Piper Sandler Forecasts Strong Price Appreciation for PCB Bancorp (NASDAQ:PCB) Stock

PCB Bancorp (NASDAQ:PCB) had its price target increased by Piper Sandler from $20.00 to $21.00 in a research note released on Monday, Benzinga reports. They currently have a neutral rating on the stock.

Separately, Keefe, Bruyette & Woods increased their price target on PCB Bancorp from $17.00 to $20.00 and gave the company a “market perform” rating in a report on Monday, July 29th.

PCB Bancorp Trading Up 0.3 %

NASDAQ:PCB opened at $18.77 on Monday. The stock has a market cap of $267.55 million, a price-to-earnings ratio of 11.11 and a beta of 0.67. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average price is $18.52 and its 200-day moving average price is $16.98. PCB Bancorp has a 52 week low of $14.50 and a 52 week high of $20.22.

PCB Bancorp (NASDAQ:PCB) last issued its earnings results on Thursday, October 24th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.45 by $0.07. The business 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 8.77% and a net margin of 13.27%. On average, equities research analysts forecast that PCB Bancorp will post 1.65 earnings per share for the current fiscal year.

PCB Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Friday, November 8th. PCB Bancorp’s dividend payout ratio (DPR) is presently 42.60%.

Insider Activity at PCB Bancorp

In other news, Director Daniel Cho sold 25,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $18.47, for a total value of $461,750.00. Following the completion of the sale, the director now directly owns 98,000 shares in the company, valued at $1,810,060. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 25.01% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PCB Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PCB. O Shaughnessy Asset Management LLC increased its stake in PCB Bancorp by 51.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 22,391 shares of the company’s stock worth $366,000 after buying an additional 7,588 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of PCB Bancorp by 8.1% in the first quarter. Empowered Funds LLC now owns 46,074 shares of the company’s stock worth $752,000 after acquiring an additional 3,434 shares during the period. Renaissance Technologies LLC grew its position in shares of 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 in the last quarter. Bank of New York Mellon Corp raised its stake in PCB Bancorp by 5.9% during 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 purchasing an additional 4,242 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in PCB Bancorp by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 461,114 shares of the company’s stock worth $7,506,000 after purchasing an additional 26,859 shares in the last quarter. 33.04% of the stock is owned by hedge funds and other institutional investors.

About PCB Bancorp

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.