PCB Bancorp (NASDAQ:PCB – Get Free Report) shares traded down 1.3% during mid-day trading on Wednesday. The company traded as low as $27.38 and last traded at $27.38. 99,539 shares changed hands during mid-day trading, an increase of 213% from the average session volume of 31,820 shares. The stock had previously closed at $27.73.
Analyst Upgrades and Downgrades
PCB has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their target price on PCB Bancorp from $29.00 to $29.50 and gave the company a “market perform” rating in a research report on Monday, July 27th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of PCB Bancorp in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $27.75.
Read Our Latest Stock Analysis on PCB Bancorp
PCB Bancorp Stock Up 0.8%
PCB Bancorp (NASDAQ:PCB – Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.70 by $0.03. PCB Bancorp had a return on equity of 12.91% and a net margin of 19.65%.The business had revenue of $30.70 million during the quarter, compared to analysts’ expectations of $31.10 million. As a group, equities analysts predict that PCB Bancorp will post 2.94 EPS for the current year.
PCB Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were given a dividend of $0.22 per share. The ex-dividend date was Friday, August 7th. This represents a $0.88 dividend on an annualized basis and a yield of 3.1%. PCB Bancorp’s dividend payout ratio is presently 30.45%.
Institutional Trading of PCB Bancorp
Several hedge funds and other institutional investors have recently made changes to their positions in PCB. Bank of New York Mellon Corp purchased a new position in PCB Bancorp during the second quarter worth about $1,713,000. BlackRock Inc. purchased a new stake in PCB Bancorp in the 2nd quarter valued at approximately $24,546,000. Empowered Funds LLC acquired a new position in PCB Bancorp during the 2nd quarter worth approximately $2,282,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in PCB Bancorp during the 2nd quarter worth approximately $2,631,000. Finally, GSA Capital Partners LLP purchased a new position in shares of PCB Bancorp during the 2nd quarter worth approximately $785,000. Hedge funds and other institutional investors own 33.04% of the company’s stock.
PCB Bancorp Company Profile
PCB Bancorp is the holding company for PCB Bank, a community-focused commercial bank headquartered in Los Angeles, California. The bank primarily serves individuals, small and medium-sized businesses, and commercial customers through its branch network and digital banking services.
PCB Bank offers a range of financial products, including consumer and business checking and savings accounts, certificates of deposit, commercial and industrial loans, commercial real estate financing, residential mortgage loans, and Small Business Administration lending.
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