Short Interest in PCB Bancorp (NASDAQ:PCB) Expands By 163.3%

PCB Bancorp (NASDAQ:PCB – Get Rating) saw a large increase in short interest in April. As of April 15th, there was short interest totalling 174,800 shares, an increase of 163.3% from the March 31st total of 66,400 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average daily volume of 66,000 shares, the short-interest ratio is presently 2.6 days.

PCB opened at $21.05 on Friday. The stock has a market capitalization of $314.59 million, a P/E ratio of 8.03 and a beta of 0.77. PCB Bancorp has a 12-month low of $15.04 and a 12-month high of $26.04. The stock has a 50-day moving average price of $22.33 and a 200-day moving average price of $22.43. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.04.

PCB Bancorp (NASDAQ:PCB – Get Rating) last announced its earnings results on Thursday, April 28th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.08. PCB Bancorp had a return on equity of 16.32% and a net margin of 40.14%. On average, equities research analysts predict that PCB Bancorp will post 2.48 EPS for the current year.

A number of equities research analysts have commented on the company. Raymond James cut PCB Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 6th. Zacks Investment Research upgraded PCB Bancorp from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Friday, April 8th.

In other news, Director Janice Chung bought 8,700 shares of the company’s stock in a transaction on Tuesday, March 1st. The stock was purchased at an average cost of $22.70 per share, for a total transaction of $197,490.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sang Young Lee acquired 2,531 shares of the stock in a transaction dated Tuesday, February 1st. The shares were bought at an average price of $22.38 per share, with a total value of $56,643.78. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 31,170 shares of company stock worth $726,255. Company insiders own 22.54% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Morgan Stanley grew its position in PCB Bancorp by 1,074.2% in the third quarter. Morgan Stanley now owns 401,990 shares of the company’s stock worth $8,003,000 after acquiring an additional 367,755 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of PCB Bancorp by 62.7% during the third quarter. Russell Investments Group Ltd. now owns 325,083 shares of the company’s stock valued at $6,470,000 after buying an additional 125,279 shares during the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in PCB Bancorp in the third quarter valued at $4,609,000. LSV Asset Management boosted its holdings in PCB Bancorp by 110.4% in the fourth quarter. LSV Asset Management now owns 220,505 shares of the company’s stock valued at $4,842,000 after purchasing an additional 115,705 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of PCB Bancorp by 8.8% during the 4th quarter. Acadian Asset Management LLC now owns 209,904 shares of the company’s stock valued at $4,608,000 after acquiring an additional 17,014 shares during the period. 38.17% of the stock is currently owned by institutional investors and hedge funds.

About PCB Bancorp (Get Rating)

PCB Bancorp operates as the bank holding company for Pacific City 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 remote deposit capture, courier deposit services, positive pay services, zero balance accounts, and sweep accounts.

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