Insider Buying: PCB Bancorp (NASDAQ:PCB) Director Purchases 7,300 Shares of Stock

PCB Bancorp (NASDAQ:PCB) Director Don Rhee bought 7,300 shares of PCB Bancorp stock in a transaction dated Friday, November 29th. The shares were purchased at an average cost of $21.22 per share, for a total transaction of $154,906.00. Following the completion of the transaction, the director now owns 399,144 shares of the company’s stock, valued at approximately $8,469,835.68. This represents a 1.86 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

PCB Bancorp Price Performance

PCB opened at $21.85 on Thursday. The stock has a market capitalization of $311.80 million, a PE ratio of 12.90 and a beta of 0.70. PCB Bancorp has a 12-month low of $14.50 and a 12-month high of $21.91. The firm’s fifty day moving average price is $19.48 and its 200 day moving average price is $17.88.

PCB Bancorp (NASDAQ:PCB) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.07. PCB Bancorp had a net margin of 13.27% and a return on equity of 8.68%. The company had revenue of $48.62 million during the quarter, compared to analyst estimates of $25.50 million. On average, equities research analysts forecast that PCB Bancorp will post 1.74 earnings per share for the current fiscal year.

PCB Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend was Friday, November 8th. PCB Bancorp’s dividend payout ratio (DPR) is 42.60%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PCB shares. Piper Sandler upped their price target on shares of PCB Bancorp from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Keefe, Bruyette & Woods upped their price target on shares of PCB Bancorp from $20.00 to $23.00 and gave the company a “market perform” rating in a report on Wednesday.

Institutional Trading of PCB Bancorp

Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC lifted its stake in PCB Bancorp by 299.2% in the third quarter. Barclays PLC now owns 14,096 shares of the company’s stock valued at $265,000 after acquiring an additional 10,565 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in PCB Bancorp in the third quarter valued at approximately $407,000. Charles Schwab Investment Management Inc. lifted its stake in PCB Bancorp by 6.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 30,841 shares of the company’s stock valued at $580,000 after acquiring an additional 1,814 shares during the last quarter. Empowered Funds LLC lifted its stake in PCB Bancorp by 5.1% in the third quarter. Empowered Funds LLC now owns 52,040 shares of the company’s stock valued at $978,000 after acquiring an additional 2,546 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in PCB Bancorp by 24.2% in the second quarter. Renaissance Technologies LLC now owns 52,401 shares of the company’s stock valued at $853,000 after acquiring an additional 10,200 shares during the last quarter. 33.04% of the stock is currently owned by institutional investors and hedge funds.

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.