PCB Bancorp $PCB Holdings Lifted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its holdings in PCB Bancorp (NASDAQ:PCB) by 1,033.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,151 shares of the company’s stock after acquiring an additional 2,873 shares during the period. PNC Financial Services Group Inc.’s holdings in PCB Bancorp were worth $66,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PCB. CWM LLC grew its stake in PCB Bancorp by 61.5% during the 2nd quarter. CWM LLC now owns 2,046 shares of the company’s stock valued at $43,000 after acquiring an additional 779 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of PCB Bancorp by 3.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 30,252 shares of the company’s stock worth $566,000 after purchasing an additional 1,000 shares during the period. Public Employees Retirement System of Ohio purchased a new position in PCB Bancorp during the second quarter valued at approximately $44,000. Martingale Asset Management L P grew its position in PCB Bancorp by 12.1% during the first quarter. Martingale Asset Management L P now owns 30,975 shares of the company’s stock valued at $580,000 after purchasing an additional 3,340 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in PCB Bancorp by 7.2% in the 1st quarter. Empowered Funds LLC now owns 58,475 shares of the company’s stock valued at $1,094,000 after buying an additional 3,925 shares during the period. 33.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PCB. Piper Sandler lifted their target price on shares of PCB Bancorp from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, October 27th. Keefe, Bruyette & Woods lifted their price objective on PCB Bancorp from $23.50 to $25.00 and gave the company a “market perform” rating in a research report on Monday, October 27th. Wall Street Zen raised PCB Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of PCB Bancorp in a research note on Monday, November 24th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $24.50.

PCB Bancorp Price Performance

NASDAQ PCB opened at $21.83 on Tuesday. PCB Bancorp has a fifty-two week low of $16.00 and a fifty-two week high of $22.45. The stock’s 50-day moving average is $21.12 and its two-hundred day moving average is $21.05. The firm has a market cap of $311.32 million, a P/E ratio of 9.13 and a beta of 0.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.06 and a quick ratio of 1.06.

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

PCB Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors 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 yield of 3.7%. PCB Bancorp’s dividend payout ratio (DPR) is presently 33.47%.

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.