PCB Bancorp (NASDAQ:PCB) Raised to Strong-Buy at Zacks Research

PCB Bancorp (NASDAQ:PCB) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday, Zacks reports.

Several other brokerages have also weighed in on PCB. Weiss Ratings reissued a “buy (a-)” rating on shares of PCB Bancorp in a report on Friday, August 7th. Keefe, Bruyette & Woods boosted their target price on PCB Bancorp from $29.00 to $29.50 and gave the company a “market perform” rating in a research note on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat, PCB Bancorp currently has an average rating of “Buy” and a consensus target price of $27.75.

PCB Bancorp Stock Up 2.3%

PCB Bancorp stock opened at $30.62 on Monday. The firm has a 50 day moving average price of $28.02 and a 200-day moving average price of $25.72. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. PCB Bancorp has a twelve month low of $20.87 and a twelve month high of $30.83. The company has a market capitalization of $430.21 million, a P/E ratio of 10.34 and a beta of 0.49.

PCB Bancorp (NASDAQ:PCB) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. The company had revenue of $32.39 million for the quarter, compared to analysts’ expectations of $31.93 million. PCB Bancorp had a net margin of 19.92% and a return on equity of 13.05%. As a group, equities analysts predict that PCB Bancorp will post 3.02 EPS for the current year.

Hedge Funds Weigh In On PCB Bancorp

Several large investors have recently modified their holdings of PCB. BlackRock Inc. bought a new stake in shares of PCB Bancorp in the second quarter valued at approximately $24,546,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of PCB Bancorp during the 2nd quarter valued at approximately $2,631,000. Empowered Funds LLC purchased a new stake in shares of PCB Bancorp during the 2nd quarter valued at approximately $2,282,000. Bank of New York Mellon Corp bought a new position in PCB Bancorp in the 2nd quarter worth approximately $1,713,000. Finally, GSA Capital Partners LLP bought a new position in PCB Bancorp in the 2nd quarter worth approximately $785,000. Hedge funds and other institutional investors own 33.04% of the company’s stock.

About PCB Bancorp

PCB Bancorp is the bank holding company for PCB Bank, a community bank headquartered in Los Angeles, California. The company provides banking services to individuals, businesses and organizations, with a particular focus on Korean American and other underserved small-business communities.

PCB Bank offers a range of deposit products, including checking, savings, money market and time deposit accounts. Its lending activities include commercial and industrial loans, commercial real estate loans, Small Business Administration loans, residential mortgage loans and consumer loans.