Group 1 - The regional banking sector has experienced significant volatility over the past five years, initially declining at the onset of the pandemic before rebounding due to government relief programs [1] - The sector's recovery was driven by major economic support measures implemented to mitigate the impact of the pandemic [1] Group 2 - Ian Bezek, a former hedge fund analyst, has extensive experience in conducting on-the-ground research in Latin American markets, focusing on countries like Mexico, Colombia, and Chile [2] - Bezek specializes in identifying high-quality compounders and growth stocks at reasonable prices in both the US and other developed markets [2]

Company Performance - PCB Bancorp reported quarterly earnings of $0.53 per share, exceeding the Zacks Consensus Estimate of $0.51 per share, and up from $0.33 per share a year ago, representing an earnings surprise of 3.92% [1] - The company posted revenues of $26.86 million for the quarter ended March 2025, which was below the Zacks Consensus Estimate by 0.19%, and an increase from $23.94 million year-over-year [2] - Over the last four quarters, PCB Bancorp has surpassed consensus EPS estimates three times, but has only topped consensus revenue estimates once [2] Stock Outlook - PCB Bancorp shares have declined approximately 5.9% since the beginning of the year, while the S&P 500 has decreased by 8.6% [3] - The company's earnings outlook is favorable, with a current consensus EPS estimate of $0.52 on revenues of $27.66 million for the coming quarter, and $2.11 on revenues of $112.36 million for the current fiscal year [7] - The Zacks Rank for PCB Bancorp is currently 2 (Buy), indicating expectations for the stock to outperform the market in the near future [6] Industry Context - The Banks - Southwest industry, to which PCB Bancorp belongs, is currently ranked in the top 5% of over 250 Zacks industries, suggesting a strong performance potential [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Financial Performance - Net income available to common shareholders for Q1 2025 was $7.7 million, or $0.53 per diluted common share, representing a 15.1% increase from the previous quarter and a 64.2% increase year-over-year[1][4]. - Net interest income for the current quarter was $24.3 million, a 4.8% increase from the previous quarter and a 15.6% increase year-over-year[4][5]. - The company maintains a positive outlook for the year, with organic growth outpacing its peer group despite current geopolitical uncertainties[3]. - The efficiency ratio was reported at 53.88%, indicating improved operational efficiency compared to 68.29% in the year-ago quarter[5]. - Total noninterest income decreased by 15.2% to $2,580,000 in Q1 2025 from $3,043,000 in Q4 2024[15]. - Total noninterest expense increased by 4.2% to $14,474,000 in Q1 2025 from $13,894,000 in Q4 2024[16]. - Provision for credit losses decreased by 20.2% to $1,598,000 compared to Q4 2024[42]. - Net income rose to $7,735,000, compared to $7,030,000 in the prior quarter and $4,685,000 in the same quarter last year[48]. Asset and Deposit Growth - Total assets increased to $3.18 billion, up $119.8 million, or 3.9%, from the previous quarter and up $329.5 million, or 11.5%, from the same quarter last year[4][5]. - Total deposits reached $2.71 billion, up $98.6 million, or 3.8%, from the previous quarter and up $311.6 million, or 13.0%, from the same quarter last year[4][5]. - Total deposits amounted to $2,714,399 thousand as of March 31, 2025, a 3.8% increase from $2,615,791 thousand at December 31, 2024[29]. - Retail deposits increased by $148.6 million, or 7.0%, from $2.11 billion at December 31, 2024[30]. - Total assets grew to $3,183,758,000, compared to $3,063,971,000 in the previous quarter and $2,854,292,000 a year ago[49]. Loan Performance - Loans held-for-investment rose to $2.73 billion, an increase of $98.2 million, or 3.7%, from the previous quarter and an increase of $329.6 million, or 13.7%, year-over-year[4][5]. - Total loans increased by 3.9% to $2,739,711,000 as of March 31, 2025, from $2,635,679,000 at December 31, 2024[23]. - Loans held-for-sale surged by 92.3% to $12,101,000 in Q1 2025 from $6,292,000 in Q4 2024[23]. - The total loan to total deposit ratio was 100.93%, slightly up from 100.76%[39]. Credit Quality - The provision for credit losses was $1.6 million, down 20.2% from the previous quarter and up 46.6% year-over-year[4][5]. - The allowance for credit losses on loans to loans held-for-investment ratio was 1.17% as of March 31, 2025, slightly up from 1.16% at December 31, 2024[4]. - Total nonaccrual loans held-for-investment increased to $6,248 thousand as of March 31, 2025, a 33.1% increase from $4,693 thousand at December 31, 2024[26]. - Allowance for Credit Losses (ACL) on loans rose to $31,942 thousand at March 31, 2025, reflecting a 4.3% increase from $30,628 thousand at December 31, 2024[27]. Shareholder Information - The company paid a dividend of $0.20 per common share, an increase from $0.18 in Q4 2024[42]. - Total shareholders' equity increased to $370,864,000, up from $363,814,000 in the previous quarter and $350,005,000 a year ago[49]. - Book value per common share improved to $25.78 from $25.30 in the prior quarter and $24.54 year-over-year[49]. - The company repurchased 50,676 shares of common stock at a weighted-average price of $18.80, totaling $953 thousand during the current quarter[33].

Company Overview - PCB Bancorp is headquartered in Los Angeles and operates in the finance sector, experiencing a price change of -6.32% this year [3] - The company currently pays a dividend of $0.20 per share, resulting in a dividend yield of 4.22%, significantly higher than the Banks - Southwest industry's yield of 1.16% and the S&P 500's yield of 1.69% [3] Dividend Performance - PCB Bancorp's annualized dividend of $0.80 has increased by 11.1% from the previous year [4] - Over the past five years, the company has raised its dividend three times, achieving an average annual increase of 17.45% [4] - The current payout ratio stands at 41%, indicating that the company distributes 41% of its trailing 12-month earnings per share as dividends [4] Earnings Growth - PCB Bancorp is projected to see earnings growth this fiscal year, with the Zacks Consensus Estimate for 2025 at $2.11 per share, reflecting a year-over-year growth rate of 21.26% [5] Investment Appeal - PCB Bancorp is considered an attractive dividend investment and a compelling opportunity, holding a Zacks Rank of 2 (Buy) [7]

Company Overview - PCB Bancorp is expected to report quarterly earnings of $0.51 per share, reflecting a year-over-year increase of +54.6% [3] - Revenues are anticipated to reach $26.92 million, which is a 12.5% increase from the same quarter last year [3] Earnings Estimates and Revisions - The consensus EPS estimate has been revised 4.04% higher in the last 30 days, indicating a positive reassessment by analysts [4] - The Most Accurate Estimate for PCB Bancorp is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +0.99% [10][11] Earnings Surprise Potential - A positive Earnings ESP reading suggests a strong likelihood of an earnings beat, especially when combined with a Zacks Rank of 2 (Buy) [8] - PCB Bancorp has a Zacks Rank of 2, indicating a favorable outlook for surpassing the consensus EPS estimate [11] Historical Performance - In the last reported quarter, PCB Bancorp met the expected earnings of $0.46 per share, resulting in no surprise [12] - Over the past four quarters, the company has beaten consensus EPS estimates two times [13] Industry Context - In the Zacks Banks - Southwest industry, Banc of California is expected to post earnings of $0.24 per share, reflecting a year-over-year change of +26.3% [17] - Banc of California's revenue is projected to be $272.46 million, slightly down by 0.2% from the previous year [17] - The consensus EPS estimate for Banc of California has remained unchanged, but a higher Most Accurate Estimate has led to an Earnings ESP of 3.31%, suggesting a likely earnings beat [18]

Core Viewpoint - PCB Bancorp (PCB) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system emphasizes the correlation between changes in earnings estimates and stock price movements, suggesting that upward revisions in earnings estimates can lead to increased buying pressure and higher stock prices [4][5]. - PCB Bancorp's earnings per share (EPS) is projected to be $2.11 for the fiscal year ending December 2025, reflecting a year-over-year increase of 21.3% [8]. Zacks Rank System - The Zacks Rank system categorizes stocks based on earnings estimate revisions, with a proven track record of generating significant returns, particularly for Zacks Rank 1 stocks, which have averaged a +25% annual return since 1988 [7]. - PCB Bancorp's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating strong potential for market-beating returns in the near term [10]. Analyst Sentiment - Analysts have consistently raised their earnings estimates for PCB Bancorp, with the Zacks Consensus Estimate increasing by 5.8% over the past three months [8].

Company Overview - PCB Bancorp is headquartered in Los Angeles and operates in the Finance sector, experiencing a price change of -15.86% year-to-date [3] - The company currently pays a dividend of $0.2 per share, resulting in a dividend yield of 4.7%, significantly higher than the Banks - Southwest industry's yield of 1.16% and the S&P 500's yield of 1.73% [3] Dividend Performance - PCB Bancorp's annualized dividend of $0.80 has increased by 11.1% from the previous year [4] - Over the past five years, the company has raised its dividend three times, achieving an average annual increase of 17.40% [4] - The current payout ratio stands at 41%, indicating that the company distributes 41% of its trailing 12-month earnings per share as dividends [4] Earnings Growth Expectations - For the fiscal year 2025, PCB Bancorp anticipates solid earnings growth, with the Zacks Consensus Estimate projecting earnings of $2.11 per share, reflecting a year-over-year growth rate of 21.26% [5] Investment Appeal - PCB Bancorp is viewed as an attractive dividend investment opportunity, supported by a Zacks Rank of 2 (Buy) [7] - The company is positioned as a compelling option for income investors, particularly due to its strong dividend yield and growth potential [7]

Financial Performance - PCB Bancorp reported $26 21 million in revenue for Q4 2024, a 7 3% YoY increase [1] - EPS for the quarter was $0 46, up from $0 41 a year ago [1] - Revenue exceeded the Zacks Consensus Estimate of $25 88 million by 1 28% [1] - EPS matched the consensus estimate of $0 46, with no surprise [1] Key Metrics Analysis - Average Balance - Total interest-earning assets: $2 89 billion, slightly above the two-analyst average estimate of $2 86 billion [4] - Efficiency ratio: 53%, better than the 57 1% estimated by two analysts [4] - Non-Performing Loans: $4 69 million, below the $6 64 million average estimate [4] - Net Interest Margin: 3 2%, in line with the two-analyst average estimate [4] - Non-Performing Assets: $4 69 million, below the $6 87 million average estimate [4] - Total Noninterest Income: $3 04 million, above the $2 94 million average estimate [4] - Net Interest Income: $23 16 million, slightly above the $22 89 million estimated by two analysts [4] Stock Performance - Shares of PCB Bancorp returned -6 2% over the past month, underperforming the Zacks S&P 500 composite's +1 2% change [3] - The stock currently has a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

分组1 - PCB Bancorp reported quarterly earnings of $0.46 per share, matching the Zacks Consensus Estimate, and an increase from $0.41 per share a year ago [1] - The company posted revenues of $26.21 million for the quarter, exceeding the Zacks Consensus Estimate by 1.28%, compared to $24.43 million in the same quarter last year [2] - Over the last four quarters, PCB Bancorp has surpassed consensus EPS estimates two times and topped revenue estimates once [2][3] 分组2 - The stock has underperformed, losing about 6.2% since the beginning of the year, while the S&P 500 gained 2.7% [3] - The current consensus EPS estimate for the upcoming quarter is $0.48 on revenues of $26.21 million, and for the current fiscal year, it is $1.99 on revenues of $109.49 million [7] - The Zacks Industry Rank for Banks - Southwest is in the top 4% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

Financial Performance - Net income available to common shareholders for Q4 2024 was $6.7 million, or $0.46 per diluted common share, a decrease of 10.5% from the previous quarter and an increase of 13.1% year-over-year[1]. - For the full year 2024, net income available to common shareholders was $25.0 million, or $1.74 per diluted common share, down 18.7% from $30.7 million in 2023[1]. - Total noninterest income for Q4 2024 was $3,043,000, an increase of 16.1% from Q3 2024 and 21.6% from Q4 2023[15]. - Gain on sale of loans reached $1,161,000 in Q4 2024, up 54.8% from Q3 2024 and 44.6% from Q4 2023[15]. - The company reported a net income of $7,030 thousand, reflecting a 10.0% decrease from the previous quarter but a 19.0% increase year-over-year[44]. - Return on average assets was reported at 0.94%, with a year-over-year increase from 0.89%[44]. - Return on average tangible common equity (TCE) for the year ended December 31, 2024, was 8.72%, compared to 11.31% for the previous year[53]. Credit Losses - Provision for credit losses increased to $2.0 million in Q4 2024 from $50 thousand in Q3 2024, and $1.7 million in Q4 2023[3]. - The provision for credit losses saw a significant increase to $2,002 thousand, a 3,904.0% rise compared to the previous quarter[44]. - The allowance for credit losses (ACL) on loans increased by 5.9% to $30.63 million as of December 31, 2024, compared to $28.93 million on September 30, 2024[28]. - Non-performing loans (NPLs) decreased by 29.0% to $4.69 million as of December 31, 2024, from $6.61 million on September 30, 2024[27]. Assets and Liabilities - Total assets reached $3.06 billion at December 31, 2024, reflecting a 6.0% increase from $2.89 billion at September 30, 2024, and a 9.8% increase from $2.79 billion at December 31, 2023[4]. - Total liabilities increased to $2,616,813 thousand, up from $2,509,331 thousand[46]. - Total funding increased to $2,548,818,000, a 4.3% increase from the previous quarter and a 13.3% increase year-over-year[7]. - Total assets grew to $2,877,886 as of December 31, 2024, compared to $2,549,759 at the end of 2023[49]. Loans and Deposits - Loans held-for-investment grew to $2.63 billion, up 6.6% from $2.47 billion at September 30, 2024, and up 13.2% from $2.32 billion at December 31, 2023[4]. - Total deposits increased to $2.62 billion, a rise of 6.3% from $2.46 billion at September 30, 2024, and an 11.2% increase from $2.35 billion at December 31, 2023[4]. - Retail time deposits increased by $94.7 million due to new accounts in the current quarter[31]. - Noninterest-bearing demand deposits decreased to 20.9% of total deposits as of December 31, 2024, down from 25.3% a year earlier[30]. Interest Income and Expenses - Net interest income for Q4 2024 was $23.2 million, a 2.0% increase from the previous quarter and a 5.7% increase year-over-year[4]. - Total interest income reached $46,319 thousand, reflecting a 4.9% increase from the prior quarter and a 13.1% increase year-over-year[44]. - The average yield on loans decreased to 6.63% for the current quarter, down from 6.82% in the previous quarter, primarily due to a decrease in market rates[9]. - The net interest margin for the current quarter was 3.18%, down from 3.25% in the previous quarter[7]. Operational Efficiency - The efficiency ratio improved to 53.02% in Q4 2024, down from 57.63% in Q3 2024 and 59.23% in Q4 2023[4]. - Total noninterest expense decreased to $13,894,000 in Q4 2024, down 4.8% from Q3 2024 and 4.0% from Q4 2023[16]. - Salaries and employee benefits for Q4 2024 were $8,417,000, a decrease of 4.4% from Q3 2024[16]. - Marketing and business promotion expenses decreased by 19.0% year-over-year to $1,886,000[16]. Shareholder Information - Shareholders' equity rose to $363.8 million, reflecting a 4.3% increase from $348.9 million at December 31, 2023[33]. - The company repurchased 14,947 shares of common stock in 2024 at a weighted-average price of $14.88, totaling $222 thousand[34]. - The company began paying quarterly dividends on Series C Preferred Stock at an annualized rate of 2% in Q2 2024, totaling $346 thousand for the current quarter[37]. - The company is authorized to purchase an additional 577,777 shares under its current stock repurchase program, which expires on August 2, 2025[34].