Financial Corp. and PCB Bancorp. The revisions and announcements are based on company updates and analyst notes from firms such as Piper Sandler.
InvestingPro Insights
Lee Sang Young's recent stock purchases align with several positive indicators for PCB Bancorp (NASDAQ:PCB). According to InvestingPro data, the bank's stock is trading near its 52-week high, with a strong return of 17.49% over the last month and an impressive 43.98% over the past six months. This performance suggests growing investor confidence in the company's prospects.
PCB Bancorp's P/E ratio of 12.64 indicates that the stock may be reasonably valued compared to its earnings. The bank has maintained a consistent dividend policy, with InvestingPro Tips highlighting that PCB has raised its dividend for 6 consecutive years and maintained payments for 9 consecutive years. This commitment to shareholder returns is further underscored by the current dividend yield of 3.36%.
Despite these positive aspects, it's worth noting that 2 analysts have revised their earnings downwards for the upcoming period, and net income is expected to drop this year. However, the bank remains profitable, with a return on assets of 0.9% for the last twelve months as of Q3 2024.
InvestingPro offers 10 additional tips for PCB Bancorp, providing investors with a comprehensive analysis of the company's financial health and market position. To gain access to these insights and make more informed investment decisions, consider exploring the full range of tips available on InvestingPro.
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