PCB Bancorp (NASDAQ:PCB) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of PCB Bancorp (NASDAQ:PCB) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

PCB has been the topic of a number of other reports. Piper Sandler lifted their price objective on PCB Bancorp from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, October 27th. Keefe, Bruyette & Woods lifted their price target on PCB Bancorp from $23.50 to $25.00 and gave the stock a “market perform” rating in a research report on Monday, October 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of PCB Bancorp in a report on Tuesday. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $24.50.

PCB Bancorp Stock Performance

Shares of PCB Bancorp stock traded down $0.04 on Friday, reaching $21.68. The stock had a trading volume of 25,572 shares, compared to its average volume of 29,611. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.06. The business’s 50-day moving average price is $21.11 and its two-hundred day moving average price is $20.92. The stock has a market cap of $309.18 million, a P/E ratio of 9.07 and a beta of 0.60. PCB Bancorp has a fifty-two week low of $16.00 and a fifty-two week high of $22.45.

PCB Bancorp (NASDAQ:PCB) last posted its earnings results on Wednesday, May 24th. The company reported $0.85 earnings per share (EPS) for the quarter. The business had revenue of $24.15 million for the quarter. PCB Bancorp had a net margin of 17.08% and a return on equity of 11.70%. On average, sell-side analysts forecast that PCB Bancorp will post 2.04 EPS for the current year.

PCB Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 7th were paid a $0.20 dividend. The ex-dividend date was Friday, November 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.7%. PCB Bancorp’s dividend payout ratio is currently 33.47%.

Institutional Trading of PCB Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its position in PCB Bancorp by 4.9% in the second quarter. Rhumbline Advisers now owns 16,056 shares of the company’s stock worth $337,000 after purchasing an additional 750 shares in the last quarter. CWM LLC grew its stake in shares of PCB Bancorp by 61.5% in the 2nd quarter. CWM LLC now owns 2,046 shares of the company’s stock valued at $43,000 after purchasing an additional 779 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of PCB Bancorp by 28.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,033 shares of the company’s stock valued at $85,000 after purchasing an additional 882 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of PCB Bancorp by 88.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,916 shares of the company’s stock worth $40,000 after buying an additional 898 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of PCB Bancorp by 3.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 30,252 shares of the company’s stock worth $566,000 after buying an additional 1,000 shares during the period. Institutional investors own 33.04% of the company’s stock.

PCB Bancorp Company Profile

PCB Bancorp operates as the bank holding company for PCB Bank that provides various banking products and services to small to medium-sized businesses, individuals, and professionals in Southern California. The company offers demand, savings, money market, and time deposits, as well as certificates of deposit; and trade finance, remote deposit capture, courier deposit services, positive pay services, zero balance accounts, and sweep accounts.