Insider Buying: PCB Bancorp (NASDAQ:PCB) Director Acquires 8,174 Shares of Stock

PCB Bancorp (NASDAQ:PCB) Director Sang Young Lee purchased 8,174 shares of the company’s stock in a transaction on Monday, November 18th. The shares were purchased at an average cost of $20.74 per share, with a total value of $169,528.76. Following the transaction, the director now directly owns 1,517,708 shares in the company, valued at $31,477,263.92. This trade represents a 0.54 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Sang Young Lee also recently made the following trade(s):

• On Friday, November 15th, Sang Young Lee acquired 1,000 shares of PCB Bancorp stock. The shares were purchased at an average cost of $20.60 per share, with a total value of $20,600.00.

PCB Bancorp Price Performance

Shares of NASDAQ PCB opened at $20.80 on Tuesday. PCB Bancorp has a 1 year low of $14.50 and a 1 year high of $21.60. The company’s 50-day moving average is $18.91 and its 200 day moving average is $17.44. The stock has a market capitalization of $296.75 million, a P/E ratio of 12.31 and a beta of 0.67.

PCB Bancorp (NASDAQ:PCB) last posted its earnings results on Thursday, October 24th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. The firm had revenue of $48.62 million for the quarter, compared to the consensus estimate of $25.50 million. PCB Bancorp had a return on equity of 8.68% and a net margin of 13.27%. Research analysts anticipate that PCB Bancorp will post 1.74 earnings per share for the current year.

PCB Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a $0.18 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.72 dividend on an annualized basis and a yield of 3.46%. PCB Bancorp’s dividend payout ratio (DPR) is 42.60%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PCB. Keefe, Bruyette & Woods boosted their target price on PCB Bancorp from $17.00 to $20.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Piper Sandler lifted 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.

Institutional Trading of PCB Bancorp

A number of hedge funds have recently modified their holdings of the business. Barclays PLC boosted its position in shares of PCB Bancorp by 299.2% in 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 in the last quarter. O Shaughnessy Asset Management LLC raised its stake in PCB Bancorp by 51.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 22,391 shares of the company’s stock valued at $366,000 after buying an additional 7,588 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in PCB Bancorp in the third quarter worth $407,000. Charles Schwab Investment Management Inc. grew its stake in shares of PCB Bancorp by 6.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 30,841 shares of the company’s stock worth $580,000 after acquiring an additional 1,814 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of PCB Bancorp by 24.2% during 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 in the last quarter. Institutional investors own 33.04% of the company’s stock.

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.