PCB Bancorp (NASDAQ:PCB) Price Target Raised to $23.00

PCB Bancorp (NASDAQ:PCB) had its price objective increased by Keefe, Bruyette & Woods from $21.00 to $23.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a market perform rating on the stock.

PCB Bancorp Price Performance

Shares of PCB stock opened at $19.51 on Tuesday. The company’s fifty day moving average price is $18.62 and its two-hundred day moving average price is $19.53. The firm has a market capitalization of $280.69 million, a P/E ratio of 11.21 and a beta of 0.47. PCB Bancorp has a 12 month low of $14.50 and a 12 month high of $22.20.

PCB Bancorp (NASDAQ:PCB) last released 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. PCB Bancorp had a return on equity of 9.02% and a net margin of 13.45%. The business had revenue of $26.86 million for the quarter, compared to analysts’ expectations of $26.40 million. On average, sell-side analysts anticipate that PCB Bancorp will post 2.04 EPS for the current year.

PCB Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.10%. PCB Bancorp’s dividend payout ratio (DPR) is presently 41.24%.

Insider Buying and Selling at PCB Bancorp

In other news, Director Sang Young Lee acquired 4,504 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $19.78 per share, for a total transaction of $89,089.12. Following the completion of the purchase, the director now directly owns 1,530,711 shares of the company’s stock, valued at $30,277,463.58. This represents a 0.30 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 25.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PCB. Rhino Investment Partners Inc lifted its stake in PCB Bancorp by 50.9% during the fourth quarter. Rhino Investment Partners Inc now owns 609,931 shares of the company’s stock worth $12,345,000 after purchasing an additional 205,668 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of PCB Bancorp by 4.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 511,588 shares of the company’s stock worth $10,355,000 after buying an additional 23,925 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of PCB Bancorp by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 255,959 shares of the company’s stock worth $4,810,000 after buying an additional 1,751 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of PCB Bancorp by 1.0% in 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 during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of PCB Bancorp by 83.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 84,601 shares of the company’s stock valued at $1,712,000 after buying an additional 38,371 shares during the last quarter. Institutional investors and hedge funds own 33.04% of the company’s stock.

About PCB Bancorp

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.