PCB Bancorp (NASDAQ:PCB) Price Target Raised to $21.00

PCB Bancorp (NASDAQ:PCB - Free Report) had its price target boosted by Piper Sandler from $20.00 to $21.00 in a research note released on Monday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Separately, Keefe, Bruyette & Woods raised their price target on PCB Bancorp from $17.00 to $20.00 and gave the company a "market perform" rating in a report on Monday, July 29th.

PCB Bancorp Stock Performance

Shares of NASDAQ PCB traded up $0.59 during mid-day trading on Monday, hitting $19.00. The company had a trading volume of 69,218 shares, compared to its average volume of 21,867. PCB Bancorp has a 12 month low of $14.50 and a 12 month high of $20.22. The firm has a market cap of $270.75 million, a P/E ratio of 11.04 and a beta of 0.67. The business's 50-day simple moving average is $18.49 and its 200-day simple moving average is $16.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 1.07.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.07. The company had revenue of $48.62 million during the quarter, compared to the consensus estimate of $25.50 million. PCB Bancorp had a return on equity of 8.77% and a net margin of 13.27%. As a group, analysts predict that PCB Bancorp will post 1.65 earnings per share for the current fiscal year.

PCB Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date is Friday, November 8th. PCB Bancorp's dividend payout ratio (DPR) is currently 42.60%.

Insider Transactions at PCB Bancorp

In other PCB Bancorp news, Director Daniel Cho sold 25,000 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $18.47, for a total value of $461,750.00. Following the sale, the director now directly owns 98,000 shares in the company, valued at approximately $1,810,060. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 25.01% of the company's stock.

Institutional Investors Weigh In On PCB Bancorp

Several large investors have recently modified their holdings of the business. Empowered Funds LLC increased its position in shares of PCB Bancorp by 8.1% during the first quarter. Empowered Funds LLC now owns 46,074 shares of the company's stock worth $752,000 after acquiring an additional 3,434 shares in the last quarter. Vanguard Group Inc. increased its holdings in PCB Bancorp by 0.6% during 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 raised its stake in shares of 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 valued at $1,236,000 after purchasing an additional 4,242 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of PCB Bancorp by 51.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 22,391 shares of the company's stock valued at $366,000 after purchasing an additional 7,588 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of 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 purchasing an additional 10,200 shares in the last quarter. 33.04% of the stock is currently owned by institutional investors.

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.