Connor Clark & Lunn Investment Management Ltd. Invests $2.63 Million in PCB Bancorp $PCB

Connor Clark & Lunn Investment Management Ltd. bought a new stake in PCB Bancorp (NASDAQ:PCB) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 92,743 shares of the company’s stock, valued at approximately $2,631,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.66% of PCB Bancorp at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Hillsdale Investment Management Inc. lifted its holdings in PCB Bancorp by 233.6% in the fourth quarter. Hillsdale Investment Management Inc. now owns 100,987 shares of the company’s stock worth $2,186,000 after purchasing an additional 70,717 shares during the period. GSA Capital Partners LLP acquired a new position in PCB Bancorp during the 2nd quarter valued at about $785,000. Dimensional Fund Advisors LP raised its position in shares of PCB Bancorp by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 610,543 shares of the company’s stock worth $13,731,000 after buying an additional 21,325 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of PCB Bancorp by 88.2% during 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, Bridgeway Capital Management LLC lifted its stake in shares of PCB Bancorp by 4.1% in the 2nd quarter. Bridgeway Capital Management LLC now owns 145,459 shares of the company’s stock worth $3,052,000 after acquiring an additional 5,784 shares during the period. 33.04% of the stock is owned by institutional investors.

PCB Bancorp Price Performance

Shares of NASDAQ PCB opened at $27.49 on Friday. PCB Bancorp has a twelve month low of $19.70 and a twelve month high of $30.83. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average of $28.31 and a two-hundred day moving average of $25.30. The company has a market capitalization of $386.23 million, a price-to-earnings ratio of 9.51 and a beta of 0.49.

PCB Bancorp (NASDAQ:PCB) last released its earnings results on Thursday, July 23rd. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The business had revenue of $30.70 million for the quarter, compared to the consensus estimate of $31.10 million. PCB Bancorp had a net margin of 19.65% and a return on equity of 12.91%. As a group, analysts expect that PCB Bancorp will post 2.94 earnings per share for the current fiscal year.

PCB Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 7th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Friday, August 7th. PCB Bancorp’s payout ratio is presently 30.45%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Weiss Ratings reiterated a “buy (a-)” rating on shares of PCB Bancorp in a research note on Friday, August 7th. Keefe, Bruyette & Woods increased their price target on PCB Bancorp from $29.00 to $29.50 and gave the company a “market perform” rating in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, PCB Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.75.

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.