Geode Capital Management LLC Grows Stock Holdings in PCB Bancorp (NASDAQ:PCB)

Geode Capital Management LLC grew its stake in PCB Bancorp (NASDAQ:PCB) by 0.7% in the third quarter, Holdings Channel.com reports. The firm owned 255,959 shares of the company’s stock after acquiring an additional 1,751 shares during the quarter. Geode Capital Management LLC’s holdings in PCB Bancorp were worth $4,810,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Barclays PLC grew its holdings in 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. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of PCB Bancorp during the 3rd quarter valued at about $407,000. Charles Schwab Investment Management Inc. grew its holdings 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 valued at $580,000 after purchasing an additional 1,814 shares during the period. Renaissance Technologies LLC increased its position 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 last quarter. Finally, Empowered Funds LLC boosted 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 purchasing an additional 2,546 shares during the last quarter. Institutional investors and hedge funds own 33.04% of the company’s stock.

PCB Bancorp Stock Up 1.5 %

PCB opened at $19.93 on Friday. The firm has a market cap of $284.34 million, a P/E ratio of 11.79 and a beta of 0.70. PCB Bancorp has a 52 week low of $14.50 and a 52 week high of $22.20. The business has a fifty day simple moving average of $20.64 and a 200-day simple moving average of $18.79.

PCB Bancorp (NASDAQ:PCB) last announced its earnings results on Thursday, October 24th. The company reported $0.52 earnings per share 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 net margin of 13.27% and a return on equity of 8.68%. Sell-side analysts expect that PCB Bancorp will post 1.74 earnings per share for the current year.

PCB Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were issued a $0.18 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.72 dividend on an annualized basis and a yield of 3.61%. PCB Bancorp’s dividend payout ratio (DPR) is presently 42.60%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, Director Sang Young Lee purchased 8,200 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average price of $21.46 per share, for a total transaction of $175,972.00. Following the completion of the purchase, the director now directly owns 1,526,207 shares of the company’s stock, valued at $32,752,402.22. The trade was a 0.54 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Henry Kim acquired 3,700 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was purchased at an average cost of $20.35 per share, for a total transaction of $75,295.00. Following the completion of the transaction, the chief executive officer now owns 24,713 shares in the company, valued at approximately $502,909.55. The trade was a 17.61 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 31,374 shares of company stock valued at $660,622 in the last three months. 25.01% of the stock is owned by corporate insiders.

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.