Company Overview - PCB Bancorp (PCB) is expected to report a year-over-year increase in earnings, with a projected EPS of $0.46, reflecting a +12.2% change, and revenues of $25.88 million, up 5.9% from the previous year [3][12] - The Most Accurate Estimate for PCB Bancorp is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +3.30%, indicating a bullish outlook from analysts [10][11] Earnings Expectations - The consensus EPS estimate for PCB Bancorp has been revised 1.06% higher in the last 30 days, suggesting a positive reassessment by analysts [4] - The stock's performance may be influenced by how actual results compare to these estimates, with potential for stock price movement based on earnings report outcomes [1][2] Earnings Surprise History - PCB Bancorp has a history of beating consensus EPS estimates, having surpassed expectations in two out of the last four quarters [13][12] - In the last reported quarter, PCB Bancorp delivered a surprise of +15.56%, with actual earnings of $0.52 compared to an expected $0.45 [12] Industry Comparison - In the Zacks Banks - Southwest industry, Texas Capital (TCBI) is expected to post earnings of $1.07 per share, indicating a year-over-year change of +64.6%, with revenues projected at $284.19 million, up 15.6% [17] - Texas Capital's consensus EPS estimate has been revised 1.3% lower, but a higher Most Accurate Estimate results in an Earnings ESP of +1.87%, suggesting a likely earnings beat [18]

Core Viewpoint - PCB Bancorp has consistently beaten earnings estimates and is well-positioned for future earnings surprises, with a recent average surprise of 12.91% over the last two quarters [1][4]. Earnings Performance - For the most recent quarter, PCB Bancorp reported earnings of $0.52 per share, exceeding the expected $0.45 per share, resulting in a surprise of 15.56% [2]. - In the previous quarter, the company reported $0.43 per share against an expectation of $0.39 per share, leading to a surprise of 10.26% [2]. Earnings Estimates - There has been a favorable change in earnings estimates for PCB Bancorp, with a positive Earnings ESP of +3.30%, indicating bullish sentiment among analysts regarding the company's earnings prospects [4][7]. - The combination of a positive Earnings ESP and a Zacks Rank of 3 (Hold) suggests a high likelihood of another earnings beat [7]. Predictive Metrics - Stocks with a positive Earnings ESP and a Zacks Rank of 3 or better have a nearly 70% chance of producing a positive surprise [5]. - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, with the Most Accurate Estimate reflecting the latest analyst revisions [6]. Investment Strategy - It is crucial for investors to check a company's Earnings ESP before quarterly releases to enhance the likelihood of successful investment decisions [9].

Core Insights - RS has launched DesignSpark PCB version 12, enhancing its commitment to its 1.4 million-member community by introducing new features for both free and paid subscription plans [2][3] - The software is supported by Infineon, Germany's largest semiconductor manufacturer, which signifies a strong endorsement of its capabilities [4][10] Company Overview - RS is a global product and service solutions provider for industrial customers, operating in 36 markets and stocking over 800,000 industrial products [5][6] - The company reported revenue of £2,942 million for the year ending March 31, 2024 [7] Product Features - DesignSpark PCB version 12 includes advanced functionalities such as pre-plot checks, new edit component options, angular precision settings, dual measurement units, and enhanced design rule checks [4][3] - The software aims to empower engineers with user-friendly technology, facilitating faster innovation and a more efficient design process [4][3] Community and Support - DesignSpark has been providing accessible, professional-grade PCB design tools since July 2010, becoming popular for its user-friendly interface and free layout design capabilities [3][9] - The platform promotes responsible engineering through initiatives like 'Mission Responsible', aiming to create positive engineering outcomes [9]

Core Viewpoint - PCB Bancorp (PCB) has been upgraded to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its earnings estimates, which significantly influence stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system tracks the Zacks Consensus Estimate, which reflects EPS estimates from sell-side analysts, and is a key factor in determining stock ratings [1][2]. - Changes in earnings estimates are strongly correlated with near-term stock price movements, as institutional investors use these estimates to assess fair value [4][5]. Recent Performance and Projections - PCB Bancorp is expected to earn $1.74 per share for the fiscal year ending December 2024, reflecting a year-over-year decline of 17.9% [8]. - Over the past three months, the Zacks Consensus Estimate for PCB Bancorp has increased by 4.5%, indicating a positive trend in earnings estimates [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [7]. - Only the top 5% of Zacks-covered stocks receive a 'Strong Buy' rating, highlighting their superior earnings estimate revision features [9][10]. Conclusion - The upgrade of PCB Bancorp to a Zacks Rank 1 positions it favorably for potential stock price increases in the near term due to improved earnings outlook [11].

Financial Performance - For the three months ended September 30, 2024, net income was $7.814 million, an increase from $7.023 million for the same period in 2023, representing a year-over-year growth of approximately 11.3%[130] - The annualized return on average shareholders' equity for the third quarter of 2024 was 8.70%, up from 8.12% in the same quarter of 2023[130] - The company’s net income available to common shareholders for the three months ended September 30, 2024, was $7.468 million, compared to $7.023 million in the same period of 2023, reflecting a year-over-year increase of approximately 6.4%[130] - Net income for the three months ended September 30, 2024, was $7,814, compared to $7,023 for the same period last year, reflecting an increase of 11.3%[132] - Earnings per common share (diluted) increased to $0.52 from $0.49, representing a growth of 6.1%[132] Asset Growth - Total assets as of September 30, 2024, were $2.889 billion, an increase from $2.568 billion as of September 30, 2023, reflecting a growth of approximately 12.5%[130] - Total assets increased to $2,889,833, up from $2,567,974, representing a growth of 12.5% year-over-year[132] - Total assets increased to $2.89 billion at September 30, 2024, up $100.3 million, or 3.6%, from $2.79 billion at December 31, 2023[136] - Total assets reached $2,843,389 thousand, up from $2,518,624 thousand year-over-year[140] Equity and Capital - The tangible common equity per common share increased to $20.55 as of September 30, 2024, compared to $19.05 as of September 30, 2023, indicating a growth of approximately 7.8%[130] - The company’s total shareholders' equity increased to $362.300 million as of September 30, 2024, from $341.852 million as of September 30, 2023, representing a growth of approximately 6%[130] - Shareholders' equity increased to $362.3 million, reflecting a rise of $13.4 million or 3.8% from $348.9 million[176] - Common tier 1 capital ratio to risk-weighted assets was 11.92% as of September 30, 2024, exceeding the minimum regulatory requirement of 4.5%[178] Deposits - Total deposits rose to $2,459,682, up from $2,192,129, reflecting an increase of 12.2% year-over-year[132] - As of September 30, 2024, total deposits increased to $2,459,682 thousand, up by $108,070 thousand or 4.6% from $2,351,612 thousand on December 31, 2023[173] - Total interest-bearing deposits rose to $1,919,614 thousand, an increase of $162,675 thousand or 9.3% from $1,756,939 thousand[173] - Retail money market accounts saw an increase of $72,816 thousand or 18.3%, growing from $397,531 thousand to $470,347 thousand[173] Credit Losses and Nonperforming Loans - The allowance for credit losses (ACL) is projected to increase by approximately $8.4 million under a more adverse downside scenario as of September 30, 2024[126] - Nonperforming loans increased to $6,614, compared to $3,730, indicating a rise of 77.5%[134] - The provision for credit losses was $50, a significant decrease from $751 in the previous year[132] - The total nonperforming loans rose to $6,614 thousand as of September 30, 2024, a 68.9% increase from $3,916 thousand at the end of 2023[171] - The provision for credit losses on loans was $193 thousand for the three months ended September 30, 2024, compared to $822 thousand in the same period last year[166] Interest Income and Expenses - Interest income rose to $45,998, up from $38,852, marking a 18.5% increase year-over-year[132] - Total interest income for the three months ended September 30, 2024, was $45,998 thousand, an increase of 18.4% compared to $38,852 thousand in 2023[143] - Interest expense on deposits rose by 40.6% to $23,057 thousand due to a 21.2% increase in average balance of interest-bearing deposits and a 68 basis point increase in average cost[145] - Net interest income was $22.7 million for Q3 2024, compared to $22.4 million in Q3 2023, with a net interest margin of 3.25% in Q3 2024, down from 3.57% in Q3 2023[136] Noninterest Income and Expenses - Total noninterest income increased by $118 thousand, or 4.7%, to $2,620 thousand in 2024 compared to $2,502 thousand in 2023[151] - Total noninterest expense increased by $395 thousand, or 2.8%, to $14,602 thousand in 2024 compared to $14,207 thousand in 2023[154] - Salaries and employee benefits increased by $229 thousand, or 2.7%, to $8,801 thousand in 2024 compared to $8,572 thousand in 2023[154] Economic Outlook - The projected national unemployment rate for year-end 2024 and 2025 increased to 4.4% from previous estimates of 4.0% and 4.2%, respectively, leading to higher probability of default rates[166] - The projected year-over-year change in real GDP for 2024 decreased to 2.0% from 2.1% in the previous forecast[166] Interest Rate Risk Management - Net interest income sensitivity shows an asset sensitive profile, with a projected increase of 5.7% under a +200 basis point rate change scenario[195] - Economic Value of Equity (EVE) sensitivity indicates a slight liability sensitive profile, reflecting a shift from non-maturity deposits to time deposits[195] - The Company has established broad policy limits regarding interest rate risk, monitored by the Board Asset Liability Committee (ALCO)[192] - Management utilizes a simulation model to measure interest rate risk exposure, reporting results to the Board ALCO at least quarterly[193]

Core Viewpoint - PCB Bancorp is identified as a potentially undervalued stock with strong value metrics and a favorable earnings outlook, making it an attractive option for value investors [4][8]. Valuation Metrics - PCB Bancorp has a P/E ratio of 10.83, significantly lower than the industry average of 14.39, indicating potential undervaluation [4]. - The P/B ratio for PCB is 0.95, compared to the industry's average P/B of 2.03, suggesting that PCB's market value is low relative to its book value [5]. - PCB's P/S ratio stands at 1.45, while the industry average is 2, reinforcing the notion of PCB being undervalued based on revenue [6]. - The P/CF ratio for PCB is 9.43, which is much lower than the industry's average of 18.60, indicating a strong cash flow outlook relative to its market value [7]. Investment Potential - The combination of PCB's strong value grades, low valuation ratios, and positive earnings outlook positions it as a compelling investment opportunity for value-focused investors [3][8].

For the quarter ended September 2024, PCB Bancorp (PCB) reported revenue of $25.34 million, up 1.6% over the same period last year. EPS came in at $0.52, compared to $0.49 in the year-ago quarter.The reported revenue represents a surprise of -0.63% over the Zacks Consensus Estimate of $25.5 million. With the consensus EPS estimate being $0.45, the EPS surprise was +15.56%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street e ...

PCB Bancorp (PCB) came out with quarterly earnings of $0.52 per share, beating the Zacks Consensus Estimate of $0.45 per share. This compares to earnings of $0.49 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 15.56%. A quarter ago, it was expected that this company would post earnings of $0.39 per share when it actually produced earnings of $0.43, delivering a surprise of 10.26%.Over the last four quarters, the company has s ...

Exhibit 99.1 PCB Bancorp Reports Earnings for Q3 2024 Los Angeles, California - October 24, 2024 - PCB Bancorp (the "Company") (NASDAQ: PCB), the holding company of PCB Bank (the "Bank"), today reported net income available to common shareholders of $7.5 million, or $0.52 per diluted common share, for the third quarter of 2024, compared with $6.1 million, or $0.43 per diluted common share, for the previous quarter and $7.0 million, or $0.49 per diluted common share, for the year-ago quarter. Q3 2024 Highlig ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks. Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use a variety of methods, including tried-and-true valuation met ...