PCB Bancorp (NASDAQ:PCB) Short Interest Down 19.1% in December

PCB Bancorp (NASDAQ:PCB) saw a significant decrease in short interest in the month of December. As of December 31st, there was short interest totaling 166,081 shares, a decrease of 19.1% from the December 15th total of 205,291 shares. Based on an average daily volume of 24,010 shares, the days-to-cover ratio is currently 6.9 days. Approximately 1.6% of the company’s stock are short sold. Approximately 1.6% of the company’s stock are short sold. Based on an average daily volume of 24,010 shares, the days-to-cover ratio is currently 6.9 days.

Institutional Trading of PCB Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the business. Segall Bryant & Hamill LLC purchased a new position in PCB Bancorp in the second quarter valued at about $1,977,000. Goldman Sachs Group Inc. lifted its stake in PCB Bancorp by 83.6% in the first quarter. Goldman Sachs Group Inc. now owns 194,598 shares of the company’s stock valued at $3,641,000 after purchasing an additional 88,589 shares during the last quarter. EJF Capital LLC purchased a new position in PCB Bancorp in the second quarter valued at approximately $839,000. Marshall Wace LLP bought a new position in PCB Bancorp during the second quarter valued at $837,000. Finally, American Century Companies Inc. increased its position in PCB Bancorp by 30.7% in the second quarter. American Century Companies Inc. now owns 124,063 shares of the company’s stock worth $2,603,000 after buying an additional 29,140 shares during the last quarter. 33.04% of the stock is owned by hedge funds and other institutional investors.

PCB Bancorp Price Performance

Shares of PCB stock opened at $21.68 on Wednesday. The firm has a 50-day moving average of $22.10 and a 200-day moving average of $21.58. The company has a market cap of $309.16 million, a P/E ratio of 9.07 and a beta of 0.54. PCB Bancorp has a one year low of $16.00 and a one year high of $24.04.

PCB Bancorp (NASDAQ:PCB) last released its quarterly earnings results on Thursday, October 23rd. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.17. The business had revenue of $30.39 million for the quarter, compared to analysts’ expectations of $30.45 million. PCB Bancorp had a net margin of 17.08% and a return on equity of 11.56%. As a group, research analysts expect that PCB Bancorp will post 2.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.