PCB Bancorp (NASDAQ:PCB) Price Target Raised to $21.00

PCB Bancorp (NASDAQ:PCB) had its price objective increased by Piper Sandler from $20.00 to $21.00 in a report published on Monday, Benzinga reports. The firm currently has a neutral rating on the stock.

Separately, Keefe, Bruyette & Woods upped their target price on shares of PCB Bancorp from $17.00 to $20.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th.

PCB Bancorp Price Performance

Shares of PCB Bancorp stock opened at $19.00 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. PCB Bancorp has a 52 week low of $14.50 and a 52 week high of $20.22. The stock’s 50-day simple moving average is $18.49 and its 200-day simple moving average is $16.93. The company has a market capitalization of $270.75 million, a price-to-earnings ratio of 11.24 and a beta of 0.67.

PCB Bancorp (NASDAQ:PCB) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.07. PCB Bancorp had a return on equity of 8.77% and a net margin of 13.27%. The business had revenue of $48.62 million during the quarter, compared to the consensus estimate of $25.50 million. As a group, analysts expect that PCB Bancorp will post 1.65 earnings per share for the current fiscal year.

PCB Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.79%. PCB Bancorp’s dividend payout ratio is currently 42.60%.

Insider Buying and Selling at PCB Bancorp

In other news, Director Daniel Cho sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $18.47, for a total transaction of $461,750.00. Following the sale, the director now directly owns 98,000 shares of the company’s stock, valued at $1,810,060. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 25.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PCB Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Empowered Funds LLC lifted its holdings in shares of PCB Bancorp by 8.1% in the 1st quarter. Empowered Funds LLC now owns 46,074 shares of the company’s stock valued at $752,000 after acquiring an additional 3,434 shares during the last quarter. Bank of New York Mellon Corp raised its position in PCB Bancorp by 5.9% during the second quarter. Bank of New York Mellon Corp now owns 75,933 shares of the company’s stock valued at $1,236,000 after purchasing an additional 4,242 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of PCB Bancorp by 51.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 22,391 shares of the company’s stock valued at $366,000 after purchasing an additional 7,588 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of PCB Bancorp by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 656,732 shares of the company’s stock worth $10,724,000 after purchasing an additional 4,152 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of PCB Bancorp by 24.2% in the 2nd quarter. Renaissance Technologies LLC now owns 52,401 shares of the company’s stock worth $853,000 after purchasing an additional 10,200 shares during the period. 33.04% of the stock is owned by hedge funds and other institutional investors.

PCB Bancorp Company Profile

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.