FCBP - First Choice Bancorp: Decent Dividend Yield With Positive Earnings Outlook

• The acceleration of the mass vaccination process in California will likely drive economic recovery and credit demand.
• The Paycheck Protection Program loans make up a sizable proportion of the loan portfolio. Therefore, the upcoming forgiveness will likely have a material impact on the total portfolio size.
• The allowances for loan losses appear quite high relative to loan impairments. As a result, the provision expense will likely decline this year.
• The year-end target price suggests a modest upside from the current market price. Additionally, FCBP is offering a decent dividend yield.

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