Short Interest in PCB Bancorp (NASDAQ:PCB) Decreases By 20.2%

PCB Bancorp (NASDAQ:PCB) was the recipient of a significant decrease in short interest in February. As of February 15th, there was short interest totalling 32,000 shares, a decrease of 20.2% from the January 31st total of 40,100 shares. Based on an average daily trading volume, of 26,800 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.3% of the shares of the stock are sold short.

Insider Transactions at PCB Bancorp

In related news, Director Sang Young Lee acquired 4,504 shares of PCB Bancorp stock in a transaction dated Thursday, February 13th. The shares were purchased at an average cost of $19.78 per share, with a total value of $89,089.12. Following the completion of the purchase, the director now owns 1,530,711 shares of the company’s stock, valued at $30,277,463.58. This represents a 0.30 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 25.01% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Empowered Funds LLC boosted its holdings in PCB Bancorp by 5.1% in the third quarter. Empowered Funds LLC now owns 52,040 shares of the company’s stock worth $978,000 after acquiring an additional 2,546 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of PCB Bancorp in the third quarter worth $407,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of PCB Bancorp by 6.2% during the 3rd 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. Barclays PLC lifted its position in PCB Bancorp by 299.2% during the third quarter. Barclays PLC now owns 14,096 shares of the company’s stock valued at $265,000 after purchasing an additional 10,565 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in PCB Bancorp by 0.7% in the third 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 last quarter. 33.04% of the stock is currently owned by institutional investors.

PCB Bancorp Price Performance

NASDAQ:PCB traded up $0.49 during mid-day trading on Thursday, reaching $19.32. 4,256 shares of the company’s stock traded hands, compared to its average volume of 24,037. The company has a 50 day moving average price of $19.60 and a 200-day moving average price of $19.55. The firm has a market capitalization of $275.57 million, a price-to-earnings ratio of 11.10 and a beta of 0.65. PCB Bancorp has a 12-month low of $14.50 and a 12-month high of $22.20.

PCB Bancorp (NASDAQ:PCB) last announced its earnings results on Thursday, January 30th. The company reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. PCB Bancorp had a return on equity of 9.02% and a net margin of 13.45%. As a group, analysts forecast that PCB Bancorp will post 2.04 EPS for the current year.

PCB Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 14th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from PCB Bancorp’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.14%. PCB Bancorp’s dividend payout ratio is currently 45.98%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lifted their target price on shares of PCB Bancorp from $20.00 to $23.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

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.