Goldman Sachs Group Inc. Raises Stock Holdings in PCB Bancorp $PCB

Goldman Sachs Group Inc. grew its stake in PCB Bancorp (NASDAQ:PCB) by 83.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 194,598 shares of the company’s stock after acquiring an additional 88,589 shares during the quarter. Goldman Sachs Group Inc. owned about 1.36% of PCB Bancorp worth $3,641,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Strs Ohio purchased a new stake in shares of PCB Bancorp in the first quarter valued at $94,000. Jane Street Group LLC purchased a new position in PCB Bancorp during the first quarter worth about $272,000. Empowered Funds LLC lifted its position in PCB Bancorp by 7.2% during the first quarter. Empowered Funds LLC now owns 58,475 shares of the company’s stock worth $1,094,000 after buying an additional 3,925 shares during the period. AQR Capital Management LLC purchased a new position in PCB Bancorp during the first quarter worth about $220,000. Finally, Trexquant Investment LP purchased a new position in PCB Bancorp during the first quarter worth about $201,000. 33.04% of the stock is currently owned by hedge funds and other institutional investors.

PCB Bancorp Stock Performance

PCB Bancorp stock opened at $22.11 on Friday. The stock’s 50-day moving average is $21.51 and its 200-day moving average is $20.18. The company has a market cap of $317.28 million, a price-to-earnings ratio of 10.38 and a beta of 0.62. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.06 and a quick ratio of 1.06. PCB Bancorp has a 12 month low of $16.00 and a 12 month high of $22.45.

PCB Bancorp (NASDAQ:PCB) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The company had revenue of $29.29 million for the quarter, compared to the consensus estimate of $28.63 million. PCB Bancorp had a return on equity of 10.58% and a net margin of 15.82%. Equities analysts anticipate that PCB Bancorp will post 2.04 earnings per share for the current year.

PCB Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Friday, August 8th. PCB Bancorp’s dividend payout ratio (DPR) is 37.56%.

Insider Transactions at PCB Bancorp

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

Wall Street Analysts Forecast Growth

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

PCB Bancorp 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.