PCB Bancorp (NASDAQ:PCB) Stock Price Up 2% – Here’s Why

Shares of PCB Bancorp (NASDAQ:PCB) rose 2% on Monday . The company traded as high as $24.08 and last traded at $23.85. Approximately 33,933 shares changed hands during trading, an increase of 46% from the average daily volume of 23,300 shares. The stock had previously closed at $23.38.

Wall Street Analysts Forecast Growth

PCB has been the topic of a number of recent analyst reports. Zacks Research lowered PCB Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 2nd. Weiss Ratings raised PCB Bancorp from a “buy (b)” rating to a “buy (a-)” rating in a report on Monday, May 11th. Piper Sandler boosted 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. Finally, Wall Street Zen lowered PCB Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, PCB Bancorp presently has an average rating of “Moderate Buy” and an average target price of $25.50.

PCB Bancorp Trading Up 1.4%

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.07. The business has a fifty day simple moving average of $23.34 and a 200 day simple moving average of $22.65. The stock has a market capitalization of $346.79 million, a price-to-earnings ratio of 8.77 and a beta of 0.53.

PCB Bancorp (NASDAQ:PCB) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.07. PCB Bancorp had a return on equity of 12.70% and a net margin of 19.03%.The firm had revenue of $30.18 million for the quarter, compared to analyst estimates of $31.10 million. As a group, research analysts expect that PCB Bancorp will post 2.95 EPS for the current year.

PCB Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Friday, May 8th. PCB Bancorp’s dividend payout ratio is currently 31.65%.

Insider Buying and Selling

In other news, Director Sang Young Lee acquired 5,000 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were purchased at an average cost of $22.48 per share, with a total value of $112,400.00. Following the acquisition, the director directly owned 1,587,842 shares in the company, valued at $35,694,688.16. This represents a 0.32% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Over the last quarter, insiders acquired 10,119 shares of company stock valued at $227,820. Corporate insiders own 27.00% of the company’s stock.

Institutional Trading of PCB Bancorp

A number of institutional investors have recently modified their holdings of PCB. Goldman Sachs Group Inc. lifted its position in shares of PCB Bancorp by 83.6% during the 1st 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 during the period. Hillsdale Investment Management Inc. lifted its position in shares of PCB Bancorp by 233.6% during the 4th quarter. Hillsdale Investment Management Inc. now owns 100,987 shares of the company’s stock valued at $2,186,000 after acquiring an additional 70,717 shares during the period. Marshall Wace LLP bought a new stake in shares of PCB Bancorp during the 2nd quarter valued at $837,000. Dimensional Fund Advisors LP lifted its position in shares of PCB Bancorp by 3.9% during the 4th 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 during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of PCB Bancorp by 94.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 31,908 shares of the company’s stock valued at $670,000 after acquiring an additional 15,467 shares during the period. 33.04% of the stock is currently owned by institutional investors.

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.