PCB Bancorp (NASDAQ:PCB) Stock Price Down 0.3% – Here’s What Happened

PCB Bancorp (NASDAQ:PCB) was down 0.3% on Tuesday . The stock traded as low as $28.34 and last traded at $28.63. Approximately 28,973 shares were traded during trading, a decline of 27% from the average session volume of 39,949 shares. The stock had previously closed at $28.73.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PCB. Piper Sandler upped their target price on PCB Bancorp from $25.50 to $26.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Zacks Research lowered shares of PCB Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 2nd. Weiss Ratings upgraded shares of PCB Bancorp from a “buy (b)” rating to a “buy (a-)” rating in a research report on Monday, May 11th. Finally, Wall Street Zen lowered shares of PCB Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.50.

PCB Bancorp Price Performance

The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.15. The stock has a market cap of $407.40 million, a P/E ratio of 10.30 and a beta of 0.50. The business has a 50-day simple moving average of $25.65 and a 200 day simple moving average of $23.69.

PCB Bancorp (NASDAQ:PCB) last announced its earnings results on Thursday, April 23rd. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.67 by $0.07. The business had revenue of $30.18 million for the quarter, compared to analysts’ expectations of $31.10 million. PCB Bancorp had a return on equity of 12.70% and a net margin of 19.03%. On average, analysts forecast that PCB Bancorp will post 2.95 earnings per share for the current year.

PCB Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, May 8th. PCB Bancorp’s dividend payout ratio is currently 31.65%.

Hedge Funds Weigh In On PCB Bancorp

Hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC acquired a new position in PCB Bancorp in the first quarter valued at $275,000. Bank of America Corp DE lifted its stake in shares of PCB Bancorp by 5.7% in the 1st quarter. Bank of America Corp DE now owns 10,659 shares of the company’s stock valued at $240,000 after purchasing an additional 571 shares during the period. Empowered Funds LLC boosted its position in shares of PCB Bancorp by 2.5% during the 1st quarter. Empowered Funds LLC now owns 78,826 shares of the company’s stock valued at $1,773,000 after purchasing an additional 1,944 shares in the last quarter. Lazard Asset Management LLC grew its stake in PCB Bancorp by 155.0% during the first quarter. Lazard Asset Management LLC now owns 25,445 shares of the company’s stock worth $572,000 after purchasing an additional 15,465 shares during the period. Finally, Sei Investments Co. bought a new stake in PCB Bancorp in the first quarter worth approximately $247,000. 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.