Connor Clark & Lunn Investment Management Ltd. Has $975,000 Position in PCB Bancorp (NASDAQ:PCB)

Connor Clark & Lunn Investment Management Ltd. raised its position in PCB Bancorp (NASDAQ:PCB - Free Report) by 122.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,161 shares of the company's stock after purchasing an additional 26,509 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.34% of PCB Bancorp worth $975,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. JPMorgan Chase & Co. grew its position in PCB Bancorp by 99.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 21,189 shares of the company's stock valued at $398,000 after buying an additional 10,571 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of PCB Bancorp by 6.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 30,841 shares of the company's stock worth $580,000 after acquiring an additional 1,814 shares during the period. Barclays PLC boosted its holdings in shares of PCB Bancorp by 299.2% in the third quarter. Barclays PLC now owns 14,096 shares of the company's stock valued at $265,000 after acquiring an additional 10,565 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of PCB Bancorp by 0.7% during the third quarter. Geode Capital Management LLC now owns 255,959 shares of the company's stock valued at $4,810,000 after acquiring an additional 1,751 shares during the period. Finally, Empowered Funds LLC raised its holdings in PCB Bancorp by 4.8% during the fourth quarter. Empowered Funds LLC now owns 54,550 shares of the company's stock worth $1,104,000 after purchasing an additional 2,510 shares in the last quarter. 33.04% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

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

PCB Bancorp Stock Performance

NASDAQ PCB traded up $0.42 on Monday, reaching $19.12. The company's stock had a trading volume of 19,454 shares, compared to its average volume of 25,115. The firm's 50 day moving average is $19.38 and its two-hundred day moving average is $19.55. The stock has a market cap of $274.96 million, a PE ratio of 10.99 and a beta of 0.65. PCB Bancorp has a twelve month low of $14.50 and a twelve month high of $22.20.

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

PCB Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change 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 4.18%. PCB Bancorp's payout ratio is 45.98%.

Insider Activity

In related news, Director Sang Young Lee acquired 4,504 shares of the business's stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $19.78 per share, for a total transaction of $89,089.12. Following the acquisition, the director now owns 1,530,711 shares in the company, valued at approximately $30,277,463.58. This represents a 0.30 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 25.01% of the stock is currently owned by company insiders.

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.