Bank of New York Mellon Corp Has $1.66 Million Stock Holdings in PCB Bancorp (NASDAQ:PCB)

Bank of New York Mellon Corp grew its position in PCB Bancorp (NASDAQ:PCB - Free Report) by 19.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 82,023 shares of the company's stock after purchasing an additional 13,529 shares during the period. Bank of New York Mellon Corp owned about 0.57% of PCB Bancorp worth $1,660,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC boosted its position in PCB Bancorp by 0.7% in the third quarter. Geode Capital Management LLC now owns 255,959 shares of the company's stock valued at $4,810,000 after buying an additional 1,751 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of PCB Bancorp by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 30,841 shares of the company's stock worth $580,000 after buying an additional 1,814 shares in the last quarter. Empowered Funds LLC raised its stake in shares of PCB Bancorp by 4.8% in the fourth quarter. Empowered Funds LLC now owns 54,550 shares of the company's stock valued at $1,104,000 after acquiring an additional 2,510 shares during the last quarter. Barclays PLC boosted its holdings 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 acquiring an additional 10,565 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in PCB Bancorp by 99.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 21,189 shares of the company's stock worth $398,000 after acquiring an additional 10,571 shares during the last quarter. Institutional investors own 33.04% of the company's stock.

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Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods boosted their price objective on PCB Bancorp from $20.00 to $23.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th.

Insider Buying and Selling at PCB Bancorp

In related news, Director Sang Young Lee purchased 4,504 shares of PCB Bancorp stock in a transaction dated Thursday, February 13th. The shares were acquired at an average cost of $19.78 per share, for a total transaction of $89,089.12. Following the transaction, the director now directly owns 1,530,711 shares of the company's stock, valued at approximately $30,277,463.58. This trade represents a 0.30 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 25.01% of the company's stock.

PCB Bancorp Stock Performance

Shares of NASDAQ PCB traded up $0.33 during trading on Wednesday, reaching $19.18. The company had a trading volume of 18,124 shares, compared to its average volume of 25,183. PCB Bancorp has a 52 week low of $14.50 and a 52 week high of $22.20. The business's 50 day moving average price is $19.38 and its 200-day moving average price is $19.56. The stock has a market cap of $275.83 million, a PE ratio of 11.02 and a beta of 0.65.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. PCB Bancorp had a return on equity of 9.02% and a net margin of 13.45%. Equities analysts anticipate that PCB Bancorp will post 2.04 earnings per share for the current year.

PCB Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were issued a dividend of $0.20 per share. This is a boost from PCB Bancorp's previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend was Friday, February 14th. PCB Bancorp's payout ratio is currently 45.98%.

PCB Bancorp 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.