Short Interest in PCB Bancorp (NASDAQ:PCB) Drops By 16.5%

PCB Bancorp (NASDAQ:PCB - Get Free Report) was the target of a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 51,000 shares, a decline of 16.5% from the December 31st total of 61,100 shares. Based on an average daily trading volume, of 31,400 shares, the short-interest ratio is presently 1.6 days. Approximately 0.5% of the company's shares are short sold.

Insider Buying and Selling at PCB Bancorp

In related news, Director Sang Young Lee purchased 8,174 shares of the business's stock in a transaction on Monday, November 18th. The shares were bought at an average cost of $20.74 per share, with a total value of $169,528.76. Following the transaction, the director now owns 1,517,708 shares of the company's stock, valued at approximately $31,477,263.92. This trade represents a 0.54 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Don Rhee acquired 7,300 shares of PCB Bancorp stock in a transaction on Friday, November 29th. The shares were bought at an average price of $21.22 per share, with a total value of $154,906.00. Following the completion of the transaction, the director now directly owns 399,144 shares of the company's stock, valued at $8,469,835.68. This trade represents a 1.86 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 27,674 shares of company stock worth $585,327 over the last 90 days. Company insiders own 25.01% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Diversify Advisory Services LLC purchased a new position in PCB Bancorp in the fourth quarter valued at about $214,000. Barclays PLC boosted its holdings in 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 during the period. JPMorgan Chase & Co. lifted its holdings in PCB Bancorp by 99.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 21,189 shares of the company's stock worth $398,000 after buying an additional 10,571 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in PCB Bancorp during the 3rd quarter worth approximately $407,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in PCB Bancorp by 6.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 30,841 shares of the company's stock valued at $580,000 after acquiring an additional 1,814 shares during the last quarter. Institutional investors and hedge funds own 33.04% of the company's stock.

PCB Bancorp Stock Performance

PCB Bancorp stock traded up $0.03 during mid-day trading on Wednesday, reaching $20.18. 20,069 shares of the company were exchanged, compared to its average volume of 21,291. The firm's 50-day simple moving average is $20.16 and its two-hundred day simple moving average is $19.33. PCB Bancorp has a twelve month low of $14.50 and a twelve month high of $22.20. The firm has a market cap of $287.90 million, a PE ratio of 11.59 and a beta of 0.70.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $0.46 EPS for the quarter, hitting analysts' consensus estimates of $0.46. PCB Bancorp had a return on equity of 9.02% and a net margin of 13.45%. As a group, equities research analysts anticipate that PCB Bancorp will post 1.99 EPS for the current year.

PCB Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 14th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, February 14th. This is an increase from PCB Bancorp's previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 3.97%. PCB Bancorp's dividend payout ratio is 41.38%.

Analysts Set New Price Targets

PCB has been the subject of several research analyst reports. Piper Sandler raised their price target on PCB Bancorp from $20.00 to $21.00 and gave the stock a "neutral" rating in a research report on Monday, October 28th. Keefe, Bruyette & Woods lifted their price target on shares of PCB Bancorp from $20.00 to $23.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th.

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.