PCB Bancorp (NASDAQ:PCB) Shares Down 1%

PCB Bancorp (NASDAQ:PCB) shares were down 1% during trading on Thursday . The stock traded as low as $18.27 and last traded at $18.42. Approximately 27,270 shares traded hands during mid-day trading, an increase of 28% from the average daily volume of 21,240 shares. The stock had previously closed at $18.60.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods boosted their price objective on PCB Bancorp from $17.00 to $20.00 and gave the company a “market perform” rating in a research note on Monday, July 29th.

PCB Bancorp Stock Down 1.1 %

The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a 50-day simple moving average of $17.80 and a two-hundred day simple moving average of $16.28. The firm has a market cap of $259.80 million, a PE ratio of 10.41 and a beta of 0.67.

PCB Bancorp (NASDAQ:PCB) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. PCB Bancorp had a net margin of 13.37% and a return on equity of 8.55%. The firm had revenue of $24.22 million for the quarter, compared to the consensus estimate of $25.10 million. Analysts expect that PCB Bancorp will post 1.66 earnings per share for the current year.

PCB Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 9th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Friday, August 9th. PCB Bancorp’s dividend payout ratio (DPR) is presently 41.14%.

Insider Activity at PCB Bancorp

In other news, Director Daniel Cho sold 25,000 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $18.47, for a total transaction of $461,750.00. Following the completion of the sale, the director now directly owns 98,000 shares in the company, valued at $1,810,060. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 25.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PCB Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its position in shares of PCB Bancorp by 24.2% during the second quarter. Renaissance Technologies LLC now owns 52,401 shares of the company’s stock valued at $853,000 after purchasing an additional 10,200 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of PCB Bancorp by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 461,114 shares of the company’s stock worth $7,506,000 after buying an additional 26,859 shares during the period. Bank of New York Mellon Corp increased its stake in shares of PCB Bancorp by 5.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 75,933 shares of the company’s stock worth $1,236,000 after acquiring an additional 4,242 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in PCB Bancorp by 51.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 22,391 shares of the company’s stock valued at $366,000 after acquiring an additional 7,588 shares during the period. Finally, Vanguard Group Inc. boosted its stake in PCB Bancorp by 0.6% during the first quarter. Vanguard Group Inc. now owns 656,732 shares of the company’s stock worth $10,724,000 after acquiring an additional 4,152 shares in the last quarter. Hedge funds and other institutional investors own 33.04% of the company’s stock.

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.