Ieq Capital LLC Takes Position in PCB Bancorp $PCB

Ieq Capital LLC purchased a new position in PCB Bancorp (NASDAQ:PCB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,945 shares of the company’s stock, valued at approximately $235,000. Ieq Capital LLC owned approximately 0.16% of PCB Bancorp at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. AQR Capital Management LLC purchased a new position in PCB Bancorp during the first quarter valued at approximately $220,000. Goldman Sachs Group Inc. lifted its stake 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 purchasing an additional 88,589 shares in the last quarter. Empowered Funds LLC lifted its stake in PCB Bancorp by 7.2% in the 1st quarter. Empowered Funds LLC now owns 58,475 shares of the company’s stock worth $1,094,000 after purchasing an additional 3,925 shares in the last quarter. Jane Street Group LLC bought a new position in PCB Bancorp in the 1st quarter valued at $272,000. Finally, Strs Ohio bought a new position in PCB Bancorp in the 1st quarter valued at $94,000. 33.04% of the stock is currently owned by institutional investors.

PCB Bancorp Price Performance

PCB stock opened at $27.49 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 1.07. PCB Bancorp has a one year low of $19.70 and a one year high of $30.83. The stock has a market cap of $386.23 million, a PE ratio of 9.51 and a beta of 0.49. The firm has a 50 day simple moving average of $28.31 and a two-hundred day simple moving average of $25.31.

PCB Bancorp (NASDAQ:PCB) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.03. The firm had revenue of $30.70 million for the quarter, compared to analysts’ expectations of $31.10 million. PCB Bancorp had a net margin of 19.65% and a return on equity of 12.91%. On average, analysts predict that PCB Bancorp will post 2.94 EPS for the current fiscal year.

PCB Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 7th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Friday, August 7th. PCB Bancorp’s dividend payout ratio is currently 30.45%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Weiss Ratings restated a “buy (a-)” rating on shares of PCB Bancorp in a research report on Friday, August 7th. Keefe, Bruyette & Woods upped their target price on PCB Bancorp from $29.00 to $29.50 and gave the stock a “market perform” rating in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to MarketBeat, PCB Bancorp has an average rating of “Moderate Buy” and an average price target of $27.75.

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.