Millennium Management LLC Purchases Shares of 23,903 PCB Bancorp (NASDAQ:PCB)

Millennium Management LLC bought a new position in shares of PCB Bancorp (NASDAQ:PCB) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 23,903 shares of the company’s stock, valued at approximately $484,000. Millennium Management LLC owned 0.17% of PCB Bancorp at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PCB. Rhino Investment Partners Inc boosted its holdings in shares of PCB Bancorp by 50.9% during the fourth quarter. Rhino Investment Partners Inc now owns 609,931 shares of the company’s stock worth $12,345,000 after purchasing an additional 205,668 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of PCB Bancorp by 83.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 84,601 shares of the company’s stock worth $1,712,000 after purchasing an additional 38,371 shares during the period. Martingale Asset Management L P bought a new position in PCB Bancorp in the fourth quarter worth about $559,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in PCB Bancorp by 122.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,161 shares of the company’s stock worth $975,000 after buying an additional 26,509 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in PCB Bancorp by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 511,588 shares of the company’s stock worth $10,355,000 after buying an additional 23,925 shares in the last quarter. 33.04% of the stock is currently owned by hedge funds and other institutional investors.

PCB Bancorp Stock Up 1.1%

Shares of PCB opened at $19.38 on Monday. The company has a market capitalization of $278.82 million, a P/E ratio of 11.14 and a beta of 0.56. The firm has a 50 day moving average of $19.10 and a 200 day moving average of $19.58. PCB Bancorp has a twelve month low of $14.50 and a twelve month high of $22.20.

PCB Bancorp (NASDAQ:PCB) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.02. The company had revenue of $26.86 million during the quarter, compared to the consensus estimate of $26.40 million. PCB Bancorp had a net margin of 13.45% and a return on equity of 9.02%. On average, sell-side analysts expect that PCB Bancorp will post 2.04 EPS for the current year.

PCB Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend was Friday, May 9th. PCB Bancorp’s dividend payout ratio (DPR) is currently 41.24%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods increased their price target on shares of PCB Bancorp from $21.00 to $23.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 29th.

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.