PCB Bancorp (NASDAQ:PCB) Given New $23.00 Price Target at Keefe, Bruyette & Woods

PCB Bancorp (NASDAQ:PCB) had its price objective increased by Keefe, Bruyette & Woods from $21.00 to $23.00 in a research note released on Tuesday,Benzinga reports. They currently have a market perform rating on the stock.

PCB Bancorp Price Performance

PCB opened at $19.85 on Tuesday. PCB Bancorp has a fifty-two week low of $14.50 and a fifty-two week high of $22.20. The firm has a market capitalization of $285.58 million, a PE ratio of 11.41 and a beta of 0.47. The company’s 50-day moving average is $18.61 and its 200 day moving average is $19.53.

PCB Bancorp (NASDAQ:PCB) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. The firm had revenue of $26.86 million during the quarter, compared to analyst estimates of $26.40 million. PCB Bancorp had a return on equity of 9.02% and a net margin of 13.45%. As a group, analysts expect that PCB Bancorp will post 2.04 EPS for the current year.

PCB Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, May 9th will be paid a $0.20 dividend. The ex-dividend date is Friday, May 9th. This represents a $0.80 annualized dividend and a dividend yield of 4.03%. PCB Bancorp’s payout ratio is 41.24%.

Insider Activity at PCB Bancorp

In other PCB Bancorp news, Director Sang Young Lee bought 4,504 shares of PCB Bancorp stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost of $19.78 per share, with a total value of $89,089.12. Following the completion of the acquisition, the director now directly owns 1,530,711 shares in the company, valued at approximately $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 is accessible through this hyperlink. 25.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PCB. Tower Research Capital LLC TRC raised its stake in shares of PCB Bancorp by 71.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company’s stock worth $32,000 after purchasing an additional 667 shares during the period. Wells Fargo & Company MN increased its holdings in PCB Bancorp by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 6,404 shares of the company’s stock worth $130,000 after buying an additional 1,395 shares during the last quarter. Deutsche Bank AG raised its position in PCB Bancorp by 39.5% in the fourth quarter. Deutsche Bank AG now owns 7,283 shares of the company’s stock worth $147,000 after acquiring an additional 2,063 shares during the period. Lazard Asset Management LLC purchased a new position in PCB Bancorp in the fourth quarter valued at about $186,000. Finally, Diversify Advisory Services LLC bought a new position in shares of PCB Bancorp during the 4th quarter valued at approximately $214,000. Hedge funds and other institutional investors own 33.04% of the company’s stock.

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.