Basswood Capital Management L.L.C. Has $5.75 Million Holdings in Pacific City Financial Corporation (PCB)

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Basswood Capital Management L.L.C. raised its position in shares of Pacific City Financial Corporation (NYSE:PCB) by 1.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 367,668 shares of the company’s stock after purchasing an additional 6,499 shares during the quarter. Basswood Capital Management L.L.C. owned 2.30% of Pacific City Financial worth $5,754,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PCB. Legal & General Group Plc bought a new stake in shares of Pacific City Financial in the third quarter worth approximately $33,000. New York State Common Retirement Fund bought a new stake in shares of Pacific City Financial in the fourth quarter worth approximately $72,000. Wells Fargo & Company MN bought a new stake in shares of Pacific City Financial in the third quarter worth approximately $114,000. Bank of Montreal Can grew its stake in shares of Pacific City Financial by 100.1% in the fourth quarter. Bank of Montreal Can now owns 8,388 shares of the company’s stock worth $131,000 after acquiring an additional 4,197 shares during the period. Finally, American International Group Inc. bought a new stake in shares of Pacific City Financial in the third quarter worth approximately $152,000.

PCB opened at $17.00 on Monday. Pacific City Financial Corporation has a 12-month low of $13.36 and a 12-month high of $20.95.

Pacific City Financial (NYSE:PCB) last posted its quarterly earnings data on Thursday, January 24th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $20.10 million during the quarter, compared to analysts’ expectations of $19.90 million.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 28th were issued a $0.05 dividend. This is an increase from Pacific City Financial’s previous quarterly dividend of $0.03. The ex-dividend date was Wednesday, February 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.18%.

Separately, Zacks Investment Research upgraded shares of Pacific City Financial from a “sell” rating to a “hold” rating in a research note on Thursday.

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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.

Further Reading: How to find the components of the quick ratio

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Institutional Ownership by Quarter for Pacific City Financial (NYSE:PCB)

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