PCB Bancorp (NASDAQ:PCB) Director Buys $112,400.00 in Stock

PCB Bancorp (NASDAQ:PCB) Director Sang Young Lee acquired 5,000 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was acquired at an average price of $22.48 per share, for a total transaction of $112,400.00. Following the transaction, the director directly owned 1,587,842 shares of the company’s stock, valued at $35,694,688.16. This represents a 0.32% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

PCB Bancorp Stock Performance

NASDAQ:PCB opened at $22.88 on Friday. PCB Bancorp has a 52-week low of $16.00 and a 52-week high of $24.20. The stock has a fifty day moving average of $22.44 and a 200 day moving average of $21.86. The firm has a market capitalization of $326.27 million, a price-to-earnings ratio of 8.90 and a beta of 0.58.

PCB Bancorp (NASDAQ:PCB) last issued its quarterly earnings results on Thursday, January 29th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The firm 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%. Equities analysts forecast that PCB Bancorp will post 2.04 earnings per share for the current fiscal year.

PCB Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 13th were paid a $0.22 dividend. This is an increase from PCB Bancorp’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Friday, February 13th. PCB Bancorp’s payout ratio is 34.24%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of PCB Bancorp in a report on Monday, December 29th. Wall Street Zen raised PCB Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Finally, Zacks Research upgraded PCB Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

Institutional Investors Weigh In On PCB Bancorp

A number of institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC purchased a new position in PCB Bancorp in the 1st quarter worth $220,000. Goldman Sachs Group Inc. grew its stake in shares of PCB Bancorp by 83.6% during the first quarter. Goldman Sachs Group Inc. now owns 194,598 shares of the company’s stock valued at $3,641,000 after buying an additional 88,589 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of PCB Bancorp by 7.2% in the first quarter. Empowered Funds LLC now owns 58,475 shares of the company’s stock worth $1,094,000 after buying an additional 3,925 shares during the period. Jane Street Group LLC purchased a new position in shares of PCB Bancorp in the first quarter worth about $272,000. Finally, Strs Ohio bought a new stake in shares of PCB Bancorp in the 1st quarter valued at about $94,000. 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 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.