Trexquant Investment LP Makes New Investment in PCB Bancorp $PCB

Trexquant Investment LP bought a new stake in shares of PCB Bancorp (NASDAQ:PCB) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,748 shares of the company’s stock, valued at approximately $201,000. Trexquant Investment LP owned 0.07% of PCB Bancorp as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Millennium Management LLC bought a new position in PCB Bancorp in the 4th quarter worth approximately $484,000. BNP Paribas Financial Markets bought a new position in shares of PCB Bancorp during the 4th quarter valued at $285,000. Bank of America Corp DE grew its holdings in shares of PCB Bancorp by 40.3% during the 4th quarter. Bank of America Corp DE now owns 12,223 shares of the company’s stock valued at $247,000 after purchasing an additional 3,511 shares during the last quarter. Nuveen LLC bought a new position in shares of PCB Bancorp during the 1st quarter valued at $380,000. Finally, Squarepoint Ops LLC grew its holdings in PCB Bancorp by 42.4% in the 4th quarter. Squarepoint Ops LLC now owns 17,312 shares of the company’s stock worth $350,000 after acquiring an additional 5,155 shares during the last quarter. 33.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

PCB Bancorp Trading Down 0.8%

NASDAQ PCB opened at $21.43 on Thursday. The company’s 50-day moving average price is $21.58 and its 200-day moving average price is $20.09. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.15. The stock has a market cap of $307.52 million, a PE ratio of 10.06 and a beta of 0.62. PCB Bancorp has a 12 month low of $16.00 and a 12 month high of $22.45.

PCB Bancorp (NASDAQ:PCB) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.62 EPS for the quarter, topping 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. Equities research analysts forecast that PCB Bancorp will post 2.04 earnings per share for the current year.

PCB Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 8th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.7%. The ex-dividend date was Friday, August 8th. PCB Bancorp’s dividend payout ratio is presently 37.56%.

Insider Activity

In other news, Director Sang Young Lee purchased 18,200 shares of the firm’s stock in a transaction on Tuesday, July 29th. The stock was acquired at an average cost of $21.45 per share, with a total value of $390,390.00. Following the completion of the transaction, the director owned 1,569,210 shares in the company, valued at $33,659,554.50. This represents a 1.17% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Don Rhee purchased 10,000 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were purchased at an average cost of $20.13 per share, with a total value of $201,300.00. Following the completion of the transaction, the director owned 419,044 shares of the company’s stock, 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 owned by corporate insiders.

PCB Bancorp Company Profile

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.