Nuveen LLC Takes Position in PCB Bancorp $PCB

Nuveen LLC acquired a new stake in shares of PCB Bancorp (NASDAQ:PCB) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,311 shares of the company’s stock, valued at approximately $380,000. Nuveen LLC owned about 0.14% of PCB Bancorp at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PCB. Connor Clark & Lunn Investment Management Ltd. raised its stake in PCB Bancorp by 15.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,647 shares of the company’s stock worth $1,041,000 after buying an additional 7,486 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in PCB Bancorp by 3.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 30,252 shares of the company’s stock worth $566,000 after buying an additional 1,000 shares in the last quarter. Squarepoint Ops LLC raised its stake in PCB Bancorp by 42.4% in the fourth quarter. Squarepoint Ops LLC now owns 17,312 shares of the company’s stock worth $350,000 after buying an additional 5,155 shares in the last quarter. Millennium Management LLC bought a new position in PCB Bancorp in the fourth quarter worth about $484,000. Finally, Lazard Asset Management LLC bought a new position in PCB Bancorp in the fourth quarter worth about $186,000. 33.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods boosted their target price on shares of PCB Bancorp from $23.00 to $23.50 and gave the company a “market perform” rating in a report on Monday, July 28th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $22.25.

Insiders Place Their Bets

In related news, Director Sang Young Lee purchased 18,200 shares of the firm’s stock in a transaction on Tuesday, July 29th. The shares were acquired at an average price of $21.45 per share, for a total transaction of $390,390.00. Following the purchase, the director directly owned 1,569,210 shares in the company, valued at $33,659,554.50. This trade represents a 1.17% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Don Rhee bought 10,000 shares of the stock in a transaction dated Friday, August 1st. The shares were purchased at an average price of $20.13 per share, with a total value of $201,300.00. Following the completion of the transaction, the director directly owned 419,044 shares in the company, valued at approximately $8,435,355.72. The trade was a 2.44% increase in their position. The disclosure for this purchase can be found here. 25.86% of the stock is currently owned by insiders.

PCB Bancorp Trading Up 1.2%

NASDAQ:PCB opened at $21.98 on Friday. The company’s 50 day moving average price is $21.56 and its 200-day moving average price is $20.03. PCB Bancorp has a 52 week low of $16.00 and a 52 week high of $22.45. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.15. The stock has a market cap of $315.41 million, a price-to-earnings ratio of 10.32 and a beta of 0.62.

PCB Bancorp (NASDAQ:PCB) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. PCB Bancorp had a net margin of 15.82% and a return on equity of 10.58%. The firm had revenue of $29.29 million for the quarter, compared to analysts’ expectations of $28.63 million. On average, equities research analysts forecast that PCB Bancorp will post 2.04 earnings per share for the current fiscal year.

PCB Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Friday, August 8th. PCB Bancorp’s dividend payout ratio is currently 37.56%.

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.