PCB Bancorp (NASDAQ:PCB) Sees Large Increase in Short Interest

PCB Bancorp (NASDAQ:PCB) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 38,100 shares, a growth of 22.1% from the February 28th total of 31,200 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 24,900 shares, the days-to-cover ratio is presently 1.5 days.

PCB Bancorp Trading Down 6.0 %

NASDAQ PCB traded down $1.11 during trading hours on Thursday, reaching $17.46. The company had a trading volume of 3,548 shares, compared to its average volume of 24,247. The stock has a market capitalization of $251.02 million, a P/E ratio of 10.03 and a beta of 0.65. The stock has a 50-day moving average of $19.30 and a 200 day moving average of $19.57. PCB Bancorp has a 1-year low of $14.50 and a 1-year high of $22.20.

PCB Bancorp (NASDAQ:PCB) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. PCB Bancorp had a net margin of 13.45% and a return on equity of 9.02%. As a group, sell-side analysts predict that PCB Bancorp will post 2.04 EPS for the current year.

PCB Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from PCB Bancorp’s previous quarterly dividend of $0.18. PCB Bancorp’s dividend payout ratio (DPR) is currently 45.98%.

Wall Street Analyst Weigh In

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

Insider Activity at PCB Bancorp

In other PCB Bancorp news, Director Sang Young Lee bought 4,504 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were acquired at an average cost of $19.78 per share, with a total value of $89,089.12. Following the purchase, the director now directly owns 1,530,711 shares of the company’s stock, valued at $30,277,463.58. This trade represents a 0.30 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 25.01% of the stock is currently owned by corporate insiders.

Institutional Trading of PCB Bancorp

A number of large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its stake in PCB Bancorp by 71.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company’s stock worth $32,000 after purchasing an additional 667 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of PCB Bancorp by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 6,404 shares of the company’s stock worth $130,000 after buying an additional 1,395 shares in the last quarter. Deutsche Bank AG increased its stake in shares of PCB Bancorp by 39.5% during the fourth quarter. Deutsche Bank AG now owns 7,283 shares of the company’s stock worth $147,000 after buying an additional 2,063 shares during the period. Lazard Asset Management LLC acquired a new stake in PCB Bancorp in the fourth quarter valued at approximately $186,000. Finally, Diversify Advisory Services LLC purchased a new position in PCB Bancorp in the fourth quarter worth approximately $214,000. Hedge funds and other institutional investors 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.