Buy Or Sell Opportunity • Apr 29
Now 22% undervalued Over the last 90 days, the stock has risen 9.4% to US$24.09. The fair value is estimated to be US$30.71, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last 3 years. Earnings per share has grown by 5.2%. Revenue is forecast to grow by 10% in a year. Earnings are forecast to grow by 5.3% in the next year. Declared Dividend • Apr 27
First quarter dividend of US$0.22 announced Shareholders will receive a dividend of US$0.22. Ex-date: 8th May 2026 Payment date: 15th May 2026 Dividend yield will be 3.5%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 23% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 4.8% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 24
PCB Bancorp Declares Quarterly Cash Dividend, Payable on or About May 15, 2026 PCB Bancorp declared a quarterly cash dividend of $0.22 per common share. The dividend will be paid on or about May 15, 2026, to shareholders of record as of the close of business on May 8, 2026. Reported Earnings • Apr 24
First quarter 2026 earnings: EPS exceeds analyst expectations First quarter 2026 results: EPS: US$0.75 (up from US$0.54 in 1Q 2025). Revenue: US$29.7m (up 18% from 1Q 2025). Net income: US$10.6m (up 38% from 1Q 2025). Profit margin: 36% (up from 30% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 13%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 10
PCB Bancorp, Annual General Meeting, May 27, 2026 PCB Bancorp, Annual General Meeting, May 27, 2026. Location: 3701 wilshire boulevard, suite 900, california, los angeles United States Reported Earnings • Mar 18
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: US$2.62 (up from US$1.75 in FY 2024). Revenue: US$111.7m (up 16% from FY 2024). Net income: US$37.2m (up 49% from FY 2024). Profit margin: 33% (up from 26% in FY 2024). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.29% (up from 3.17% in FY 2024). Cost-to-income ratio: 51.2% (down from 60.2% in FY 2024). Non-performing loans: 0.28% (up from 0.18% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.2%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Recent Insider Transactions • Mar 08
Independent Chairman of the Board recently bought US$191k worth of stock On the 6th of March, Sang Lee bought around 9k shares on-market at roughly US$22.19 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Sang has been a buyer over the last 12 months, purchasing a net total of US$1.0m worth in shares. Recent Insider Transactions • Mar 02
Independent Chairman of the Board recently bought US$112k worth of stock On the 23rd of February, Sang Lee bought around 5k shares on-market at roughly US$22.48 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Sang has been a buyer over the last 12 months, purchasing a net total of US$797k worth in shares. Declared Dividend • Feb 02
Fourth quarter dividend increased to US$0.22 Dividend of US$0.22 is 10.0% higher than last year. Ex-date: 13th February 2026 Payment date: 20th February 2026 Dividend yield will be 3.6%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (31% payout ratio) and is expected to be well covered in 3 years' time (28% forecast payout ratio). The dividend has increased by an average of 23% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 16% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 01
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: US$2.62 (up from US$1.75 in FY 2024). Revenue: US$111.7m (up 16% from FY 2024). Net income: US$37.2m (up 49% from FY 2024). Profit margin: 33% (up from 26% in FY 2024). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.29% (up from 3.17% in FY 2024). Cost-to-income ratio: 51.2% (down from 60.2% in FY 2024). Non-performing loans: 0.28% (up from 0.18% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.2%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Jan 30
Pcb Bancorp Declares 10% Increase in Quarterly Cash Dividend for the First Quarter of 2026, Payable on or About February 20, 2026 PCB Bancorp announced that on January 28, 2026, its Board of Directors declared a quarterly cash dividend of $0.22 per common share for the first quarter of 2026. The dividend will be paid on or about February 20, 2026, to shareholders of record as of the close of business on February 13, 2026. Price Target Changed • Dec 19
Price target increased by 8.6% to US$25.25 Up from US$23.25, the current price target is an average from 2 analysts. New target price is 5.6% above last closing price of US$23.92. Stock is up 19% over the past year. The company is forecast to post earnings per share of US$2.55 for next year compared to US$1.75 last year. Declared Dividend • Oct 27
Third quarter dividend of US$0.20 announced Shareholders will receive a dividend of US$0.20. Ex-date: 7th November 2025 Payment date: 14th November 2025 Dividend yield will be 3.7%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (32% payout ratio) and is expected to be well covered in 3 years' time (28% forecast payout ratio). The dividend has increased by an average of 22% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 17% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 26
Third quarter 2025 earnings: EPS exceeds analyst expectations Third quarter 2025 results: EPS: US$0.80 (up from US$0.52 in 3Q 2024). Revenue: US$30.8m (up 22% from 3Q 2024). Net income: US$11.3m (up 52% from 3Q 2024). Profit margin: 37% (up from 30% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 31%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Oct 24
PCB Bancorp Declares Quarterly Cash Dividend, Payable on or About November 14, 2025 PCB Bancorp announced that on October 22, 2025, its Board of Directors declared a quarterly cash dividend of $0.20 per common share. The dividend will be paid on or about November 14, 2025, to shareholders of record as of the close of business on November 7, 2025. Recent Insider Transactions • Aug 24
Independent Chairman of the Board recently bought US$294k worth of stock On the 21st of August, Sang Lee bought around 14k shares on-market at roughly US$21.55 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$390k. Sang has been a buyer over the last 12 months, purchasing a net total of US$1.9m worth in shares. Reported Earnings • Aug 13
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: US$0.63 (up from US$0.43 in 2Q 2024). Revenue: US$27.5m (up 15% from 2Q 2024). Net income: US$8.91m (up 45% from 2Q 2024). Profit margin: 32% (up from 26% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 10%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 7.7% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Board Change • Aug 13
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 5 highly experienced directors. Independent Director Janice Chung was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 25
PCB Bancorp Declares Quarterly Cash Dividend, Payable on or About August 15, 2025 PCB Bancorp announced that on July 23, 2025, its Board of Directors declared a quarterly cash dividend of $0.20 per common share. The dividend will be paid on or about August 15, 2025, to shareholders of record as of the close of business on August 8, 2025. Announcement • May 24
PCB Bancorp Receives Nasdaq Notice Regarding Late Form 10-Q Filing PCB Bancorp announced that it received a notice from the Nasdaq Stock Market (“Nasdaq”) on May 22, 2025 notifying the Company that because its Form 10-Q for the quarter ended March 31, 2025 (the “First Quarter 10-Q”) was not filed with the Securities and Exchange Commission (“SEC”) by the required due date, the Company is not in compliance with the periodic filing requirements for continued listing under Nasdaq Listing Rule 5250(c)(1). Nasdaq’s notice has no immediate effect on the listing or trading of the Company’s shares on the Nasdaq Global Select Market, although there can be no assurances that further delays in the filing of the First Quarter 10-Q or the Company’s other SEC reports will not have an impact on the listing or trading of the Company’s common stock. As previously disclosed on the Company’s Form 12b-25 filed with the SEC on May 12, 2025, the Company has been unable to complete and timely file the First Quarter 10-Q because it requires additional time to determine the value of a Securities Purchase Option Agreement affording the Company the right, subject to certain conditions, to repurchase its Series C Preferred Stock issued to the U.S. Treasury under the Emergency Capital Investment Program. Nasdaq has provided the Company 60 calendar days, until July 20, 2025, to submit a plan to regain compliance. If Nasdaq accepts the Company’s plan, then Nasdaq may grant the Company up to 180 days from the prescribed due date for the filing of the First Quarter 10-Q, or November 17, 2025, to regain compliance. The Company expects to file the First Quarter 10-Q as promptly as practicable and prior to the 60-day deadline for submitting a compliance plan to Nasdaq. Announcement • May 14
PCB Bancorp announced delayed 10-Q filing On 05/13/2025, PCB Bancorp announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Major Estimate Revision • May 01
Consensus EPS estimates increase by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from US$110.8m to US$114.4m. EPS estimate increased from US$2.04 to US$2.25 per share. Net income forecast to grow 17% next year vs 13% growth forecast for Banks industry in the US. Consensus price target up from US$21.00 to US$22.00. Share price rose 2.9% to US$19.52 over the past week. Declared Dividend • Apr 28
First quarter dividend of US$0.20 announced Shareholders will receive a dividend of US$0.20. Ex-date: 9th May 2025 Payment date: 16th May 2025 Dividend yield will be 4.0%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 22% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 10.0% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 25
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: US$0.54 (up from US$0.33 in 1Q 2024). Revenue: US$25.3m (up 11% from 1Q 2024). Net income: US$7.70m (up 65% from 1Q 2024). Profit margin: 31% (up from 21% in 1Q 2024). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 8.9%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 6.9% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Announcement • Apr 25
PCB Bancorp Declares Quarterly Cash Dividend, Payable on or about May 16, 2025 PCB Bancorp announced that on April 23, 2025, its Board of Directors declared a quarterly cash dividend of $0.20 per common share. The dividend will be paid on or about May 16, 2025, to shareholders of record as of the close of business on May 9, 2025. Announcement • Apr 11
PCB Bancorp, Annual General Meeting, May 28, 2025 PCB Bancorp, Annual General Meeting, May 28, 2025. Location: pcb bancorp headquarters, 3701 wilshire boulevard, suite 900, california, los angeles United States Recent Insider Transactions Derivative • Mar 28
Independent Director exercised options to buy US$186k worth of stock. On the 27th of March, Don Rhee exercised options to buy 10k shares at a strike price of around US$15.04, costing a total of US$149k. This transaction amounted to 2.5% of their direct individual holding at the time of the trade. Since March 2024, Don's direct individual holding has decreased from 723.83k shares to 716.61k. Company insiders have collectively bought US$1.9m more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Mar 16
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: US$1.75 (down from US$2.14 in FY 2023). Revenue: US$96.3m (down 3.0% from FY 2023). Net income: US$24.9m (down 19% from FY 2023). Profit margin: 26% (down from 31% in FY 2023). The decrease in margin was primarily driven by higher expenses. Net interest margin (NIM): 3.17% (down from 3.57% in FY 2023). Cost-to-income ratio: 60.2% (up from 56.5% in FY 2023). Non-performing loans: 0.18% (up from 0.17% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Recent Insider Transactions Derivative • Mar 12
President exercised options to buy US$189k worth of stock. On the 6th of March, Henry Kim exercised options to buy 10k shares at a strike price of around US$10.33, costing a total of US$103k. This transaction amounted to 4.0% of their direct individual holding at the time of the trade. Since March 2024, Henry's direct individual holding has increased from 244.26k shares to 250.96k. Company insiders have collectively bought US$1.6m more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions • Feb 14
Independent Chairman of the Board recently bought US$89k worth of stock On the 13th of February, Sang Lee bought around 5k shares on-market at roughly US$19.78 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$190k. Sang has been a buyer over the last 12 months, purchasing a net total of US$1.5m worth in shares. Declared Dividend • Feb 03
Fourth quarter dividend increased to US$0.20 Dividend of US$0.20 is 11% higher than last year. Ex-date: 14th February 2025 Payment date: 21st February 2025 Dividend yield will be 3.8%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (41% payout ratio) and is expected to be well covered in 3 years' time (33% forecast payout ratio). The dividend has increased by an average of 21% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 30% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jan 31
PCB Bancorp Declares Increased Quarterly Cash Dividend, Payable on or About February 21, 2025 PCB Bancorp announced that on January 29, 2025, its Board of Directors declared a quarterly cash dividend of $0.20 per common share. The dividend will be paid on or about February 21, 2025, to shareholders of record as of the close of business on February 14, 2025. Reported Earnings • Jan 31
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: US$1.75 (down from US$2.14 in FY 2023). Revenue: US$96.3m (down 3.0% from FY 2023). Net income: US$25.0m (down 18% from FY 2023). Profit margin: 26% (down from 31% in FY 2023). The decrease in margin was primarily driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Price Target Changed • Dec 04
Price target increased by 10% to US$22.00 Up from US$20.00, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of US$21.85. Stock is up 36% over the past year. The company is forecast to post earnings per share of US$1.74 for next year compared to US$2.14 last year. Recent Insider Transactions • Nov 19
Independent Chairman of the Board recently bought US$190k worth of stock On the 18th of November, Sang Lee bought around 9k shares on-market at roughly US$20.72 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$321k. Sang has been a buyer over the last 12 months, purchasing a net total of US$1.6m worth in shares. Recent Insider Transactions • Nov 07
President recently bought US$75k worth of stock On the 6th of November, Henry Kim bought around 4k shares on-market at roughly US$20.35 per share. This transaction amounted to 1.5% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth US$321k. This was Henry's only on-market trade for the last 12 months. Declared Dividend • Oct 28
Third quarter dividend of US$0.18 announced Dividend of US$0.18 is the same as last year. Ex-date: 8th November 2024 Payment date: 15th November 2024 Dividend yield will be 3.8%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (43% payout ratio) and is expected to be well covered in 3 years' time (33% forecast payout ratio). The dividend has increased by an average of 23% per year over the past 9 years and payments have been stable during that time. EPS is expected to grow by 34% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 25
Third quarter 2024 earnings: EPS exceeds analyst expectations Third quarter 2024 results: EPS: US$0.52 (up from US$0.49 in 3Q 2023). Revenue: US$25.3m (up 4.5% from 3Q 2023). Net income: US$7.47m (up 6.7% from 3Q 2023). Profit margin: 30% (in line with 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 16%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Oct 25
PCB Bancorp Declares Quarterly Cash Dividend, Payable on or About November 15,2024 PCB Bancorp announced that on October 24, 2024, its Board of Directors declared a quarterly cash dividend of $0.18 per common share. The dividend will be paid on or about November 15, 2024, to shareholders of record as of the close of business on November 8, 2024. Recent Insider Transactions • Sep 08
Independent Director recently sold US$462k worth of stock On the 6th of September, Daniel Cho sold around 25k shares on-market at roughly US$18.47 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought US$963k more than they sold in the last 12 months. Price Target Changed • Jul 30
Price target increased by 7.4% to US$18.25 Up from US$17.00, the current price target is an average from 2 analysts. New target price is 7.1% below last closing price of US$19.64. Stock is up 19% over the past year. The company is forecast to post earnings per share of US$1.69 for next year compared to US$2.14 last year. Declared Dividend • Jul 29
Second quarter dividend of US$0.18 announced Dividend of US$0.18 is the same as last year. Ex-date: 9th August 2024 Payment date: 16th August 2024 Dividend yield will be 3.6%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 23% per year over the past 9 years and payments have been stable during that time. EPS is expected to grow by 6.8% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 26
Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2024 results: EPS: US$0.43 (down from US$0.52 in 2Q 2023). Revenue: US$24.0m (flat on 2Q 2023). Net income: US$6.14m (down 18% from 2Q 2023). Profit margin: 26% (down from 31% in 2Q 2023). Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) exceeded analyst estimates by 11%. Revenue is forecast to grow 9.5% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Jul 26
PCB Bancorp Declares Quarterly Cash Dividend, Payable on or About August 16, 2024 PCB Bancorp announced that on July 24, 2024, its Board of Directors declared a quarterly cash dividend of $0.18 per common share. The dividend will be paid on or about August 16, 2024, to shareholders of record as of the close of business on August 9, 2024. Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$17.79, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Banks industry in the US. Total returns to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$28.34 per share. Recent Insider Transactions • May 24
Independent Chairman of the Board recently bought US$75k worth of stock On the 23rd of May, Sang Lee bought around 5k shares on-market at roughly US$15.00 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$139k. Sang has been a buyer over the last 12 months, purchasing a net total of US$1.4m worth in shares. Price Target Changed • Apr 29
Price target decreased by 8.1% to US$17.00 Down from US$18.50, the current price target is an average from 2 analysts. New target price is 12% above last closing price of US$15.22. Stock is up 11% over the past year. The company is forecast to post earnings per share of US$1.61 for next year compared to US$2.14 last year. Declared Dividend • Apr 29
First quarter dividend of US$0.18 announced Dividend of US$0.18 is the same as last year. Ex-date: 9th May 2024 Payment date: 17th May 2024 Dividend yield will be 4.7%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 23% per year over the past 9 years and payments have been stable during that time. EPS is expected to grow by 2.0% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 27
PCB Bancorp Declares Quarterly Cash Dividend, Payable on or About May 17, 2024 PCB Bancorp announced that on April 25, 2024, its Board of Directors declared a quarterly cash dividend of $0.18 per common share. The dividend will be paid on or about May 17, 2024, to shareholders of record as of the close of business on May 10, 2024. Reported Earnings • Apr 27
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: US$0.33 (down from US$0.71 in 1Q 2023). Revenue: US$22.9m (down 19% from 1Q 2023). Net income: US$4.69m (down 54% from 1Q 2023). Profit margin: 21% (down from 36% in 1Q 2023). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 5.4%. Earnings per share (EPS) also missed analyst estimates by 26%. Revenue is forecast to grow 8.6% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 1% per year. Announcement • Apr 09
PCB Bancorp, Annual General Meeting, May 23, 2024 PCB Bancorp, Annual General Meeting, May 23, 2024, at 10:30 Pacific Standard Time. Location: PCB Bancorp Headquarters 3701 Wilshire Boulevard, Suite 900 Los Angelas California United States Agenda: To elect eight persons to the Board of Directors of the Company to serve until the next Annual Meeting and until their successors have been elected and have qualified; to approve, on a non-binding advisory basis, the compensation of the Company’s named executive officers; to approve, on a non-binding advisory basis, whether future shareholder advisory votes on the compensation of the Company’s named executive officers should be held every one, two or three years; to approve an amendment to the Company’s bylaws authorizing a range of seven to 13 directors; to ratify the appointment of Crowe LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024; and to transact other business. Reported Earnings • Mar 14
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: US$2.14 (down from US$2.35 in FY 2022). Revenue: US$99.3m (down 1.2% from FY 2022). Net income: US$30.6m (down 12% from FY 2022). Profit margin: 31% (down from 35% in FY 2022). The decrease in margin was primarily driven by higher expenses. Net interest margin (NIM): 3.57% (down from 4.08% in FY 2022). Cost-to-income ratio: 56.5% (up from 49.1% in FY 2022). Non-performing loans: 0.17% (down from 0.36% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.9%. Revenue is forecast to grow 4.7% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Feb 25
Independent Chairman of the Board recently bought US$67k worth of stock On the 22nd of February, Sang Lee bought around 4k shares on-market at roughly US$15.95 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$129k. Sang has been a buyer over the last 12 months, purchasing a net total of US$1.8m worth in shares. Upcoming Dividend • Feb 01
Upcoming dividend of US$0.18 per share at 4.3% yield Eligible shareholders must have bought the stock before 08 February 2024. Payment date: 16 February 2024. Trailing yield: 4.3%. Lower than top quartile of American dividend payers (4.6%). Higher than average of industry peers (3.1%). Declared Dividend • Jan 29
Fourth quarter dividend of US$0.18 announced Shareholders will receive a dividend of US$0.18. Ex-date: 8th February 2024 Payment date: 16th February 2024 Dividend yield will be 4.1%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (32% payout ratio) and is expected to be well covered in 3 years' time (44% forecast payout ratio). The dividend has increased by an average of 23% per year over the past 9 years and payments have been stable during that time. EPS is expected to decline by 16% over the next 2 years. However, it would need to fall by 64% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Jan 26
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: US$2.15 (down from US$2.35 in FY 2022). Revenue: US$99.3m (down 1.2% from FY 2022). Net income: US$30.7m (down 12% from FY 2022). Profit margin: 31% (down from 35% in FY 2022). The decrease in margin was primarily driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.9%. Revenue is forecast to grow 4.0% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 15% per year. Announcement • Jan 26
PCB Bancorp Declares Quarterly Cash Dividend, Payable on or about February 16, 2024 PCB Bancorp announced that on January 25, 2024, its Board of Directors declared a quarterly cash dividend of $0.18 per common share. The dividend will be paid on or about February 16, 2024, to shareholders of record as of the close of business on February 9, 2024. Price Target Changed • Dec 16
Price target increased by 9.4% to US$17.50 Up from US$16.00, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of US$18.14. Stock is down 3.7% over the past year. The company is forecast to post earnings per share of US$2.21 for next year compared to US$2.35 last year. Recent Insider Transactions • Nov 24
Independent Chairman of the Board recently bought US$140k worth of stock On the 22nd of November, Sang Lee bought around 9k shares on-market at roughly US$15.64 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$178k. Sang has been a buyer over the last 12 months, purchasing a net total of US$1.9m worth in shares. Upcoming Dividend • Nov 01
Upcoming dividend of US$0.18 per share at 4.7% yield Eligible shareholders must have bought the stock before 08 November 2023. Payment date: 17 November 2023. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of American dividend payers (5.3%). Higher than average of industry peers (4.1%). Reported Earnings • Oct 26
Third quarter 2023 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2023 results: EPS: US$0.49 (up from US$0.47 in 3Q 2022). Revenue: US$24.2m (up 3.2% from 3Q 2022). Net income: US$7.02m (up 1.4% from 3Q 2022). Profit margin: 29% (in line with 3Q 2022). Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to stay flat during the next 2 years compared to a 4.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 18% per year. Announcement • Oct 26
PCB Bancorp Declares Quarterly Cash Dividend, to Be Paid on or About November 17, 2023 PCB Bancorp the holding company of PCB Bank, announced that on October 25, 2023, its Board of Directors declared a quarterly cash dividend of $0.18 per common share. The dividend will be paid on or about November 17, 2023, to shareholders of record as of the close of business on November 9, 2023. Recent Insider Transactions • Sep 07
Independent Chairman of the Board recently bought US$178k worth of stock On the 6th of September, Sang Lee bought around 11k shares on-market at roughly US$15.93 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$309k. Sang has been a buyer over the last 12 months, purchasing a net total of US$2.0m worth in shares. Recent Insider Transactions • Aug 10
Independent Chairman of the Board recently bought US$309k worth of stock On the 9th of August, Sang Lee bought around 19k shares on-market at roughly US$16.10 per share. This transaction amounted to 1.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Sang has been a buyer over the last 12 months, purchasing a net total of US$2.4m worth in shares. Price Target Changed • Aug 06
Price target increased by 9.4% to US$17.50 Up from US$16.00, the current price target is an average from 2 analysts. New target price is 8.2% above last closing price of US$16.18. Stock is down 18% over the past year. The company is forecast to post earnings per share of US$2.20 for next year compared to US$2.35 last year. Upcoming Dividend • Aug 03
Upcoming dividend of US$0.18 per share at 4.4% yield Eligible shareholders must have bought the stock before 10 August 2023. Payment date: 18 August 2023. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of American dividend payers (4.7%). Higher than average of industry peers (3.4%). Reported Earnings • Jul 30
Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2023 results: EPS: US$0.52 (down from US$0.61 in 2Q 2022). Revenue: US$24.2m (down 3.7% from 2Q 2022). Net income: US$7.48m (down 17% from 2Q 2022). Profit margin: 31% (down from 36% in 2Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) exceeded analyst estimates by 2.0%. Revenue is forecast to stay flat during the next 2 years compared to a 4.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • Jul 28
PCB Bancorp Bancorp Declares Quarterly Cash Dividend, Payable on or about August 18, 2023 PCB Bancorp announced that on July 27, 2023, its Board of Directors declared a quarterly cash dividend of $0.18 per common share. The dividend will be paid on or about August 18, 2023, to shareholders of record as of the close of business on August 11, 2023. Recent Insider Transactions Derivative • Jul 17
Independent Director exercised options to buy US$375k worth of stock. On the 14th of July, Kijun Ahn exercised options to buy 24k shares at a strike price of around US$10.33, costing a total of US$250k. This transaction amounted to 21% of their direct individual holding at the time of the trade. Since March 2023, Kijun has owned 117.47k shares directly. Company insiders have collectively bought US$2.2m more than they sold, via options and on-market transactions, in the last 12 months. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$16.43, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Banks industry in the US. Total returns to shareholders of 90% over the past three years. Board Change • Jun 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 4 highly experienced directors. Independent Director Janice Chung was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • May 10
Independent Chairman of the Board recently bought US$114k worth of stock On the 9th of May, Sang Lee bought around 9k shares on-market at roughly US$13.40 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$274k. Sang has been a buyer over the last 12 months, purchasing a net total of US$2.4m worth in shares. Upcoming Dividend • May 04
Upcoming dividend of US$0.18 per share at 4.5% yield Eligible shareholders must have bought the stock before 11 May 2023. Payment date: 19 May 2023. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 4.5%. Lower than top quartile of American dividend payers (5.1%). Higher than average of industry peers (3.8%). Major Estimate Revision • May 01
Consensus EPS estimates increase by 14% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from US$1.98 to US$2.25. Revenue forecast steady at US$102.8m. Net income forecast to shrink 8.4% next year vs 4.1% decline forecast for Banks industry in the US. Consensus price target of US$17.00 unchanged from last update. Share price rose 2.1% to US$13.72 over the past week. Recent Insider Transactions • Apr 30
Independent Chairman of the Board recently bought US$215k worth of stock On the 27th of April, Sang Lee bought around 16k shares on-market at roughly US$13.42 per share. This transaction amounted to 1.2% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$274k. Sang has been a buyer over the last 12 months, purchasing a net total of US$2.2m worth in shares. Price Target Changed • Apr 08
Price target decreased by 14% to US$17.00 Down from US$19.75, the current price target is provided by 1 analyst. New target price is 25% above last closing price of US$13.58. Stock is down 36% over the past year. The company is forecast to post earnings per share of US$2.18 for next year compared to US$2.35 last year. Recent Insider Transactions Derivative • Mar 26
Independent Director exercised options to buy US$99k worth of stock. On the 23rd of March, Haeyoung Cho exercised options to buy 7k shares at a strike price of around US$9.30, costing a total of US$65k. This transaction amounted to 3.0% of their direct individual holding at the time of the trade. Since March 2022, Haeyoung's direct individual holding has increased from 218.52k shares to 234.10k. Company insiders have collectively bought US$1.8m more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Mar 15
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: US$2.35 (down from US$2.66 in FY 2021). Revenue: US$100.5m (flat on FY 2021). Net income: US$34.8m (down 13% from FY 2021). Profit margin: 35% (down from 40% in FY 2021). Net interest margin (NIM): 4.08% (up from 3.83% in FY 2021). Cost-to-income ratio: 49.1% (up from 45.2% in FY 2021). Non-performing loans: 0.36% (up from 0.06% in FY 2021). Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 3.5%. Revenue is forecast to grow 9.0% p.a. on average during the next 2 years, compared to a 6.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$15.01, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Banks industry in the US. Total returns to shareholders of 67% over the past three years. Recent Insider Transactions • Mar 10
Independent Director recently sold US$202k worth of stock On the 2nd of March, Sarah Jun sold around 11k shares on-market at roughly US$18.38 per share. This transaction amounted to 4.5% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$406k. Despite this recent sale, insiders have collectively bought US$1.2m more than they sold in the last 12 months. Recent Insider Transactions • Mar 02
Independent Director recently sold US$406k worth of stock On the 23rd of February, Sarah Jun sold around 22k shares on-market at roughly US$18.45 per share. This transaction amounted to 8.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought US$1.3m more than they sold in the last 12 months. Recent Insider Transactions • Feb 17
Independent Chairman of the Board recently bought US$128k worth of stock On the 16th of February, Sang Lee bought around 7k shares on-market at roughly US$18.23 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$232k. Sang has been a buyer over the last 12 months, purchasing a net total of US$2.2m worth in shares. Price Target Changed • Feb 06
Price target decreased by 7.1% to US$19.75 Down from US$21.25, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of US$18.91. Stock is down 25% over the past year. The company is forecast to post earnings per share of US$2.28 for next year compared to US$2.36 last year. Upcoming Dividend • Feb 02
Upcoming dividend of US$0.15 per share at 3.2% yield Eligible shareholders must have bought the stock before 09 February 2023. Payment date: 17 February 2023. Trailing yield: 3.2%. Lower than top quartile of American dividend payers (4.2%). In line with average of industry peers (3.0%). Reported Earnings • Jan 30
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: US$2.36 (down from US$2.66 in FY 2021). Revenue: US$100.5m (flat on FY 2021). Net income: US$35.0m (down 12% from FY 2021). Profit margin: 35% (down from 40% in FY 2021). Net interest margin (NIM): 4.08% (up from 3.83% in FY 2021). Cost-to-income ratio: 49.1% (up from 45.2% in FY 2021). Non-performing loans: 0.36% (up from 0.06% in FY 2021). Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 3.5%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 6.5% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Jan 27
PCB Bancorp Declares Quarterly Cash Dividend, Payable on or About February 17, 2023 PCB Bancorp announced that on January 26, 2023, its Board of Directors declared a quarterly cash dividend of $0.15 per common share. The dividend will be paid on or about February 17, 2023, to shareholders of record as of the close of business on February 10, 2023. Price Target Changed • Dec 15
Price target decreased to US$20.75 Down from US$22.75, the current price target is an average from 2 analysts. New target price is 14% above last closing price of US$18.20. Stock is down 15% over the past year. The company is forecast to post earnings per share of US$2.39 for next year compared to US$2.66 last year. Recent Insider Transactions • Dec 07
Independent Chairman of the Board recently bought US$232k worth of stock On the 5th of December, Sang Lee bought around 13k shares on-market at roughly US$18.40 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Sang has been a buyer over the last 12 months, purchasing a net total of US$2.2m worth in shares. Recent Insider Transactions • Nov 20
Insider recently sold US$56k worth of stock On the 18th of November, Justin Chon sold around 3k shares on-market at roughly US$18.85 per share. This transaction amounted to 84% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought US$2.4m more than they sold in the last 12 months. Major Estimate Revision • Nov 03
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$109.7m to US$105.9m. EPS estimate also fell from US$2.68 per share to US$2.39 per share. Net income forecast to grow 4.7% next year vs 15% growth forecast for Banks industry in the US. Consensus price target of US$21.25 unchanged from last update. Share price fell 6.3% to US$18.56 over the past week.