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Lee Sang Young, a director at PCB Bancorp (NASDAQ:PCB), recently acquired shares of the company in a series of transactions. On November 15 and 18, Lee purchased a total of 9,174 shares of PCB Bancorp's common stock. The shares were bought at prices ranging from $20.60 to $20.80 per share, amounting to a total transaction value of $190,101.
These transactions were conducted through a family trust, reflecting Lee's indirect ownership of the acquired shares. Following these purchases, Lee holds 1,517,708 shares of PCB Bancorp. The acquisitions underscore his ongoing investment in the company, which operates as a state commercial bank.
In other recent news, Pacific Financial Corp. has seen changes in its financial outlook, as Piper Sandler, a financial services firm, adjusted its price target for the company, raising it to $21. This adjustment follows revised earnings per share (EPS) estimates for the years 2024 and 2025, with projections of $1.75 and $2.03 respectively. A new EPS estimate for 2026 was also introduced, projecting an EPS of $2.38 for Pacific Financial.
In other developments, PCB Bancorp, the parent company of PCB Bank, has declared a quarterly cash dividend of $0.18 per common share, continuing its practice of quarterly profit distribution. The company also extended its stock repurchase program to August 2025, allowing for the potential repurchase of up to 577,777 shares.
Despite a previous downgrade of Pacific Financial's stock price target, Piper Sandler maintained a Neutral rating on the shares and increased its earnings per share estimates for the company for 2024 and 2025. These updates are recent developments reflecting the ongoing financial activities and strategic decisions of these companies, based on company announcements and analyst notes from firms like Piper Sandler.
InvestingPro Insights
Lee Sang Young's recent acquisition of PCB Bancorp shares aligns with several positive indicators highlighted by InvestingPro data. The company's stock is currently trading near its 52-week high, with a strong return of 13.98% over the last month and an impressive 34.89% over the past six months. This performance suggests growing investor confidence in PCB Bancorp's prospects.
The bank's financial health appears solid, with a P/E ratio of 12.18, indicating a reasonable valuation compared to earnings. Additionally, PCB Bancorp boasts a dividend yield of 3.46%, which may have factored into Lee's decision to increase his stake. An InvestingPro Tip notes that the company has maintained dividend payments for 9 consecutive years, demonstrating a commitment to shareholder returns.
However, investors should be aware that 2 analysts have revised their earnings downwards for the upcoming period, according to another InvestingPro Tip. This could signal some potential headwinds for the bank in the near term.
For a more comprehensive analysis, InvestingPro offers 8 additional tips on PCB Bancorp, providing deeper insights into the company's financial position and market performance.
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