PCB Bancorp (NASDAQ:PCB) Releases Quarterly Earnings Results, Meets Estimates

PCB Bancorp (NASDAQ:PCB) posted its earnings results on Thursday. The company reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46, Zacks reports. PCB Bancorp had a net margin of 13.27% and a return on equity of 8.68%.

PCB Bancorp Price Performance

Shares of NASDAQ:PCB traded up $0.07 during midday trading on Thursday, hitting $19.05. The company had a trading volume of 20,378 shares, compared to its average volume of 20,099. The company has a market cap of $271.79 million, a price-to-earnings ratio of 11.27 and a beta of 0.71. The company has a fifty day moving average of $20.30 and a two-hundred day moving average of $19.26. PCB Bancorp has a 12-month low of $14.50 and a 12-month high of $22.20.

Insiders Place Their Bets

In other PCB Bancorp news, Director Sang Young Lee purchased 8,200 shares of the company’s stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $21.46 per share, for a total transaction of $175,972.00. Following the purchase, the director now directly owns 1,526,207 shares of the company’s stock, valued at $32,752,402.22. This trade represents a 0.54 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Don Rhee acquired 7,300 shares of PCB Bancorp stock in a transaction dated Friday, November 29th. The shares were bought at an average price of $21.22 per share, for a total transaction of $154,906.00. Following the transaction, the director now owns 399,144 shares of the company’s stock, valued at approximately $8,469,835.68. The trade was a 1.86 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 31,374 shares of company stock worth $660,622 over the last quarter. 25.01% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on PCB. Piper Sandler raised their price objective on shares of PCB Bancorp from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Keefe, Bruyette & Woods lifted their price target on PCB Bancorp from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

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.