PCB Bancorp’s (PCB) “Buy (B-)” Rating Reaffirmed at Weiss Ratings

Weiss Ratings reiterated their buy (b-) rating on shares of PCB Bancorp (NASDAQ:PCB) in a research report released on Tuesday morning,Weiss Ratings reports.

Separately, Keefe, Bruyette & Woods lifted their price target on PCB Bancorp from $23.00 to $23.50 and gave the company a “market perform” rating in a research note on Monday, July 28th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $22.25.

PCB Bancorp Price Performance

Shares of PCB Bancorp stock opened at $20.64 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.15. PCB Bancorp has a twelve month low of $16.00 and a twelve month high of $22.45. The business has a 50-day moving average price of $21.35 and a 200 day moving average price of $20.42. The firm has a market cap of $296.18 million, a PE ratio of 9.69 and a beta of 0.58.

PCB Bancorp (NASDAQ:PCB) last announced its quarterly earnings results on Wednesday, May 24th. The company reported $0.85 earnings per share for the quarter. PCB Bancorp had a return on equity of 10.58% and a net margin of 15.82%.The firm had revenue of $24.15 million during the quarter. Sell-side analysts predict that PCB Bancorp will post 2.04 earnings per share for the current fiscal year.

PCB Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were issued a $0.20 dividend. The ex-dividend date was Friday, August 8th. This represents a $0.80 dividend on an annualized basis and a yield of 3.9%. PCB Bancorp’s dividend payout ratio is currently 37.56%.

Insider Buying and Selling

In other PCB Bancorp news, Director Sang Young Lee acquired 18,200 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were purchased at an average cost of $21.45 per share, for a total transaction of $390,390.00. Following the completion of the acquisition, the director owned 1,569,210 shares of the company’s stock, valued at approximately $33,659,554.50. The trade was a 1.17% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Don Rhee acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average price of $20.13 per share, for a total transaction of $201,300.00. Following the completion of the acquisition, the director directly owned 419,044 shares of the company’s stock, valued at $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.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC lifted its stake in PCB Bancorp by 46.7% during the second quarter. Squarepoint Ops LLC now owns 28,225 shares of the company’s stock worth $592,000 after purchasing an additional 8,987 shares in the last quarter. Thrivent Financial for Lutherans acquired a new position in PCB Bancorp during the second quarter worth $204,000. Tower Research Capital LLC TRC lifted its stake in PCB Bancorp by 88.2% during the second quarter. Tower Research Capital LLC TRC now owns 1,916 shares of the company’s stock worth $40,000 after purchasing an additional 898 shares in the last quarter. EJF Capital LLC acquired a new position in PCB Bancorp during the second quarter worth $839,000. Finally, Bridgeway Capital Management LLC lifted its stake in PCB Bancorp by 4.1% during the second quarter. Bridgeway Capital Management LLC now owns 145,459 shares of the company’s stock worth $3,052,000 after purchasing an additional 5,784 shares in the last quarter. 33.04% of the stock is currently owned by institutional investors and hedge funds.

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.