PCB Bancorp (NASDAQ:PCB) Trading Up 1.7% – Here’s Why

PCB Bancorp (NASDAQ:PCB)’s stock price rose 1.7% on Monday . The company traded as high as $22.24 and last traded at $21.95. Approximately 13,140 shares were traded during trading, a decline of 50% from the average daily volume of 26,050 shares. The stock had previously closed at $21.58.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PCB shares. Wall Street Zen raised PCB Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of PCB Bancorp in a research note on Monday, December 29th. Piper Sandler boosted their price objective on shares of PCB Bancorp from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Monday, October 27th. Finally, Keefe, Bruyette & Woods boosted their price target on PCB Bancorp from $23.50 to $25.00 and gave the company a “market perform” rating in a research note on Monday, October 27th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $24.50.

PCB Bancorp Stock Up 1.7%

The business has a fifty day moving average of $22.01 and a 200 day moving average of $21.52. The firm has a market cap of $313.01 million, a P/E ratio of 9.18 and a beta of 0.54.

PCB Bancorp (NASDAQ:PCB) last issued its earnings results on Wednesday, May 24th. The company reported $0.85 earnings per share (EPS) for the quarter. The firm had revenue of $24.15 million for the quarter. PCB Bancorp had a return on equity of 11.56% and a net margin of 17.08%. On average, sell-side analysts expect that PCB Bancorp will post 2.04 EPS for the current fiscal year.

PCB Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 7th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Friday, November 7th. PCB Bancorp’s dividend payout ratio is presently 33.47%.

Institutional Trading of PCB Bancorp

A number of institutional investors have recently modified their holdings of PCB. Rhumbline Advisers grew its holdings in shares of PCB Bancorp by 4.9% during the second quarter. Rhumbline Advisers now owns 16,056 shares of the company’s stock worth $337,000 after buying an additional 750 shares in the last quarter. CWM LLC boosted its position in PCB Bancorp by 61.5% during the 2nd quarter. CWM LLC now owns 2,046 shares of the company’s stock worth $43,000 after acquiring an additional 779 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of PCB Bancorp by 28.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,033 shares of the company’s stock worth $85,000 after acquiring an additional 882 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of PCB Bancorp by 88.2% in the second quarter. Tower Research Capital LLC TRC now owns 1,916 shares of the company’s stock valued at $40,000 after purchasing an additional 898 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of PCB Bancorp by 60.2% in the third quarter. Russell Investments Group Ltd. now owns 2,852 shares of the company’s stock worth $60,000 after purchasing an additional 1,072 shares in the last quarter. 33.04% of the stock is currently owned by institutional investors.

About PCB Bancorp

PCB Bancorp is the bank holding company for Pacific City Bank, a California-chartered bank founded in 1999 and headquartered in Torrance, California. As the parent of an FDIC-insured institution, PCB Bancorp oversees a community-focused banking franchise that serves both retail customers and commercial enterprises. The company’s strategy emphasizes personalized service and deep market knowledge to meet the evolving needs of individuals, families and businesses in Southern California.

Through its subsidiary Pacific City Bank, PCB Bancorp offers a broad range of financial products and services, including deposit accounts, commercial real estate and construction lending, residential mortgages, trade finance, treasury management and wealth advisory solutions.