PCB Bancorp (NASDAQ:PCB) Upgraded by Zacks Research to “Strong-Buy” Rating

PCB Bancorp (NASDAQ:PCB) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

A number of other analysts have also recently commented on the company. Wall Street Zen raised PCB Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of PCB Bancorp in a research note on Monday, December 29th. Keefe, Bruyette & Woods boosted their target price on PCB Bancorp from $23.50 to $25.00 and gave the stock a “market perform” rating in a report on Monday, October 27th. Finally, Piper Sandler increased their target price on PCB Bancorp from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.50.

PCB Bancorp Price Performance

NASDAQ:PCB opened at $23.58 on Tuesday. The firm’s 50-day moving average price is $22.30 and its 200-day moving average price is $21.64. The company has a market capitalization of $336.25 million, a PE ratio of 9.18 and a beta of 0.58. PCB Bancorp has a 1-year low of $16.00 and a 1-year high of $24.04.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Segall Bryant & Hamill LLC bought a new position in shares of PCB Bancorp during the second quarter valued at $1,977,000. Goldman Sachs Group Inc. raised its position in PCB Bancorp by 83.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 194,598 shares of the company’s stock worth $3,641,000 after buying an additional 88,589 shares during the last quarter. EJF Capital LLC bought a new position in PCB Bancorp during the 2nd quarter valued at about $839,000. Marshall Wace LLP purchased a new stake in shares of PCB Bancorp during the 2nd quarter valued at about $837,000. Finally, American Century Companies Inc. boosted its holdings in shares of PCB Bancorp by 30.7% during the 2nd quarter. American Century Companies Inc. now owns 124,063 shares of the company’s stock valued at $2,603,000 after acquiring an additional 29,140 shares during the last quarter. Hedge funds and other institutional investors own 33.04% of the company’s stock.

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.