Hotchkis & Wiley Capital Management LLC Trims Position in PCB Bancorp (NASDAQ:PCB)

Hotchkis & Wiley Capital Management LLC lowered its position in shares of PCB Bancorp (NASDAQ:PCB - Free Report) by 25.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 131,340 shares of the company's stock after selling 45,210 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 0.92% of PCB Bancorp worth $2,468,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PCB. Vanguard Group Inc. lifted its holdings 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 buying an additional 4,152 shares during the period. Bank of New York Mellon Corp lifted its stake in PCB Bancorp by 5.9% in the second quarter. Bank of New York Mellon Corp now owns 75,933 shares of the company's stock worth $1,236,000 after acquiring an additional 4,242 shares during the period. Dimensional Fund Advisors LP lifted its stake in PCB Bancorp by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 461,114 shares of the company's stock worth $7,506,000 after acquiring an additional 26,859 shares during the period. Renaissance Technologies LLC boosted its holdings in PCB Bancorp by 24.2% in the second quarter. Renaissance Technologies LLC now owns 52,401 shares of the company's stock valued at $853,000 after acquiring an additional 10,200 shares in the last quarter. Finally, Empowered Funds LLC increased its position in PCB Bancorp by 5.1% during the 3rd quarter. Empowered Funds LLC now owns 52,040 shares of the company's stock valued at $978,000 after purchasing an additional 2,546 shares during the period. Institutional investors own 33.04% of the company's stock.

PCB Bancorp Price Performance

PCB stock traded down $0.11 during midday trading on Friday, hitting $21.58. The stock had a trading volume of 21,045 shares, compared to its average volume of 32,328. The business has a 50-day moving average of $19.67 and a two-hundred day moving average of $17.98. The firm has a market cap of $307.95 million, a price-to-earnings ratio of 12.77 and a beta of 0.70. PCB Bancorp has a 52-week low of $14.50 and a 52-week high of $22.00.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last released its earnings results on Thursday, October 24th. The company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.07. PCB Bancorp had a net margin of 13.27% and a return on equity of 8.68%. The firm had revenue of $48.62 million for the quarter, compared to the consensus estimate of $25.50 million. Research analysts predict that PCB Bancorp will post 1.74 earnings per share for the current year.

PCB Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a dividend of $0.18 per share. The ex-dividend date was Friday, November 8th. This represents a $0.72 annualized dividend and a dividend yield of 3.34%. PCB Bancorp's payout ratio is 42.60%.

Insider Transactions at PCB Bancorp

In other news, Director Sang Young Lee purchased 8,200 shares of PCB Bancorp stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average price of $21.46 per share, with a total value of $175,972.00. Following the completion of the transaction, the director now directly owns 1,526,207 shares of the company's stock, valued at approximately $32,752,402.22. The trade was a 0.54 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Don Rhee bought 7,300 shares of the business's stock in a transaction on Friday, November 29th. The shares were acquired at an average price of $21.22 per share, for a total transaction of $154,906.00. Following the completion of the purchase, the director now owns 399,144 shares in the company, valued at approximately $8,469,835.68. The trade was a 1.86 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 31,374 shares of company stock valued at $660,622 in the last ninety days. 25.01% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PCB has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised their target price on shares of PCB Bancorp from $20.00 to $23.00 and gave the stock a "market perform" rating in a research report on Wednesday. Piper Sandler raised their price objective on shares of PCB Bancorp from $20.00 to $21.00 and gave the stock a "neutral" rating in a report on Monday, October 28th.

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.