PCB Bancorp extends stock repurchase program through July 2026

LOS ANGELES - PCB Bancorp (NASDAQ:PCB), the holding company of PCB Bank, announced Thursday that its Board of Directors has extended its stock repurchase program for an additional year, now set to expire on July 31, 2026. According to InvestingPro data, the bank currently trades at an attractive P/E ratio of 10.7 and offers a 3.85% dividend yield, having maintained dividend payments for 10 consecutive years.

The program, initially adopted on August 2, 2023, authorizes the repurchase of up to 720,000 shares of the company’s outstanding common stock. As of July 23, PCB Bancorp has repurchased and retired 291,527 shares, leaving 428,473 shares still authorized for repurchase. With a market capitalization of approximately $296 million and strong financial health metrics, InvestingPro analysis suggests the stock is currently trading below its Fair Value.

Under the program, the company may purchase shares through various means including open market transactions and privately negotiated deals. The timing, manner, price and volume of repurchases will be determined at the company’s discretion based on factors including stock price, trading volume, market conditions and business considerations.

PCB Bancorp also plans to enter into a trading plan in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, which would allow common stock to be repurchased during periods when the company might otherwise be restricted from doing so under insider trading laws.

The repurchase program may be suspended or discontinued at any time and does not obligate the company to acquire any specific number of shares.

PCB Bancorp is a California-based bank holding company offering commercial banking services primarily to small and medium-sized businesses in Southern California, with a focus on Korean-American and other minority communities. The company has demonstrated solid performance with a 5% revenue CAGR over the past five years, and three analysts have recently revised their earnings expectations upward for the upcoming period. Discover more detailed financial insights and 8 additional ProTips by visiting InvestingPro.

This article is based on information from a company press release.

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