Key Points
- Insider purchase: Director Sang Young Lee bought 2,000 shares of PCB Bancorp at $22.75 on March 4 (about $45,500), bringing his direct holdings to 1,592,961 shares (~$36.24M) after a series of prior purchases earlier in late February and early March.
- Stock and valuation: PCB traded down to $22.31 (down 1.9%), with a market cap of $318.14M, a P/E of 8.68 and a 52-week range of $16.00–$24.20.
- Dividend and analyst view: The firm raised its quarterly dividend to $0.22 ($0.88 annualized), a 3.9% yield (34.24% payout ratio), and analysts have an average rating of “Moderate Buy” with a $24.50 target.
PCB Bancorp (NASDAQ:PCB - Get Free Report) Director Sang Young Lee purchased 2,000 shares of the business's stock in a transaction dated Wednesday, March 4th. The shares were purchased at an average price of $22.75 per share, with a total value of $45,500.00. Following the acquisition, the director directly owned 1,592,961 shares in the company, valued at approximately $36,239,862.75. The trade was a 0.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Sang Young Lee also recently made the following trade(s):
- On Tuesday, March 3rd, Sang Young Lee acquired 92 shares of PCB Bancorp stock. The stock was bought at an average price of $22.00 per share, for a total transaction of $2,024.00.
- On Friday, February 27th, Sang Young Lee acquired 3,027 shares of PCB Bancorp stock. The stock was bought at an average price of $22.43 per share, for a total transaction of $67,895.61.
- On Monday, February 23rd, Sang Young Lee acquired 5,000 shares of PCB Bancorp stock. The stock was purchased at an average cost of $22.48 per share, with a total value of $112,400.00.
PCB Bancorp Stock Down 1.9%
NASDAQ:PCB traded down $0.44 on Thursday, reaching $22.31. 14,425 shares of the company's stock were exchanged, compared to its average volume of 22,293. The business has a fifty day moving average of $22.43 and a 200-day moving average of $21.88. The firm has a market capitalization of $318.14 million, a price-to-earnings ratio of 8.68 and a beta of 0.56. PCB Bancorp has a 52-week low of $16.00 and a 52-week high of $24.20.
PCB Bancorp (NASDAQ:PCB - Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.03. The company had revenue of $29.17 million during the quarter, compared to the consensus estimate of $29.33 million. PCB Bancorp had a net margin of 17.89% and a return on equity of 12.15%. As a group, equities analysts anticipate that PCB Bancorp will post 2.04 earnings per share for the current year.
PCB Bancorp Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 13th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.9%. This is a positive change from PCB Bancorp's previous quarterly dividend of $0.20. The ex-dividend date was Friday, February 13th. PCB Bancorp's payout ratio is currently 34.24%.
Analyst Upgrades and Downgrades
PCB has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of PCB Bancorp from a "hold" rating to a "buy" rating in a research report on Saturday, November 15th. Zacks Research upgraded PCB Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 3rd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of PCB Bancorp in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $24.50.
View Our Latest Report on PCB
Hedge Funds Weigh In On PCB Bancorp
A number of institutional investors and hedge funds have recently modified their holdings of PCB. American Century Companies Inc. raised its position in PCB Bancorp by 30.7% in the 2nd quarter. American Century Companies Inc. now owns 124,063 shares of the company's stock valued at $2,603,000 after buying an additional 29,140 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of PCB Bancorp by 19.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 66,194 shares of the company's stock valued at $1,389,000 after purchasing an additional 10,547 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in PCB Bancorp during the second quarter worth about $554,000. Segall Bryant & Hamill LLC purchased a new position in shares of PCB Bancorp in the 2nd quarter worth approximately $1,977,000. Finally, PNC Financial Services Group Inc. increased its position in shares of PCB Bancorp by 1,033.5% during the second quarter. PNC Financial Services Group Inc. now owns 3,151 shares of the company's stock valued at $66,000 after acquiring an additional 2,873 shares during the last quarter. 33.04% of the stock is currently owned by institutional investors.
About PCB Bancorp
(
Get Free Report)
PCB Bancorp is the bank holding company for Pacific City Bank, a California-chartered bank founded in 1999 and headquartered in Torrance, California. As the parent of an FDIC-insured institution, PCB Bancorp oversees a community-focused banking franchise that serves both retail customers and commercial enterprises. The company's strategy emphasizes personalized service and deep market knowledge to meet the evolving needs of individuals, families and businesses in Southern California.
Through its subsidiary Pacific City Bank, PCB Bancorp offers a broad range of financial products and services, including deposit accounts, commercial real estate and construction lending, residential mortgages, trade finance, treasury management and wealth advisory solutions.
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