PCB Bancorp (NASDAQ:PCB) Price Target Raised to $23.00 at Keefe, Bruyette & Woods

PCB Bancorp (NASDAQ:PCB) had its price objective increased by Keefe, Bruyette & Woods from $20.00 to $23.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

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

PCB Bancorp Price Performance

NASDAQ PCB opened at $21.85 on Wednesday. PCB Bancorp has a 1-year low of $14.50 and a 1-year high of $21.91. The stock has a market capitalization of $311.80 million, a price-to-earnings ratio of 12.90 and a beta of 0.70. The business’s fifty day moving average price is $19.48 and its 200-day moving average price is $17.88.

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

PCB Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.30%. The ex-dividend date was Friday, November 8th. PCB Bancorp’s dividend payout ratio is presently 42.60%.

Insiders Place Their Bets

In related news, CEO Henry Kim bought 3,700 shares of the stock in a transaction dated Wednesday, November 6th. The stock was purchased at an average cost of $20.35 per share, with a total value of $75,295.00. Following the completion of the purchase, the chief executive officer now owns 24,713 shares of the company’s stock, valued at $502,909.55. This trade represents a 17.61 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel Cho sold 25,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were 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 20.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought 31,374 shares of company stock valued at $660,622 over the last three months. 25.01% of the stock is owned by company insiders.

Institutional Trading of PCB Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC raised its holdings in PCB Bancorp by 299.2% in the third 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. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in PCB Bancorp in the 3rd quarter valued at $407,000. Charles Schwab Investment Management Inc. lifted its holdings in PCB Bancorp by 6.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 30,841 shares of the company’s stock valued at $580,000 after purchasing an additional 1,814 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of PCB Bancorp by 24.2% during the 2nd quarter. Renaissance Technologies LLC now owns 52,401 shares of the company’s stock worth $853,000 after acquiring an additional 10,200 shares during the period. Finally, Empowered Funds LLC raised its holdings in PCB Bancorp by 5.1% in the 3rd quarter. Empowered Funds LLC now owns 52,040 shares of the company’s stock valued at $978,000 after buying an additional 2,546 shares during the period. 33.04% of the stock is currently owned by 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.