PCB Bancorp (NASDAQ:PCB) Stock Rating Lowered by Wall Street Zen

PCB Bancorp (NASDAQ:PCB) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other research firms have also recently commented on PCB. Weiss Ratings reissued a “buy (b)” rating on shares of PCB Bancorp in a research note on Monday, December 29th. Zacks Research raised PCB Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, PCB Bancorp currently has an average rating of “Moderate Buy” and an average target price of $24.50.

PCB Bancorp Trading Down 0.4%

Shares of PCB Bancorp stock opened at $21.64 on Friday. The stock has a market capitalization of $307.94 million, a P/E ratio of 8.42 and a beta of 0.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.06. The stock’s 50-day simple moving average is $22.43 and its 200 day simple moving average is $21.87. PCB Bancorp has a 52-week low of $16.00 and a 52-week high of $24.20.

PCB Bancorp (NASDAQ:PCB) last posted its earnings results on Thursday, January 29th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.37. The firm had revenue of $29.17 million for the quarter, compared to the consensus estimate of $29.33 million. PCB Bancorp had a return on equity of 12.03% and a net margin of 17.89%. As a group, research analysts anticipate that PCB Bancorp will post 2.04 EPS for the current year.

Insider Activity

In other news, Director Sang Young Lee acquired 2,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was purchased at an average price of $22.75 per share, for a total transaction of $45,500.00. Following the completion of the transaction, the director directly owned 1,592,961 shares in the company, valued at approximately $36,239,862.75. This trade represents a 0.13% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 10,119 shares of company stock worth $227,820 in the last quarter. Company insiders own 25.86% of the company’s stock.

Institutional Investors Weigh In On PCB Bancorp

Several institutional investors have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co boosted its holdings in shares of PCB Bancorp by 45.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,447 shares of the company’s stock valued at $31,000 after purchasing an additional 453 shares during the period. Russell Investments Group Ltd. increased its position in shares of PCB Bancorp by 3,769.6% during the second quarter. Russell Investments Group Ltd. now owns 1,780 shares of the company’s stock worth $37,000 after purchasing an additional 1,734 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in 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 buying an additional 898 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of PCB Bancorp by 1,033.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,151 shares of the company’s stock valued at $66,000 after purchasing an additional 2,873 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of PCB Bancorp by 273.4% during the third quarter. BNP Paribas Financial Markets now owns 3,939 shares of the company’s stock worth $83,000 after buying an additional 2,884 shares during the period. Institutional investors own 33.04% of the company’s stock.

PCB Bancorp Company Profile

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.