Pacific Ridge Capital Partners LLC Invests $2.63 Million in Pacific City Financial Corporation (PCB)

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Pacific Ridge Capital Partners LLC acquired a new stake in Pacific City Financial Corporation (NYSE:PCB) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 136,207 shares of the company’s stock, valued at approximately $2,634,000. Pacific Ridge Capital Partners LLC owned about 0.85% of Pacific City Financial as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Wells Fargo & Company MN purchased a new position in Pacific City Financial during the 3rd quarter worth approximately $114,000. American International Group Inc. purchased a new position in Pacific City Financial during the 3rd quarter worth approximately $152,000. Engineers Gate Manager LP purchased a new position in Pacific City Financial during the 3rd quarter worth approximately $277,000. Citadel Advisors LLC purchased a new position in Pacific City Financial during the 3rd quarter worth approximately $317,000. Finally, Bank of New York Mellon Corp purchased a new position in Pacific City Financial during the 3rd quarter worth approximately $489,000.

NYSE:PCB opened at $15.02 on Friday. Pacific City Financial Corporation has a 1-year low of $14.40 and a 1-year high of $20.95.

Pacific City Financial (NYSE:PCB) last posted its earnings results on Tuesday, October 23rd. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). The firm had revenue of $19.30 million for the quarter, compared to analysts’ expectations of $21.50 million.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Thursday, November 29th.

PCB has been the subject of a number of recent research reports. Keefe, Bruyette & Woods initiated coverage on shares of Pacific City Financial in a research report on Tuesday, September 4th. They set a “market perform” rating and a $22.00 price target for the company. Zacks Investment Research lowered shares of Pacific City Financial from a “hold” rating to a “sell” rating in a report on Wednesday, November 7th. Raymond James started coverage on shares of Pacific City Financial in a report on Tuesday, September 4th. They set an “outperform” rating and a $22.00 target price for the company. Finally, Sandler O’Neill started coverage on shares of Pacific City Financial in a report on Wednesday, September 5th. They set a “buy” rating and a $23.00 target price for the company.

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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.

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

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