Millennium Management LLC Invests $484,000 in PCB Bancorp (NASDAQ:PCB)

Millennium Management LLC purchased a new position in shares of PCB Bancorp (NASDAQ:PCB) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 23,903 shares of the company’s stock, valued at approximately $484,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Lazard Asset Management LLC purchased a new position in shares of PCB Bancorp during the 4th quarter worth $186,000. Deutsche Bank AG boosted its stake in shares of PCB Bancorp by 39.5% during the 4th quarter. Deutsche Bank AG now owns 7,283 shares of the company’s stock worth $147,000 after acquiring an additional 2,063 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in shares of PCB Bancorp by 1.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 146,850 shares of the company’s stock valued at $2,972,000 after buying an additional 1,510 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of PCB Bancorp by 40.3% during the 4th quarter. Bank of America Corp DE now owns 12,223 shares of the company’s stock valued at $247,000 after buying an additional 3,511 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in shares of PCB Bancorp during the 4th quarter valued at $285,000. Hedge funds and other institutional investors own 33.04% of the company’s stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lifted their target price on shares of PCB Bancorp from $21.00 to $23.00 and gave the company a “market perform” rating in a research note on Tuesday, April 29th.

PCB Bancorp Stock Performance

PCB opened at $19.38 on Monday. PCB Bancorp has a fifty-two week low of $14.50 and a fifty-two week high of $22.20. The firm’s fifty day moving average is $19.10 and its 200 day moving average is $19.58. The stock has a market cap of $278.82 million, a price-to-earnings ratio of 11.14 and a beta of 0.56.

PCB Bancorp (NASDAQ:PCB) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.51 by $0.02. The business had revenue of $26.86 million for the quarter, compared to analysts’ expectations of $26.40 million. PCB Bancorp had a net margin of 13.45% and a return on equity of 9.02%. On average, equities research analysts predict that PCB Bancorp will post 2.04 earnings per share for the current year.

PCB Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend was Friday, May 9th. PCB Bancorp’s payout ratio is currently 41.24%.

PCB Bancorp Profile

PCB Bancorp operates as the bank holding company for PCB Bank that provides various banking products and services to small to medium-sized businesses, individuals, and professionals in Southern California. The company offers demand, savings, money market, and time deposits, as well as certificates of deposit; and trade finance, remote deposit capture, courier deposit services, positive pay services, zero balance accounts, and sweep accounts.