Insider Buying: PCB Bancorp (NASDAQ:PCB) CEO Acquires 3,700 Shares of Stock

PCB Bancorp (NASDAQ:PCB) CEO Henry Kim acquired 3,700 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was acquired at an average cost of $20.35 per share, with a total value of $75,295.00. Following the completion of the purchase, the chief executive officer now owns 24,713 shares of the company’s stock, valued at $502,909.55. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

PCB Bancorp Stock Up 5.7 %

PCB Bancorp stock traded up $1.12 during trading hours on Wednesday, reaching $20.61. The stock had a trading volume of 226,348 shares, compared to its average volume of 23,138. The company has a market cap of $293.69 million, a price-to-earnings ratio of 11.98 and a beta of 0.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 1.07. The business’s 50 day moving average price is $18.51 and its 200-day moving average price is $17.06. PCB Bancorp has a 52 week low of $14.50 and a 52 week high of $20.81.

PCB Bancorp (NASDAQ:PCB) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.07. PCB Bancorp had a net margin of 13.27% and a return on equity of 8.77%. The firm had revenue of $48.62 million for the quarter, compared to the consensus estimate of $25.50 million. Sell-side analysts anticipate that PCB Bancorp will post 1.74 EPS for the current year.

PCB Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.72 dividend on an annualized basis and a yield of 3.49%. PCB Bancorp’s dividend payout ratio is currently 42.60%.

Institutional Investors Weigh In On PCB Bancorp

A number of large investors have recently bought and sold shares of the company. Empowered Funds LLC boosted its position in PCB Bancorp by 8.1% in the 1st quarter. Empowered Funds LLC now owns 46,074 shares of the company’s stock worth $752,000 after purchasing an additional 3,434 shares in the last quarter. Vanguard Group Inc. boosted its position in PCB Bancorp by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 656,732 shares of the company’s stock worth $10,724,000 after purchasing an additional 4,152 shares in the last quarter. Bank of New York Mellon Corp boosted its position in PCB Bancorp by 5.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 75,933 shares of the company’s stock worth $1,236,000 after purchasing an additional 4,242 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in PCB Bancorp by 51.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 22,391 shares of the company’s stock worth $366,000 after purchasing an additional 7,588 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in PCB Bancorp by 24.2% in the 2nd quarter. Renaissance Technologies LLC now owns 52,401 shares of the company’s stock worth $853,000 after purchasing an additional 10,200 shares in the last quarter. Hedge funds and other institutional investors own 33.04% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Piper Sandler upped their price objective on shares of PCB Bancorp from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Keefe, Bruyette & Woods boosted their target price on shares of PCB Bancorp from $17.00 to $20.00 and gave the stock a “market perform” rating in a report on Monday, July 29th.

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.