PCB Bancorp (NASDAQ:PCB) Short Interest Down 21.4% in January

PCB Bancorp (NASDAQ:PCB) saw a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 40,100 shares, a decline of 21.4% from the January 15th total of 51,000 shares. Based on an average daily trading volume, of 32,600 shares, the short-interest ratio is currently 1.2 days. Currently, 0.4% of the company’s stock are short sold.

PCB Bancorp Stock Up 1.5 %

Shares of PCB stock opened at $20.34 on Friday. The stock has a market capitalization of $290.25 million, a PE ratio of 11.69 and a beta of 0.70. PCB Bancorp has a 52-week low of $14.50 and a 52-week high of $22.20. The stock’s 50-day moving average price is $20.01 and its 200 day moving average price is $19.40.

PCB Bancorp (NASDAQ:PCB) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. PCB Bancorp had a return on equity of 9.02% and a net margin of 13.45%. Analysts expect that PCB Bancorp will post 2.04 earnings per share for the current fiscal year.

PCB Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 14th will be given a dividend of $0.20 per share. This is a boost from PCB Bancorp’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, February 14th. This represents a $0.80 annualized dividend and a yield of 3.93%. PCB Bancorp’s payout ratio is presently 41.38%.

Analysts Set New Price Targets

A number of research firms have recently commented on PCB. Keefe, Bruyette & Woods lifted their target price on PCB Bancorp from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler lifted their target price on PCB Bancorp from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th.

Insiders Place Their Bets

In other PCB Bancorp news, Director Sang Young Lee purchased 4,504 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was bought at an average cost of $19.78 per share, with a total value of $89,089.12. Following the acquisition, the director now directly owns 1,530,711 shares of the company’s stock, valued at approximately $30,277,463.58. This represents a 0.30 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Don Rhee bought 7,300 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were purchased at an average price of $21.22 per share, for a total transaction of $154,906.00. Following the transaction, the director now directly 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 disclosure for this purchase can be found here. Insiders acquired 31,178 shares of company stock valued at $653,816 in the last ninety days. Insiders own 25.01% of the company’s stock.

Hedge Funds Weigh In On PCB Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCB. Empowered Funds LLC increased its position in PCB Bancorp by 5.1% during the 3rd quarter. Empowered Funds LLC now owns 52,040 shares of the company’s stock worth $978,000 after purchasing an additional 2,546 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in PCB Bancorp during the 3rd quarter worth approximately $407,000. Charles Schwab Investment Management Inc. increased its position in PCB Bancorp by 6.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 30,841 shares of the company’s stock worth $580,000 after purchasing an additional 1,814 shares during the period. Barclays PLC increased its position in PCB Bancorp by 299.2% during the 3rd quarter. Barclays PLC now owns 14,096 shares of the company’s stock worth $265,000 after purchasing an additional 10,565 shares during the period. Finally, Geode Capital Management LLC increased its position in PCB Bancorp by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 255,959 shares of the company’s stock worth $4,810,000 after purchasing an additional 1,751 shares during the period. Institutional investors and hedge funds own 33.04% of the company’s stock.

About PCB Bancorp

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.