Don Rhee, a director at PCB Bancorp (NASDAQ:PCB), recently increased his stake in the company by acquiring a total of 7,300 shares. The purchases, which took place on November 29, 2024, were made at prices ranging from $21.0599 to $21.3487 per share, totaling approximately $154,913. Following these transactions, Rhee's direct and indirect holdings amount to 399,144 shares. The acquisitions were executed through a family trust and Rhee Family Venture LLC.The timing of Rhee's purchase appears strategic, with PCB trading near its 52-week high and showing strong momentum with a 44% gain over the past six months. The $307 million market cap bank currently offers a 3.35% dividend yield and trades at a P/E ratio of 12.7. According to InvestingPro analysis, PCB Bancorp is currently fairly valued, with additional ProTips available covering dividend history and profitability metrics.
In other recent news, Piper Sandler has adjusted its price target for Pacific Financial Corp., increasing it to $21. The financial services firm maintains a neutral rating on the stock and has revised its earnings per share (EPS) estimates for the upcoming years. The firm now expects Pacific Financial to post an EPS of $1.75 in 2024, $2.03 in 2025, and introduced a new EPS estimate of $2.38 for 2026.
In addition, PCB Bancorp, the parent company of PCB Bank, has announced a quarterly cash dividend of $0.18 per common share, payable in mid-November. Continuing its tradition of quarterly profit distribution, PCB Bancorp has also extended its stock repurchase program to August 2025, allowing for the potential repurchase of up to 577,777 shares.
Despite a previous adjustment of Pacific Financial Corp.'s stock price target from $18.00 to $17.00, Piper Sandler has maintained a neutral rating on the shares. The firm has also increased its EPS estimates for Pacific Financial Corp. for 2024 and 2025 to $1.71 and $1.70, respectively. These are recent developments providing an updated financial outlook for Pacific Financial Corp. and PCB Bancorp, based on company announcements and analyst notes from firms such as Piper Sandler.
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