Pacific City Financial (PCB) Upgraded to Hold at Zacks Investment Research

Share on StockTwits

Zacks Investment Research upgraded shares of Pacific City Financial (NYSE:PCB) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

According to Zacks, “Pacific City Financial Corporation is the parent company of Pacific City Bank a commercial bank. Pacific City Bank specializes in commercial banking for small to medium-size businesses by providing commercial real estate loans, small business loans and lines of credit, trade finance loans, auto loans, residential mortgage loans and SBA loans. It operates primarily in Lynwood and Bellevue, Washington; Denver, Colorado; Chicago, Illinois; Annandale, Virginia; Atlanta, Georgia; Orange County and Los Angeles, California; Bayside, New York and Carrollton, Texas. Pacific City Financial Corporation is headquartered in Los Angeles, California. “

Shares of Pacific City Financial stock traded up $0.21 on Thursday, hitting $16.75. The stock had a trading volume of 776 shares, compared to its average volume of 36,664. Pacific City Financial has a 52-week low of $13.36 and a 52-week high of $20.95.

Pacific City Financial (NYSE:PCB) last posted its earnings results on Thursday, January 24th. The company reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.02. The firm had revenue of $20.10 million during the quarter, compared to analysts’ expectations of $19.90 million.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 28th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Wednesday, February 27th. This is a boost from Pacific City Financial’s previous quarterly dividend of $0.03.

Hedge funds have recently modified their holdings of the stock. Marshall Wace LLP acquired a new position in Pacific City Financial in the 3rd quarter valued at about $380,000. Engineers Gate Manager LP acquired a new position in Pacific City Financial in the 3rd quarter valued at about $277,000. TIAA CREF Investment Management LLC acquired a new position in Pacific City Financial in the 3rd quarter valued at about $317,000. Pacific Ridge Capital Partners LLC acquired a new position in Pacific City Financial in the 3rd quarter valued at about $2,634,000. Finally, Vanguard Group Inc acquired a new position in Pacific City Financial in the 3rd quarter valued at about $1,327,000.

Pacific City Financial Company Profile

Pacific City Financial Corporation operates as a 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. The company offers checking, savings, and money market accounts, as well as certificates of deposit.

Read More: NASDAQ Stock Market Explained

Get a free copy of the Zacks research report on Pacific City Financial (PCB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Pacific City Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific City Financial and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Rizal Resources  Sets New 1-Year Low at $0.01
Rizal Resources Sets New 1-Year Low at $0.01
Bean Cash Price Hits $0.0014 on Major Exchanges
Bean Cash Price Hits $0.0014 on Major Exchanges
$1.93 Earnings Per Share Expected for United Parcel Service, Inc.  This Quarter
$1.93 Earnings Per Share Expected for United Parcel Service, Inc. This Quarter
RDI Reit  Reaches New 12-Month Low at $116.80
RDI Reit Reaches New 12-Month Low at $116.80
Contourglobal PLC  Insider Purchases £20,573.40 in Stock
Contourglobal PLC Insider Purchases £20,573.40 in Stock
Crowdholding Tops 24 Hour Trading Volume of $240.00
Crowdholding Tops 24 Hour Trading Volume of $240.00


© 2006-2019 Ticker Report