Pacific City Financial Corporation (NYSE:PCB) Insider Justin Chon Sells 1,968 Shares

Pacific City Financial Corporation (NYSE:PCB) insider Justin Chon sold 1,968 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $17.12, for a total value of $33,692.16.

Shares of PCB stock traded down $0.40 during mid-day trading on Wednesday, hitting $16.15. The stock had a trading volume of 14,006 shares, compared to its average volume of 27,920. Pacific City Financial Corporation has a 12-month low of $13.36 and a 12-month high of $19.18. The firm’s 50-day moving average is $16.94 and its two-hundred day moving average is $16.76.

Pacific City Financial (NYSE:PCB) last issued its earnings results on Thursday, October 24th. The company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The firm had revenue of $20.33 million during the quarter, compared to analysts’ expectations of $20.70 million.

The company also recently announced a dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.08 dividend. The ex-dividend date is Wednesday, November 27th.

Separately, Zacks Investment Research upgraded Pacific City Financial from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th.

Hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. lifted its holdings in shares of Pacific City Financial by 128.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 2,077 shares of the company’s stock worth $34,000 after buying an additional 1,168 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Pacific City Financial by 64.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,274 shares of the company’s stock worth $72,000 after purchasing an additional 1,671 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Pacific City Financial by 9.5% during the 3rd quarter. Rhumbline Advisers now owns 18,539 shares of the company’s stock worth $305,000 after purchasing an additional 1,610 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Pacific City Financial by 241.4% during the 2nd quarter. Wells Fargo & Company MN now owns 20,752 shares of the company’s stock worth $353,000 after purchasing an additional 14,673 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Pacific City Financial by 5.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 26,244 shares of the company’s stock worth $448,000 after purchasing an additional 1,426 shares during the last quarter.

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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