Insider Buying: PCB Bancorp (NASDAQ:PCB) Director Purchases $67,895.61 in Stock

PCB Bancorp (NASDAQ:PCB) Director Sang Young Lee purchased 3,027 shares of the stock in a transaction on Friday, February 27th. The stock was acquired at an average cost of $22.43 per share, with a total value of $67,895.61. Following the completion of the purchase, the director directly owned 1,590,869 shares of the company’s stock, valued at $35,683,191.67. The trade was a 0.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Sang Young Lee also recently made the following trade(s):

• On Wednesday, March 4th, Sang Young Lee purchased 2,000 shares of PCB Bancorp stock. The shares were bought at an average price of $22.75 per share, for a total transaction of $45,500.00.
• On Tuesday, March 3rd, Sang Young Lee bought 92 shares of PCB Bancorp stock. The stock was purchased at an average price of $22.00 per share, for a total transaction of $2,024.00.
• On Monday, February 23rd, Sang Young Lee purchased 5,000 shares of PCB Bancorp stock. The stock was purchased at an average cost of $22.48 per share, for a total transaction of $112,400.00.

PCB Bancorp Price Performance

Shares of NASDAQ:PCB opened at $22.75 on Thursday. PCB Bancorp has a 1 year low of $16.00 and a 1 year high of $24.20. The company has a market cap of $324.42 million, a PE ratio of 8.85 and a beta of 0.56. The stock’s 50-day moving average is $22.43 and its 200 day moving average is $21.88.

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

PCB Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 13th were issued a dividend of $0.22 per share. This is a positive change from PCB Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, February 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.9%. PCB Bancorp’s dividend payout ratio (DPR) is currently 34.24%.

Analysts Set New Price Targets

PCB has been the topic of several research reports. Wall Street Zen upgraded PCB Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “buy (b)” rating on shares of PCB Bancorp in a report on Monday, December 29th. Finally, Zacks Research raised shares of PCB Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.50.

Hedge Funds Weigh In On PCB Bancorp

Hedge funds have recently bought and sold shares of the company. Invesco Ltd. grew its stake in shares of PCB Bancorp by 11.8% in the fourth quarter. Invesco Ltd. now owns 12,304 shares of the company’s stock worth $266,000 after acquiring an additional 1,300 shares during the period. State of Tennessee Department of Treasury purchased a new stake in PCB Bancorp in the fourth quarter worth approximately $151,000. Empowered Funds LLC grew its position in PCB Bancorp by 11.4% in the 4th quarter. Empowered Funds LLC now owns 76,882 shares of the company’s stock worth $1,664,000 after purchasing an additional 7,855 shares during the period. Man Group plc purchased a new stake in PCB Bancorp during the 4th quarter valued at $260,000. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of PCB Bancorp by 5.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 154,411 shares of the company’s stock valued at $3,343,000 after buying an additional 7,284 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.