Charles Schwab Investment Management Inc. Sells 1,589 Shares of PCB Bancorp (NASDAQ:PCB)

Charles Schwab Investment Management Inc. lowered its position in shares of PCB Bancorp (NASDAQ:PCB) by 5.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,252 shares of the company’s stock after selling 1,589 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in PCB Bancorp were worth $592,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in PCB Bancorp by 0.7% in the third quarter. Geode Capital Management LLC now owns 255,959 shares of the company’s stock valued at $4,810,000 after purchasing an additional 1,751 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of PCB Bancorp by 19.8% in the fourth quarter. Bank of New York Mellon Corp now owns 82,023 shares of the company’s stock valued at $1,660,000 after buying an additional 13,529 shares during the period. Empowered Funds LLC lifted its position in shares of PCB Bancorp by 4.8% during the 4th quarter. Empowered Funds LLC now owns 54,550 shares of the company’s stock valued at $1,104,000 after buying an additional 2,510 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of PCB Bancorp by 99.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 21,189 shares of the company’s stock worth $398,000 after acquiring an additional 10,571 shares during the period. Finally, Barclays PLC increased its holdings in 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 acquiring an additional 10,565 shares during the last quarter. Hedge funds and other institutional investors own 33.04% of the company’s stock.

Insider Transactions at PCB Bancorp

In related news, Director Sang Young Lee acquired 4,504 shares of PCB Bancorp stock in a transaction dated Thursday, February 13th. The shares were purchased at an average cost of $19.78 per share, with a total value of $89,089.12. Following the completion of the purchase, the director now owns 1,530,711 shares of the company’s stock, valued at $30,277,463.58. This represents a 0.30 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 25.01% of the company’s stock.

PCB Bancorp Stock Down 0.4 %

Shares of PCB opened at $18.71 on Tuesday. The business’s 50-day moving average price is $19.33 and its 200-day moving average price is $19.58. The stock has a market cap of $269.07 million, a PE ratio of 10.75 and a beta of 0.65. PCB Bancorp has a twelve month low of $14.50 and a twelve month high of $22.20.

PCB Bancorp (NASDAQ:PCB) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. PCB Bancorp had a return on equity of 9.02% and a net margin of 13.45%. Analysts expect that PCB Bancorp will post 2.04 earnings per share for the current fiscal year.

PCB Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were given a dividend of $0.20 per share. This is an increase from PCB Bancorp’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.80 dividend on an annualized basis and a yield of 4.28%. PCB Bancorp’s dividend payout ratio (DPR) is presently 45.98%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upped their price objective on shares of PCB Bancorp from $20.00 to $23.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

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.