Maltese Capital Management LLC Sells 19,364 Shares of PCB Bancorp $PCB

Maltese Capital Management LLC reduced its position in shares of PCB Bancorp (NASDAQ:PCB) by 16.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,363 shares of the company’s stock after selling 19,364 shares during the period. Maltese Capital Management LLC’s holdings in PCB Bancorp were worth $2,086,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CANADA LIFE ASSURANCE Co raised its position in shares of PCB Bancorp by 45.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,447 shares of the company’s stock worth $31,000 after acquiring an additional 453 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in PCB Bancorp by 3,769.6% in the second 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 stake in shares of PCB Bancorp by 88.2% in the second 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 raised its position in shares of PCB Bancorp by 273.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,939 shares of the company’s stock worth $83,000 after purchasing an additional 2,884 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in PCB Bancorp by 28.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,033 shares of the company’s stock worth $85,000 after purchasing an additional 882 shares in the last quarter. Institutional investors own 33.04% of the company’s stock.

PCB Bancorp Price Performance

Shares of NASDAQ:PCB opened at $26.15 on Tuesday. PCB Bancorp has a twelve month low of $19.44 and a twelve month high of $26.77. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.15. The company has a market cap of $372.11 million, a PE ratio of 9.41 and a beta of 0.53. The company’s 50 day moving average is $24.42 and its 200 day moving average is $23.10.

PCB Bancorp (NASDAQ:PCB) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.07. The business had revenue of $30.18 million during the quarter, compared to analysts’ expectations of $31.10 million. PCB Bancorp had a return on equity of 12.70% and a net margin of 19.03%. On average, sell-side analysts forecast that PCB Bancorp will post 2.95 EPS for the current year.

PCB Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.4%. PCB Bancorp’s payout ratio is currently 31.65%.

Analysts Set New Price Targets

A number of analysts have commented on PCB shares. Wall Street Zen lowered PCB Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Zacks Research lowered PCB Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Piper Sandler boosted their price target on shares of PCB Bancorp from $25.50 to $26.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Finally, Weiss Ratings raised shares of PCB Bancorp from a “buy (b)” rating to a “buy (a-)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.50.

PCB Bancorp 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.