PCB Bancorp (NASDAQ:PCB) Upgraded at Zacks Research

Zacks Research upgraded shares of PCB Bancorp (NASDAQ:PCB) from a hold rating to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

A number of other equities research analysts also recently weighed in on the company. Wall Street Zen upgraded PCB Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Keefe, Bruyette & Woods boosted their price objective on PCB Bancorp from $23.50 to $25.00 and gave the stock a “market perform” rating in a research note on Monday, October 27th. Piper Sandler raised their target price on PCB Bancorp from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of PCB Bancorp in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

PCB Bancorp Stock Up 0.6%

Shares of PCB opened at $23.73 on Tuesday. The firm has a market capitalization of $338.41 million, a PE ratio of 9.23 and a beta of 0.58. The firm has a 50-day moving average price of $22.33 and a 200 day moving average price of $21.65. PCB Bancorp has a 52-week low of $16.00 and a 52-week high of $24.04.

PCB Bancorp (NASDAQ:PCB) last released its quarterly earnings results on Thursday, January 29th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The company had revenue of $29.17 million for the quarter, compared to the consensus estimate of $29.33 million. PCB Bancorp had a net margin of 17.89% and a return on equity of 12.15%. On average, equities analysts expect that PCB Bancorp will post 2.04 EPS for the current year.

PCB Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, February 13th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, February 13th. This is a positive change from PCB Bancorp’s previous quarterly dividend of $0.20. PCB Bancorp’s payout ratio is presently 34.24%.

Hedge Funds Weigh In On PCB Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Corton Capital Inc. acquired a new stake in PCB Bancorp during the 2nd quarter worth about $317,000. American Century Companies Inc. increased its position in shares of PCB Bancorp by 30.7% in the second quarter. American Century Companies Inc. now owns 124,063 shares of the company’s stock worth $2,603,000 after acquiring an additional 29,140 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of PCB Bancorp during the second quarter valued at approximately $1,977,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of PCB Bancorp by 19.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 66,194 shares of the company’s stock valued at $1,389,000 after acquiring an additional 10,547 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of PCB Bancorp in the 2nd quarter valued at approximately $554,000. Institutional investors and hedge funds own 33.04% of the company’s stock.

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.