Systematic Financial Management LP cut its holdings in shares of Pacific City Financial Corporation (NYSE:PCB) by 56.3% in the 1st quarter, Holdings Channel reports. The firm owned 23,760 shares of the company’s stock after selling 30,645 shares during the period. Systematic Financial Management LP’s holdings in Pacific City Financial were worth $415,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Legal & General Group Plc acquired a new stake in shares of Pacific City Financial during the third quarter valued at approximately $33,000. BNP Paribas Arbitrage SA raised its holdings in shares of Pacific City Financial by 686.2% during the first quarter. BNP Paribas Arbitrage SA now owns 2,508 shares of the company’s stock valued at $44,000 after acquiring an additional 2,189 shares during the period. New York State Common Retirement Fund acquired a new stake in shares of Pacific City Financial during the fourth quarter valued at approximately $72,000. Wells Fargo & Company MN acquired a new stake in shares of Pacific City Financial during the third quarter valued at approximately $114,000. Finally, Bank of America Corp DE raised its holdings in shares of Pacific City Financial by 217.0% during the fourth quarter. Bank of America Corp DE now owns 7,731 shares of the company’s stock valued at $122,000 after acquiring an additional 5,292 shares during the period.
Separately, Zacks Investment Research upgraded shares of Pacific City Financial from a “sell” rating to a “hold” rating in a report on Tuesday.
Pacific City Financial (NYSE:PCB) last released its quarterly earnings data on Friday, April 26th. The company reported $0.40 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The company had revenue of $19.56 million during the quarter, compared to analyst estimates of $20.20 million.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.41%. The ex-dividend date is Thursday, May 30th. This is a positive change from Pacific City Financial’s previous quarterly dividend of $0.05.
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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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