PCB Bancorp (NASDAQ:PCB) Price Target Raised to $23.50

PCB Bancorp (NASDAQ:PCB) had its target price lifted by Keefe, Bruyette & Woods from $23.00 to $23.50 in a research note published on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

PCB Bancorp Stock Performance

PCB opened at $20.88 on Monday. PCB Bancorp has a 12-month low of $16.00 and a 12-month high of $22.37. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $298.79 million, a PE ratio of 9.80 and a beta of 0.57. The firm has a 50 day moving average of $20.65 and a two-hundred day moving average of $19.69.

PCB Bancorp (NASDAQ:PCB) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. PCB Bancorp had a net margin of 15.82% and a return on equity of 10.67%. The company had revenue of $29.29 million during the quarter, compared to analyst estimates of $28.63 million. On average, analysts anticipate that PCB Bancorp will post 2.04 EPS for the current year.

PCB Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 8th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date is Friday, August 8th. PCB Bancorp’s dividend payout ratio is presently 37.56%.

Insider Transactions at PCB Bancorp

In other PCB Bancorp news, Director Sang Young Lee purchased 18,200 shares of PCB Bancorp stock in a transaction on Tuesday, July 29th. The stock was bought at an average cost of $21.45 per share, with a total value of $390,390.00. Following the transaction, the director owned 1,569,210 shares of the company’s stock, valued at $33,659,554.50. This represents a 1.17% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 25.86% of the company’s stock.

Hedge Funds Weigh In On PCB Bancorp

A number of institutional investors have recently bought and sold shares of PCB. Rhino Investment Partners Inc grew its stake in shares of PCB Bancorp by 50.9% during the 4th quarter. Rhino Investment Partners Inc now owns 609,931 shares of the company’s stock worth $12,345,000 after purchasing an additional 205,668 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of PCB Bancorp by 4.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 511,588 shares of the company’s stock worth $10,355,000 after purchasing an additional 23,925 shares during the period. Goldman Sachs Group Inc. grew its stake 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 worth $3,641,000 after purchasing an additional 88,589 shares during the period. Bridgeway Capital Management LLC grew its stake in shares of PCB Bancorp by 1.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 146,850 shares of the company’s stock worth $2,972,000 after purchasing an additional 1,510 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of PCB Bancorp by 83.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 84,601 shares of the company’s stock worth $1,712,000 after purchasing an additional 38,371 shares during the period. 33.04% of the stock is owned by hedge funds and other institutional investors.

About PCB Bancorp

PCB Bancorp operates as the bank holding company for PCB Bank that provides various banking products and services to small to medium-sized businesses, individuals, and professionals in Southern California. The company offers demand, savings, money market, and time deposits, as well as certificates of deposit; and trade finance, remote deposit capture, courier deposit services, positive pay services, zero balance accounts, and sweep accounts.