Keefe, Bruyette & Woods Issues Positive Forecast for PCB Bancorp (NASDAQ:PCB) Stock Price

PCB Bancorp (NASDAQ:PCB) had its price target increased by Keefe, Bruyette & Woods from $29.00 to $29.50 in a research note published on Monday morning,Benzinga reports. The firm currently has a market perform rating on the stock.

PCB has been the topic of a number of other reports. Zacks Research downgraded PCB Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 2nd. Weiss Ratings upgraded PCB Bancorp from a “buy (b)” rating to a “buy (a-)” rating in a research report on Monday, May 11th. Finally, Piper Sandler raised their target price on PCB Bancorp from $25.50 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, PCB Bancorp has an average rating of “Moderate Buy” and a consensus target price of $27.75.

PCB Bancorp Price Performance

Shares of PCB Bancorp stock opened at $27.99 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.07. The firm’s 50-day simple moving average is $27.03 and its 200-day simple moving average is $24.38. PCB Bancorp has a twelve month low of $19.70 and a twelve month high of $30.83. The firm has a market cap of $398.30 million, a P/E ratio of 9.69 and a beta of 0.50.

PCB Bancorp (NASDAQ:PCB) last posted its earnings results on Thursday, July 23rd. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. PCB Bancorp had a net margin of 19.65% and a return on equity of 13.01%. The business had revenue of $30.70 million for the quarter, compared to analysts’ expectations of $31.10 million. As a group, research analysts expect that PCB Bancorp will post 2.95 EPS for the current fiscal year.

PCB Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, August 7th will be given a $0.22 dividend. The ex-dividend date is Friday, August 7th. This represents a $0.88 dividend on an annualized basis and a yield of 3.1%. PCB Bancorp’s payout ratio is 30.45%.

Institutional Trading of PCB Bancorp

Several large investors have recently added to or reduced their stakes in PCB. CANADA LIFE ASSURANCE Co increased its holdings in shares of PCB Bancorp by 45.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,447 shares of the company’s stock worth $31,000 after buying an additional 453 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of PCB Bancorp by 3,769.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,780 shares of the company’s stock worth $37,000 after acquiring an additional 1,734 shares in the last quarter. Tower Research Capital LLC TRC grew its position in PCB Bancorp by 88.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,916 shares of the company’s stock worth $40,000 after acquiring an additional 898 shares during the last quarter. BNP Paribas Financial Markets grew its position in PCB Bancorp by 273.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,939 shares of the company’s stock worth $83,000 after acquiring an additional 2,884 shares during the last quarter. Finally, Strs Ohio acquired a new stake in PCB Bancorp during the 1st quarter valued at $94,000. 33.04% of the stock is 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.