PCB Bancorp (NASDAQ:PCB) Director Sang Young Lee Purchases 2,000 Shares

PCB Bancorp (NASDAQ:PCB) Director Sang Young Lee acquired 2,000 shares of PCB Bancorp stock in a transaction on Wednesday, March 4th. The shares were bought at an average price of $22.75 per share, for a total transaction of $45,500.00. Following the completion of the purchase, the director directly owned 1,592,961 shares in the company, valued at $36,239,862.75. The trade was a 0.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Sang Young Lee also recently made the following trade(s):

• On Tuesday, March 3rd, Sang Young Lee acquired 92 shares of PCB Bancorp stock. The shares were bought at an average price of $22.00 per share, with a total value of $2,024.00.
• On Friday, February 27th, Sang Young Lee bought 3,027 shares of PCB Bancorp stock. The stock was bought at an average cost of $22.43 per share, for a total transaction of $67,895.61.
• On Monday, February 23rd, Sang Young Lee acquired 5,000 shares of PCB Bancorp stock. The stock was purchased at an average price of $22.48 per share, for a total transaction of $112,400.00.

PCB Bancorp Trading Down 1.9%

PCB traded down $0.44 during trading hours on Thursday, hitting $22.31. The company’s stock had a trading volume of 14,425 shares, compared to its average volume of 22,293. The company has a 50-day simple moving average of $22.43 and a 200 day simple moving average of $21.88. The firm has a market capitalization of $318.14 million, a PE ratio of 8.68 and a beta of 0.56. PCB Bancorp has a fifty-two week low of $16.00 and a fifty-two week high of $24.20.

PCB Bancorp (NASDAQ:PCB) last issued its quarterly earnings results on Thursday, January 29th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.61 by $0.03. The firm had revenue of $29.17 million for the quarter, compared to analysts’ expectations of $29.33 million. PCB Bancorp had a net margin of 17.89% and a return on equity of 12.15%. Research analysts expect that PCB Bancorp will post 2.04 earnings per share for the current fiscal year.

PCB Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 13th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.9%. This is an increase from PCB Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, February 13th. PCB Bancorp’s payout ratio is presently 34.24%.

Institutional Investors Weigh In On PCB Bancorp

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in PCB Bancorp by 0.9% in the third quarter. Vanguard Group Inc. now owns 677,922 shares of the company’s stock worth $14,236,000 after purchasing an additional 6,214 shares in the last quarter. Dimensional Fund Advisors LP raised its position in PCB Bancorp by 3.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 589,218 shares of the company’s stock valued at $12,756,000 after acquiring an additional 21,948 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of PCB Bancorp by 4.2% in the 2nd quarter. Acadian Asset Management LLC now owns 282,766 shares of the company’s stock valued at $5,931,000 after purchasing an additional 11,491 shares in the last quarter. Geode Capital Management LLC lifted its holdings in PCB Bancorp by 1.4% during the second quarter. Geode Capital Management LLC now owns 267,917 shares of the company’s stock valued at $5,622,000 after purchasing an additional 3,577 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of 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 acquiring an additional 88,589 shares in the last quarter. 33.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of PCB Bancorp in a research note on Monday, December 29th. Zacks Research upgraded shares of PCB Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Finally, Wall Street Zen raised shares of PCB Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.50.

PCB Bancorp Company Profile

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.