Don Rhee Buys 17,544 Shares of Pacific City Financial Corporation (NYSE:PCB) Stock

Pacific City Financial Corporation (NYSE:PCB) Director Don Rhee acquired 17,544 shares of the stock in a transaction dated Wednesday, June 5th. The shares were purchased at an average price of $17.02 per share, for a total transaction of $298,598.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of PCB stock traded up $0.07 during midday trading on Friday, hitting $17.04. 183,440 shares of the company were exchanged, compared to its average volume of 28,989. The firm has a 50 day moving average price of $17.04. Pacific City Financial Corporation has a 52 week low of $13.36 and a 52 week high of $20.95.

Pacific City Financial (NYSE:PCB) last announced its earnings results on Friday, April 26th. The company reported $0.40 EPS for the quarter, hitting the 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.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a $0.06 dividend. The ex-dividend date was Thursday, May 30th. This represents a $0.24 dividend on an annualized basis and a yield of 1.41%. This is an increase from Pacific City Financial’s previous quarterly dividend of $0.05.

Separately, Zacks Investment Research lowered shares of Pacific City Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Legal & General Group Plc bought a new stake in Pacific City Financial in the 3rd quarter valued at about $33,000. BNP Paribas Arbitrage SA boosted its holdings in Pacific City Financial by 686.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,508 shares of the company’s stock valued at $44,000 after purchasing an additional 2,189 shares during the period. New York State Common Retirement Fund bought a new stake in Pacific City Financial in the 4th quarter valued at about $72,000. Bank of America Corp DE boosted its holdings in Pacific City Financial by 217.0% in the 4th quarter. Bank of America Corp DE now owns 7,731 shares of the company’s stock valued at $122,000 after purchasing an additional 5,292 shares during the period. Finally, Bank of Montreal Can boosted its holdings in Pacific City Financial by 100.1% in the 4th quarter. Bank of Montreal Can now owns 8,388 shares of the company’s stock valued at $131,000 after purchasing an additional 4,197 shares during the period.

About Pacific City Financial

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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