PCB Bancorp (NASDAQ:PCB) Downgraded by Zacks Investment Research to Hold

PCB Bancorp (NASDAQ:PCBGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

According to Zacks, “PCB Bancorp is a bank holding company which, through its subsidiaries, offers savings accounts, debit and credit cards, personal and business loans, cash management, certificate of deposits, online banking, mortgages, wealth management and e-statements. PCB Bancorp, formerly known as Pacific City Financial Corp, is based in Los Angeles, United States. “

Separately, Raymond James downgraded PCB Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 6th.

Shares of NASDAQ PCB opened at $19.02 on Friday. The stock has a fifty day moving average price of $21.66 and a two-hundred day moving average price of $22.42. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.03 and a current ratio of 1.04. The firm has a market cap of $284.25 million, a P/E ratio of 6.94 and a beta of 0.77. PCB Bancorp has a 1 year low of $15.04 and a 1 year high of $26.04.

PCB Bancorp (NASDAQ:PCBGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.08. PCB Bancorp had a return on equity of 16.65% and a net margin of 40.19%. On average, research analysts predict that PCB Bancorp will post 2.55 earnings per share for the current fiscal year.

In other news, Director Sang Young Lee bought 2,868 shares of the business’s stock in a transaction dated Thursday, February 24th. The stock was bought at an average price of $22.87 per share, for a total transaction of $65,591.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Janice Chung acquired 8,700 shares of PCB Bancorp stock in a transaction on Tuesday, March 1st. The shares were purchased at an average cost of $22.70 per share, for a total transaction of $197,490.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 28,568 shares of company stock valued at $667,851. 24.05% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Morgan Stanley raised its holdings in PCB Bancorp by 1,074.2% in the 3rd quarter. Morgan Stanley now owns 401,990 shares of the company’s stock valued at $8,003,000 after acquiring an additional 367,755 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new position in PCB Bancorp in the third quarter valued at $4,609,000. LSV Asset Management lifted its holdings in PCB Bancorp by 59.4% in the first quarter. LSV Asset Management now owns 351,411 shares of the company’s stock valued at $8,065,000 after buying an additional 130,906 shares during the period. Wellington Management Group LLP increased its stake in PCB Bancorp by 79.8% in the first quarter. Wellington Management Group LLP now owns 178,200 shares of the company’s stock valued at $4,090,000 after purchasing an additional 79,100 shares in the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of PCB Bancorp by 282.7% in the 3rd quarter. Two Sigma Advisers LP now owns 102,828 shares of the company’s stock worth $2,047,000 after acquiring an additional 75,956 shares during the last quarter. Institutional investors own 37.85% of the company’s stock.

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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