Connor Clark & Lunn Investment Management Ltd. Purchases New Holdings in PCB Bancorp $PCB

Connor Clark & Lunn Investment Management Ltd. acquired a new position in PCB Bancorp (NASDAQ:PCB) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 92,743 shares of the company’s stock, valued at approximately $2,631,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co raised its stake in PCB Bancorp by 45.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,447 shares of the company’s stock valued at $31,000 after purchasing an additional 453 shares during the period. Russell Investments Group Ltd. boosted its position in shares of PCB Bancorp by 3,769.6% in the second quarter. Russell Investments Group Ltd. now owns 1,780 shares of the company’s stock worth $37,000 after buying an additional 1,734 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of PCB Bancorp by 88.2% in the second quarter. Tower Research Capital LLC TRC now owns 1,916 shares of the company’s stock worth $40,000 after buying an additional 898 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of PCB Bancorp by 273.4% during the third quarter. BNP Paribas Financial Markets now owns 3,939 shares of the company’s stock valued at $83,000 after buying an additional 2,884 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of PCB Bancorp during the first quarter valued at $94,000. 33.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PCB shares. Weiss Ratings reissued a “buy (a-)” rating on shares of PCB Bancorp in a research report on Friday, August 7th. Keefe, Bruyette & Woods raised their price objective on PCB Bancorp from $29.00 to $29.50 and gave the stock a “market perform” rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, PCB Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.75.

PCB Bancorp Trading Down 0.1%

Shares of NASDAQ:PCB opened at $27.49 on Friday. The firm has a fifty day moving average of $28.31 and a two-hundred day moving average of $25.30. The firm has a market capitalization of $386.23 million, a P/E ratio of 9.51 and a beta of 0.49. PCB Bancorp has a 12-month low of $19.70 and a 12-month high of $30.83. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.27.

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

PCB Bancorp Announces Dividend

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

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.