Insider Buying: PCB Bancorp (NASDAQ:PCB) Director Purchases 7,300 Shares of Stock

PCB Bancorp (NASDAQ:PCB) Director Don Rhee acquired 7,300 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was acquired at an average price of $21.22 per share, with a total value of $154,906.00. Following the completion of the transaction, the director now directly owns 399,144 shares of the company’s stock, valued at approximately $8,469,835.68. This represents a 1.86 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

PCB Bancorp Trading Up 1.3 %

Shares of PCB Bancorp stock opened at $21.60 on Wednesday. PCB Bancorp has a twelve month low of $14.50 and a twelve month high of $21.71. The firm has a market capitalization of $308.23 million, a PE ratio of 12.78 and a beta of 0.70. The firm’s 50-day moving average price is $19.42 and its 200 day moving average price is $17.84.

PCB Bancorp (NASDAQ:PCB) last released its earnings results on Thursday, October 24th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.07. PCB Bancorp had a return on equity of 8.68% and a net margin of 13.27%. The business had revenue of $48.62 million for the quarter, compared to the consensus estimate of $25.50 million. On average, sell-side analysts predict that PCB Bancorp will post 1.74 EPS for the current fiscal year.

PCB Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date was Friday, November 8th. PCB Bancorp’s payout ratio is 42.60%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lifted their price target on shares of PCB Bancorp from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, October 28th.

Institutional Investors Weigh In On PCB Bancorp

A number of hedge funds have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of PCB Bancorp in the 3rd quarter worth $407,000. Bank of New York Mellon Corp grew its holdings in shares of PCB Bancorp by 5.9% in 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. Empowered Funds LLC grew its holdings in shares of PCB Bancorp by 5.1% in the third quarter. Empowered Funds LLC now owns 52,040 shares of the company’s stock valued at $978,000 after purchasing an additional 2,546 shares during the period. Vanguard Group Inc. increased its position 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 purchasing an additional 4,152 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake 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 purchasing an additional 10,200 shares during the period. 33.04% of the stock is currently owned by institutional investors and hedge funds.

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.