Insider Buying: PCB Bancorp (NASDAQ:PCB) Director Buys 1,000 Shares of Stock

PCB Bancorp (NASDAQ:PCB) Director Sang Young Lee bought 1,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was bought at an average price of $20.60 per share, for a total transaction of $20,600.00. Following the completion of the purchase, the director now directly owns 1,509,534 shares in the company, valued at approximately $31,096,400.40. This represents a 0.07 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Sang Young Lee also recently made the following trade(s):

• On Monday, November 18th, Sang Young Lee acquired 8,174 shares of PCB Bancorp stock. The stock was acquired at an average cost of $20.74 per share, with a total value of $169,528.76.

PCB Bancorp Stock Performance

Shares of NASDAQ PCB traded up $0.07 during midday trading on Monday, reaching $20.80. 46,736 shares of the stock were exchanged, compared to its average volume of 23,804. PCB Bancorp has a twelve month low of $14.50 and a twelve month high of $21.60. The stock has a market capitalization of $296.82 million, a P/E ratio of 12.31 and a beta of 0.67. The company has a 50 day simple moving average of $18.91 and a 200 day simple moving average of $17.44.

PCB Bancorp (NASDAQ:PCB) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. The firm had revenue of $48.62 million during the quarter, compared to analysts’ expectations of $25.50 million. PCB Bancorp had a net margin of 13.27% and a return on equity of 8.68%. On average, research analysts expect that PCB Bancorp will post 1.74 earnings per share for the current year.

PCB Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were paid a $0.18 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.72 annualized dividend and a dividend yield of 3.46%. PCB Bancorp’s dividend payout ratio (DPR) is 42.60%.

Analyst Upgrades and Downgrades

PCB has been the subject of several research analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of PCB Bancorp from $17.00 to $20.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Piper Sandler boosted their price objective on PCB Bancorp from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th.

Institutional Trading of PCB Bancorp

Hedge funds have recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in shares of PCB Bancorp by 299.2% in the 3rd quarter. Barclays PLC now owns 14,096 shares of the company’s stock valued at $265,000 after buying an additional 10,565 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 worth $366,000 after acquiring an additional 7,588 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in PCB Bancorp in the 3rd quarter valued at $407,000. Charles Schwab Investment Management Inc. raised its stake in shares of PCB Bancorp by 6.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 30,841 shares of the company’s stock worth $580,000 after buying an additional 1,814 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in PCB Bancorp by 24.2% during the second quarter. Renaissance Technologies LLC now owns 52,401 shares of the company’s stock worth $853,000 after buying an additional 10,200 shares in the last quarter. Institutional investors and hedge funds 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.