PCB Bancorp (NASDAQ:PCB) Price Target Raised to $25.00

PCB Bancorp (NASDAQ:PCB) had its target price upped by Keefe, Bruyette & Woods from $23.50 to $25.00 in a report released on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

A number of other equities analysts also recently issued reports on PCB. Piper Sandler increased their price objective on shares of PCB Bancorp from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday. Weiss Ratings reiterated a “buy (b-)” rating on shares of PCB Bancorp in a research note on Tuesday, October 14th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $24.50.

PCB Bancorp Price Performance

NASDAQ PCB opened at $21.19 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.06. The firm’s 50 day moving average price is $21.19 and its 200-day moving average price is $20.68. PCB Bancorp has a 52-week low of $16.00 and a 52-week high of $22.45. The company has a market cap of $304.08 million, a PE ratio of 8.87 and a beta of 0.58.

PCB Bancorp (NASDAQ:PCB) last released its quarterly earnings data on Wednesday, May 24th. The company reported $0.85 earnings per share (EPS) for the quarter. PCB Bancorp had a net margin of 17.08% and a return on equity of 11.70%. The firm had revenue of $24.15 million for the quarter. Sell-side analysts forecast that PCB Bancorp will post 2.04 EPS for the current fiscal year.

PCB Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, November 7th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.8%. PCB Bancorp’s dividend payout ratio (DPR) is currently 33.47%.

Insider Activity

In related news, Director Don Rhee purchased 10,000 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was acquired at an average price of $20.13 per share, with a total value of $201,300.00. Following the completion of the acquisition, the director owned 419,044 shares in the company, valued at approximately $8,435,355.72. This represents a 2.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 25.86% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in PCB Bancorp by 3,769.6% during the second quarter. Russell Investments Group Ltd. now owns 1,780 shares of the company’s stock worth $37,000 after acquiring an additional 1,734 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in PCB Bancorp by 88.2% during the second quarter. Tower Research Capital LLC TRC now owns 1,916 shares of the company’s stock worth $40,000 after acquiring an additional 898 shares during the last quarter. CWM LLC boosted its position in PCB Bancorp by 61.5% during the second quarter. CWM LLC now owns 2,046 shares of the company’s stock worth $43,000 after acquiring an additional 779 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in PCB Bancorp during the second quarter worth about $44,000. Finally, PNC Financial Services Group Inc. boosted its position in PCB Bancorp by 1,033.5% during the second quarter. PNC Financial Services Group Inc. now owns 3,151 shares of the company’s stock worth $66,000 after acquiring an additional 2,873 shares during the last quarter. 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.