Public Employees Retirement System of Ohio Takes $44,000 Position in PCB Bancorp $PCB

Public Employees Retirement System of Ohio purchased a new stake in shares of PCB Bancorp (NASDAQ:PCB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,099 shares of the company’s stock, valued at approximately $44,000.

Other large investors have also made changes to their positions in the company. Nuveen LLC acquired a new position in shares of PCB Bancorp during the first quarter valued at $380,000. Bank of America Corp DE lifted its stake in shares of PCB Bancorp by 40.3% during the fourth quarter. Bank of America Corp DE now owns 12,223 shares of the company’s stock valued at $247,000 after acquiring an additional 3,511 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of PCB Bancorp by 83.6% during the first quarter. Goldman Sachs Group Inc. now owns 194,598 shares of the company’s stock valued at $3,641,000 after acquiring an additional 88,589 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of PCB Bancorp by 3.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 30,252 shares of the company’s stock valued at $566,000 after acquiring an additional 1,000 shares during the period. Finally, Trexquant Investment LP acquired a new position in shares of PCB Bancorp during the first quarter valued at $201,000. Institutional investors and hedge funds own 33.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PCB shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of PCB Bancorp in a research note on Saturday, September 27th. Keefe, Bruyette & Woods upped their price objective on PCB Bancorp from $23.00 to $23.50 and gave the company a “market perform” rating in a report on Monday, July 28th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.25.

PCB Bancorp Stock Down 1.5%

Shares of PCB Bancorp stock opened at $20.44 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $293.31 million, a P/E ratio of 9.60 and a beta of 0.58. The business has a 50-day moving average of $21.39 and a two-hundred day moving average of $20.38. PCB Bancorp has a 1 year low of $16.00 and a 1 year high of $22.45.

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

PCB Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.80 annualized dividend and a yield of 3.9%. PCB Bancorp’s dividend payout ratio is 37.56%.

Insider Activity at PCB Bancorp

In related news, Director Sang Young Lee purchased 18,200 shares of PCB Bancorp stock in a transaction that occurred on Tuesday, July 29th. The stock was purchased 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 of the company’s stock, valued at approximately $33,659,554.50. This trade represents a 1.17% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Don Rhee purchased 10,000 shares of PCB Bancorp stock in a transaction that occurred on Friday, August 1st. The shares were bought 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 directly 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. Corporate insiders own 25.01% of the company’s stock.

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.