PCB Bancorp (NASDAQ:PCB) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its position in PCB Bancorp (NASDAQ:PCB) by 6.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,841 shares of the company’s stock after buying an additional 1,814 shares during the period. Charles Schwab Investment Management Inc.’s holdings in PCB Bancorp were worth $580,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of PCB Bancorp by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 461,114 shares of the company’s stock worth $7,506,000 after acquiring an additional 26,859 shares during the period. Bank of New York Mellon Corp grew 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 valued at $1,236,000 after buying an additional 4,242 shares during the period. Renaissance Technologies LLC raised its position 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 valued at $853,000 after buying an additional 10,200 shares during the period. Empowered Funds LLC grew its position in PCB Bancorp by 5.1% in the third quarter. Empowered Funds LLC now owns 52,040 shares of the company’s stock worth $978,000 after acquiring an additional 2,546 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in PCB Bancorp during the third quarter worth $407,000. 33.04% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Henry Kim bought 3,700 shares of PCB Bancorp stock in a transaction that occurred on Wednesday, November 6th. The shares were purchased at an average price of $20.35 per share, for a total transaction of $75,295.00. Following the completion of the acquisition, the chief executive officer now owns 24,713 shares of the company’s stock, valued at $502,909.55. The trade was a 17.61 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sang Young Lee bought 8,200 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $21.46 per share, with a total value of $175,972.00. Following the transaction, the director now directly owns 1,526,207 shares of the company’s stock, valued at approximately $32,752,402.22. This trade represents a 0.54 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 31,374 shares of company stock worth $660,622. 25.01% of the stock is owned by insiders.

PCB Bancorp Stock Down 5.3 %

PCB stock opened at $20.29 on Thursday. The business has a 50 day moving average price of $20.21 and a 200 day moving average price of $18.35. The stock has a market cap of $289.48 million, a price-to-earnings ratio of 12.01 and a beta of 0.70. PCB Bancorp has a fifty-two week low of $14.50 and a fifty-two week high of $22.20.

PCB Bancorp (NASDAQ:PCB) last posted its earnings results on Thursday, October 24th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. The business had revenue of $48.62 million for the quarter, compared to analysts’ expectations of $25.50 million. PCB Bancorp had a return on equity of 8.68% and a net margin of 13.27%. As a group, sell-side analysts anticipate that PCB Bancorp will post 1.74 EPS for the current year.

PCB Bancorp Dividend Announcement

The company also recently disclosed 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 of this dividend was Friday, November 8th. This represents a $0.72 annualized dividend and a yield of 3.55%. PCB Bancorp’s dividend payout ratio is currently 42.60%.

Analyst Ratings Changes

Several research analysts have weighed in on PCB shares. Piper Sandler increased their target price 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. Keefe, Bruyette & Woods lifted their price objective on PCB Bancorp from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

PCB Bancorp 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.