PCB Bancorp (NASDAQ:PCB) Stock Price Up 1.7% – Here’s Why

Shares of PCB Bancorp (NASDAQ:PCB) rose 1.7% during mid-day trading on Monday . The stock traded as high as $22.24 and last traded at $21.95. Approximately 13,140 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 26,050 shares. The stock had previously closed at $21.58.

Wall Street Analysts Forecast Growth

PCB has been the subject of a number of recent research reports. Keefe, Bruyette & Woods increased their price objective on shares of PCB Bancorp from $23.50 to $25.00 and gave the stock a “market perform” rating in a research note on Monday, October 27th. Wall Street Zen raised PCB Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “buy (b)” rating on shares of PCB Bancorp in a research note on Monday, December 29th. Finally, Piper Sandler boosted their price target on PCB Bancorp from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, October 27th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $24.50.

PCB Bancorp Trading Up 1.7%

The firm has a market cap of $313.01 million, a price-to-earnings ratio of 9.18 and a beta of 0.54. The stock’s 50 day moving average is $22.01 and its 200 day moving average is $21.52.

PCB Bancorp (NASDAQ:PCB) last posted its quarterly earnings data on Wednesday, May 24th. The company reported $0.85 earnings per share (EPS) for the quarter. The firm had revenue of $24.15 million during the quarter. PCB Bancorp had a net margin of 17.08% and a return on equity of 11.56%. On average, equities research analysts predict that PCB Bancorp will post 2.04 EPS for the current year.

PCB Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 7th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Friday, November 7th. PCB Bancorp’s dividend payout ratio (DPR) is presently 33.47%.

Hedge Funds Weigh In On PCB Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCB. Public Employees Retirement System of Ohio acquired a new stake in PCB Bancorp in the second quarter valued at approximately $44,000. Goldman Sachs Group Inc. increased its holdings in shares of PCB Bancorp by 83.6% during the first quarter. Goldman Sachs Group Inc. now owns 194,598 shares of the company’s stock worth $3,641,000 after buying an additional 88,589 shares in the last quarter. Corton Capital Inc. bought a new position in shares of PCB Bancorp in the 2nd quarter valued at $317,000. American Century Companies Inc. lifted its stake in shares of PCB Bancorp by 30.7% in the 2nd quarter. American Century Companies Inc. now owns 124,063 shares of the company’s stock valued at $2,603,000 after acquiring an additional 29,140 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of PCB Bancorp during the 2nd quarter valued at $1,977,000. Institutional investors own 33.04% of the company’s stock.

About PCB Bancorp

PCB Bancorp is the bank holding company for Pacific City Bank, a California-chartered bank founded in 1999 and headquartered in Torrance, California. As the parent of an FDIC-insured institution, PCB Bancorp oversees a community-focused banking franchise that serves both retail customers and commercial enterprises. The company’s strategy emphasizes personalized service and deep market knowledge to meet the evolving needs of individuals, families and businesses in Southern California.

Through its subsidiary Pacific City Bank, PCB Bancorp offers a broad range of financial products and services, including deposit accounts, commercial real estate and construction lending, residential mortgages, trade finance, treasury management and wealth advisory solutions.