PCB Bancorp (NASDAQ:PCB) Sees Significant Decline in Short Interest

PCB Bancorp (NASDAQ:PCB - Get Free Report) was the recipient of a large decrease in short interest during the month of February. As of February 15th, there was short interest totalling 32,000 shares, a decrease of 20.2% from the January 31st total of 40,100 shares. Based on an average daily volume of 26,800 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.3% of the company's stock are short sold.

Analyst Ratings Changes

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

PCB Bancorp Stock Performance

Shares of PCB traded up $0.13 during mid-day trading on Friday, hitting $18.93. 27,667 shares of the company were exchanged, compared to its average volume of 24,595. The stock has a market cap of $270.07 million, a price-to-earnings ratio of 10.88 and a beta of 0.65. PCB Bancorp has a 1-year low of $14.50 and a 1-year high of $22.20. The company has a 50 day moving average of $19.57 and a 200-day moving average of $19.54.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last announced its earnings results 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 net margin of 13.45% and a return on equity of 9.02%. Research analysts anticipate that PCB Bancorp will post 2.04 earnings per share for the current fiscal year.

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PCB Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.23%. 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. PCB Bancorp's dividend payout ratio (DPR) is 45.98%.

Insider Buying and Selling

In related news, Director Sang Young Lee acquired 4,504 shares of the business's stock in a transaction dated 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 completion of the acquisition, the director now directly owns 1,530,711 shares in the company, valued at $30,277,463.58. The trade was a 0.30 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 25.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PCB Bancorp

Several large investors have recently made changes to their positions in PCB. JPMorgan Chase & Co. increased its holdings 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 purchasing an additional 10,571 shares during the period. Charles Schwab Investment Management Inc. increased its stake 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 during the period. Barclays PLC increased its stake in shares of PCB Bancorp by 299.2% during the third quarter. Barclays PLC now owns 14,096 shares of the company's stock worth $265,000 after buying an additional 10,565 shares during the period. Geode Capital Management LLC lifted its stake in PCB Bancorp by 0.7% in the third quarter. Geode Capital Management LLC now owns 255,959 shares of the company's stock worth $4,810,000 after acquiring an additional 1,751 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in PCB Bancorp by 4.8% during the 4th quarter. Empowered Funds LLC now owns 54,550 shares of the company's stock worth $1,104,000 after acquiring an additional 2,510 shares in the last quarter. 33.04% of the stock is currently owned by institutional investors and hedge funds.

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.