PCB Bancorp (NASDAQ:PCB) Short Interest Update

PCB Bancorp (NASDAQ:PCB) was the recipient of a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 51,000 shares, a decline of 16.5% from the December 31st total of 61,100 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average daily volume of 31,400 shares, the short-interest ratio is presently 1.6 days.

Insider Buying and Selling

In related news, Director Don Rhee bought 7,300 shares of the company’s stock in a transaction on Friday, November 29th. The shares were bought at an average price of $21.22 per share, with a total value of $154,906.00. Following the transaction, the director now owns 399,144 shares in the company, valued at approximately $8,469,835.68. This trade represents a 1.86 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sang Young Lee acquired 8,200 shares of the company’s stock in a transaction dated 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 completion of the acquisition, the director now directly owns 1,526,207 shares in the company, valued at approximately $32,752,402.22. The trade was a 0.54 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 31,374 shares of company stock valued at $660,622. Company insiders own 25.01% of the company’s stock.

Institutional Investors Weigh In On PCB Bancorp

A number of large investors have recently added to or reduced their stakes in the company. Diversify Advisory Services LLC bought a new stake in PCB Bancorp in the 4th quarter valued at about $214,000. Barclays PLC raised 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 worth $265,000 after purchasing an additional 10,565 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of PCB Bancorp by 99.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 21,189 shares of the company’s stock worth $398,000 after purchasing an additional 10,571 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of PCB Bancorp in the third quarter worth approximately $407,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of PCB Bancorp by 6.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 30,841 shares of the company’s stock worth $580,000 after acquiring an additional 1,814 shares in the last quarter. 33.04% of the stock is owned by institutional investors and hedge funds.

PCB Bancorp Stock Up 0.3 %

NASDAQ PCB traded up $0.06 during trading hours on Monday, hitting $19.35. 23,831 shares of the stock were exchanged, compared to its average volume of 20,578. The stock has a 50-day moving average of $20.22 and a 200 day moving average of $19.30. PCB Bancorp has a 12-month low of $14.50 and a 12-month high of $22.20. The company has a market cap of $276.07 million, a price-to-earnings ratio of 11.12 and a beta of 0.71.

PCB Bancorp (NASDAQ:PCB) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. PCB Bancorp had a net margin of 13.45% and a return on equity of 9.02%. On average, equities research analysts expect that PCB Bancorp will post 1.99 earnings per share for the current year.

PCB Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 14th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from PCB Bancorp’s previous quarterly dividend of $0.18. PCB Bancorp’s dividend payout ratio (DPR) is currently 45.98%.

Analyst Upgrades and Downgrades

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

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.