Keefe, Bruyette & Woods Issues Positive Forecast for PCB Bancorp (NASDAQ:PCB) Stock Price

PCB Bancorp (NASDAQ:PCB) had its target price lifted by investment analysts at Keefe, Bruyette & Woods from $29.00 to $29.50 in a research note issued on Monday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 6.04% from the company’s current price.

A number of other equities research analysts also recently commented on the company. Piper Sandler lifted their price objective on PCB Bancorp from $25.50 to $26.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Zacks Research downgraded PCB Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Finally, Weiss Ratings raised PCB Bancorp from a “buy (b)” rating to a “buy (a-)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, PCB Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $27.75.

PCB Bancorp Price Performance

PCB stock traded down $0.26 during trading on Monday, reaching $27.82. 11,993 shares of the company were exchanged, compared to its average volume of 28,427. The company has a market cap of $395.88 million, a P/E ratio of 9.63 and a beta of 0.50. PCB Bancorp has a 52-week low of $19.70 and a 52-week high of $30.83. The stock’s 50 day moving average price is $26.95 and its 200 day moving average price is $24.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.07.

PCB Bancorp (NASDAQ:PCB) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.03. The company had revenue of $30.70 million for the quarter, compared to the consensus estimate of $31.10 million. PCB Bancorp had a net margin of 19.65% and a return on equity of 13.01%. As a group, analysts predict that PCB Bancorp will post 2.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PCB Bancorp

Several hedge funds have recently modified their holdings of PCB. Vanguard Group Inc. lifted its position in PCB Bancorp by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 677,922 shares of the company’s stock worth $14,236,000 after acquiring an additional 6,214 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of PCB Bancorp by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 610,543 shares of the company’s stock worth $13,731,000 after purchasing an additional 21,325 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of PCB Bancorp by 1.4% in 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 during the period. Goldman Sachs Group Inc. grew its holdings in 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 purchasing an additional 88,589 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in PCB Bancorp by 5.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 154,411 shares of the company’s stock worth $3,343,000 after buying an additional 7,284 shares during the period. 33.04% of the stock is currently owned by hedge funds and other institutional investors.

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.