PCB Bancorp (NASDAQ:PCB) Sees Large Drop in Short Interest

PCB Bancorp (NASDAQ:PCB) saw 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 short-interest ratio is presently 1.2 days. Currently, 0.3% of the company’s stock are short sold.

PCB Bancorp Stock Performance

Shares of PCB traded down $0.33 during trading hours on Tuesday, hitting $19.10. 17,956 shares of the company were exchanged, compared to its average volume of 24,667. The company has a market cap of $272.50 million, a PE ratio of 10.98 and a beta of 0.70. The firm’s 50 day moving average is $19.63 and its 200-day moving average is $19.55. PCB Bancorp has a 52 week low of $14.50 and a 52 week high of $22.20.

PCB Bancorp (NASDAQ:PCB) last released its quarterly 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 return on equity of 9.02% and a net margin of 13.45%. As a group, equities analysts forecast that PCB Bancorp will post 2.04 earnings per share for the current fiscal year.

PCB Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were paid a dividend of $0.20 per share. This is an increase from PCB Bancorp’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.80 annualized dividend and a yield of 4.19%. PCB Bancorp’s dividend payout ratio is presently 45.98%.

Insiders Place Their Bets

In related news, Director Sang Young Lee purchased 4,504 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was bought at an average price of $19.78 per share, for a total transaction of $89,089.12. Following the purchase, the director now 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 SEC, which can be accessed through this link. Insiders own 25.01% of the company’s stock.

Institutional Trading of PCB Bancorp

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in PCB Bancorp by 99.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 21,189 shares of the company’s stock valued at $398,000 after purchasing an additional 10,571 shares during the period. 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 purchasing an additional 1,814 shares during the period. Barclays PLC boosted its stake in PCB Bancorp by 299.2% during the 3rd quarter. Barclays PLC now owns 14,096 shares of the company’s stock valued at $265,000 after purchasing an additional 10,565 shares during the period. Geode Capital Management LLC boosted its stake in PCB Bancorp by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 255,959 shares of the company’s stock valued at $4,810,000 after purchasing an additional 1,751 shares during the period. Finally, Empowered Funds LLC boosted its stake in PCB Bancorp by 4.8% during the 4th quarter. Empowered Funds LLC now owns 54,550 shares of the company’s stock valued at $1,104,000 after purchasing an additional 2,510 shares during the period. Institutional investors own 33.04% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upped their price target on PCB Bancorp from $20.00 to $23.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

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.