Insider Buying: PCB Bancorp (NASDAQ:PCB) Director Buys 5,000 Shares of Stock

PCB Bancorp (NASDAQ:PCB) Director Sang Young Lee bought 5,000 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were acquired at an average cost of $22.48 per share, with a total value of $112,400.00. Following the completion of the transaction, the director owned 1,587,842 shares of the company’s stock, valued at $35,694,688.16. This represents a 0.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

PCB Bancorp Stock Down 0.5%

PCB stock traded down $0.11 during trading on Tuesday, reaching $22.00. The stock had a trading volume of 4,630 shares, compared to its average volume of 22,570. The company’s 50 day moving average is $22.51 and its two-hundred day moving average is $21.83. PCB Bancorp has a one year low of $16.00 and a one year high of $24.20. The company has a market capitalization of $313.72 million, a price-to-earnings ratio of 8.56 and a beta of 0.58.

PCB Bancorp (NASDAQ:PCB) last posted its quarterly earnings results on Thursday, January 29th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The company had revenue of $29.17 million for the quarter, compared to analysts’ expectations of $29.33 million. PCB Bancorp had a net margin of 17.89% and a return on equity of 12.15%. As a group, research analysts predict that PCB Bancorp will post 2.04 earnings per share for the current fiscal year.

PCB Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 13th were given a dividend of $0.22 per share. The ex-dividend date was Friday, February 13th. This is a positive change from PCB Bancorp’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 4.0%. PCB Bancorp’s dividend payout ratio (DPR) is 34.24%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co grew its stake 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 buying an additional 453 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of PCB Bancorp by 3,769.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,780 shares of the company’s stock worth $37,000 after purchasing an additional 1,734 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in 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 purchasing an additional 898 shares in the last quarter. CWM LLC increased 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 purchasing an additional 779 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of PCB Bancorp by 1,033.5% in the second quarter. PNC Financial Services Group Inc. now owns 3,151 shares of the company’s stock worth $66,000 after buying an additional 2,873 shares in the last quarter. 33.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PCB has been the topic of a number of analyst reports. Zacks Research raised PCB Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of PCB Bancorp in a research report on Monday, December 29th. Wall Street Zen raised shares of PCB Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Piper Sandler raised their target price on PCB Bancorp from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, October 27th. Finally, Keefe, Bruyette & Woods upped their price target 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. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $24.50.

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.