NasdaqGS:PCB

Stock Analysis Report

Executive Summary

PCB Bancorp operates as the bank holding company for Pacific City Bank that provides various commercial banking products and services to individuals, professionals, and small-to-medium sized businesses in Southern California.

Snowflake

Fundamentals

Flawless balance sheet and good value.


Similar Companies

Share Price & News

How has PCB Bancorp's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.4%

PCB

1.4%

US Banks

1.0%

US Market


1 Year Return

-4.4%

PCB

0.2%

US Banks

6.7%

US Market

Return vs Industry: PCB matched the US Banks industry which returned 0.2% over the past year.

Return vs Market: PCB underperformed the US Market which returned 6.7% over the past year.


Shareholder returns

PCBIndustryMarket
7 Day1.4%1.4%1.0%
30 Day0.5%-2.6%-1.8%
90 Day-2.3%0.8%-1.8%
1 Year-3.2%-4.4%3.1%0.2%9.1%6.7%
3 Year59.1%54.7%52.0%41.5%46.1%36.6%
5 Year67.0%61.5%69.7%51.2%66.9%48.6%

Price Volatility Vs. Market

How volatile is PCB Bancorp's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is PCB Bancorp undervalued compared to its fair value and its price relative to the market?

47.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: PCB ($16.52) is trading below our estimate of fair value ($31.58)

Significantly Undervalued: PCB is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: PCB is good value based on its PE Ratio (9.8x) compared to the Banks industry average (12.5x).

PE vs Market: PCB is good value based on its PE Ratio (9.8x) compared to the US market (17.5x).


Price to Earnings Growth Ratio

Low PEG Ratio: PCB's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: PCB is overvalued based on its PB Ratio (1.2x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is PCB Bancorp forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

-1.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PCB's earnings are forecast to decline over the next 3 years (-1.4% per year).

Earnings vs Market: PCB's earnings are forecast to decline over the next 3 years (-1.4% per year).

High Growth Earnings: PCB's earnings are forecast to decline over the next 3 years.

Revenue vs Market: PCB's revenue (4.4% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: PCB's revenue (4.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if PCB's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has PCB Bancorp performed over the past 5 years?

18.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: PCB's earnings have grown by 18.3% per year over the past 5 years.

Accelerating Growth: PCB's earnings growth over the past year (45.5%) exceeds its 5-year average (18.3% per year).

Earnings vs Industry: PCB earnings growth over the past year (45.5%) exceeded the Banks industry 31.8%.


Return on Equity

High ROE: PCB's Return on Equity (11.8%) is considered low.


Return on Assets

ROA vs Industry: PCB has a higher Return on Assets than the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate PCB's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is PCB Bancorp's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: PCB has a low level of unsold assets or inventory.

Debt Coverage by Assets: PCB's debt is covered by short term assets (assets are 3.983820x debt).


Financial Institutions Analysis

Asset Level: PCB's level of assets compared to its equity is low.

Allowance for Bad Loans: PCB has a sufficient allowance for bad loans.

Low Risk Liabilities: PCB's liabilities are made up of primarily low risk sources of funding.

Loan Level: PCB has an acceptable proportion of non-loan assets held.

Low Risk Deposits: PCB's loans are broadly funded by customer deposits.

Level of Bad Loans: PCB has an appropriate level of bad loans (0.1%)


Next Steps

Dividend

What is PCB Bancorp's current dividend yield, its reliability and sustainability?

1.45%

Current Dividend Yield


Dividend Yield vs Market

company1.5%marketbottom25%1.5%markettop25%3.8%industryaverage3.1%forecastin3Years2.6%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: PCB's dividend (1.45%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.46%).

High Dividend: PCB's dividend (1.45%) is low compared to the top 25% of dividend payers in the US market (3.77%).

Stable Dividend: Whilst dividend payments have been stable, PCB has been paying a dividend for less than 10 years.

Growing Dividend: PCB's dividend payments have increased, but the company has only paid a dividend for 4 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (10.1%), PCB's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of PCB Bancorp's salary, the management and board of directors tenure and is there insider trading?

4.8yrs

Average board tenure


CEO

Henry Kim (52yo)

1.8yrs

Tenure

US$915,602

Compensation

Mr. Henry Kim has been the President, Chief Executive Officer and Director at Pacific City Financial Corp. and Pacific City Bank since January 1, 2018. Mr. Kim served as Chief Credit Officer, Chief Operati ...


CEO Compensation Analysis

Compensation vs. Market: Henry has recently become CEO, making it difficult to compare their total compensation against companies of similar size in the US market.

Compensation vs Earnings: Henry's compensation has increased by more than 20% in the past year.


Board Age and Tenure

4.8yrs

Average Tenure

63yo

Average Age

Experienced Board: PCB's board of directors are considered experienced (4.8 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$298,57705 Jun 19
Don Rhee
EntityIndividual
Role
Member of the Board of Directors
Director
Shares17,544
Max PriceUS$17.20
SellUS$170,00004 Jun 19
John Ju
EntityIndividual
Shares10,000
Max PriceUS$17.00

Ownership Breakdown


Management Team

  • Tim Chang (51yo)

    Executive VP

    • Tenure: 9.8yrs
    • Compensation: US$374.24k
  • Mimi Lee (51yo)

    Senior VP & Chief Operations Administrator

    • Tenure: 0yrs
  • Andrew Chung (56yo)

    Executive VP

    • Tenure: 0yrs
    • Compensation: US$341.73k
  • Henry Kim (52yo)

    President

    • Tenure: 1.8yrs
    • Compensation: US$915.60k
  • Younghoon Jang

    Senior VP & Manager of Little Tokyo Branch

    • Tenure: 0yrs
  • Hee Joon

    Senior VP & Manager of Consumer Loan Department

    • Tenure: 0yrs
  • Nathan Baik

    Senior VP & Manager of Commercial Loan Center

    • Tenure: 0yrs
  • Joanne Kim

    Senior VP and Manager of Buena Park Branch & Fullerton Branch

    • Tenure: 0yrs
  • Thomas Kim

    Senior VP - Downtown Fashion District Branch & Regional Manager of Downtown Fashion District Branch

    • Tenure: 0yrs
  • Brian Bang (44yo)

    Senior VP & Chief Credit Officer

    • Tenure: 0yrs
    • Compensation: US$205.62k

Board Members

  • Don Rhee (63yo)

    Director

    • Tenure: 4.8yrs
    • Compensation: US$58.00k
  • Daniel Cho (54yo)

    Director - Pacific City Bank

    • Tenure: 0yrs
    • Compensation: US$85.62k
  • Suk Youn (71yo)

    Director

    • Tenure: 12.8yrs
    • Compensation: US$58.00k
  • Sang Lee (68yo)

    Chairman of the Board

    • Tenure: 2.8yrs
    • Compensation: US$94.00k
  • Haeyoung Cho (64yo)

    Director

    • Tenure: 8.8yrs
    • Compensation: US$257.06k
  • Kijun Ahn (63yo)

    Director

    • Tenure: 4.8yrs
    • Compensation: US$88.62k
  • Henry Kim (52yo)

    President

    • Tenure: 1.8yrs
    • Compensation: US$915.60k
  • Daniel Park (60yo)

    Director

    • Tenure: 4.3yrs
    • Compensation: US$91.62k
  • Sarah Jun

    Director - Pacific City Bank

    • Tenure: 0yrs
    • Compensation: US$82.00k

Company Information

PCB Bancorp's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: PCB Bancorp
  • Ticker: PCB
  • Exchange: NasdaqGS
  • Founded: 2003
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$263.231m
  • Shares outstanding: 15.93m
  • Website: https://www.paccity.net

Number of Employees


Location

  • PCB Bancorp
  • 3701 Wilshire Boulevard
  • Suite 900
  • Los Angeles
  • California
  • 90010
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PCBNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDNov 2003

Biography

PCB Bancorp operates as the bank holding company for Pacific City Bank that provides various commercial banking products and services to individuals, professionals, and small-to-medium sized businesses in  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/15 00:04
End of Day Share Price2019/10/14 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.