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.
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
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.