Pacific City Financial (NYSE:PCB) Given “Hold” Rating at Zacks Investment Research

Pacific City Financial (NYSE:PCB)‘s stock had its “hold” rating restated by Zacks Investment Research in a research note issued to investors on Saturday, Zacks.com reports.

According to Zacks, “Pacific City Financial Corporation is the parent company of Pacific City Bank a commercial bank. Pacific City Bank specializes in commercial banking for small to medium-size businesses by providing commercial real estate loans, small business loans and lines of credit, trade finance loans, auto loans, residential mortgage loans and SBA loans. It operates primarily in Lynwood and Bellevue, Washington; Denver, Colorado; Chicago, Illinois; Annandale, Virginia; Atlanta, Georgia; Orange County and Los Angeles, California; Bayside, New York and Carrollton, Texas. Pacific City Financial Corporation is headquartered in Los Angeles, California. “

Shares of NYSE:PCB opened at $17.04 on Friday. The company’s 50 day moving average is $17.04. Pacific City Financial has a 12-month low of $13.36 and a 12-month high of $20.95.

Pacific City Financial (NYSE:PCB) last announced its quarterly earnings data on Friday, April 26th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.40. The company had revenue of $19.56 million for the quarter, compared to the consensus estimate of $20.20 million.

In other Pacific City Financial news, insider John Ju sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $17.00, for a total value of $170,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Don Rhee acquired 17,544 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were purchased at an average cost of $17.02 per share, for a total transaction of $298,598.88. The disclosure for this purchase can be found here.

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its holdings in shares of Pacific City Financial by 686.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,508 shares of the company’s stock worth $44,000 after acquiring an additional 2,189 shares in the last quarter. New York State Common Retirement Fund purchased a new stake in shares of Pacific City Financial during the 4th quarter worth approximately $72,000. Bank of America Corp DE raised its holdings in shares of Pacific City Financial by 217.0% during the 4th quarter. Bank of America Corp DE now owns 7,731 shares of the company’s stock worth $122,000 after acquiring an additional 5,292 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Pacific City Financial during the 4th quarter worth approximately $207,000. Finally, Rhumbline Advisers purchased a new stake in shares of Pacific City Financial during the 4th quarter worth approximately $227,000.

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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