Rhino Investment Partners Inc Sells 47,295 Shares of PCB Bancorp $PCB

Rhino Investment Partners Inc decreased its stake in shares of PCB Bancorp (NASDAQ:PCB) by 7.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 562,636 shares of the company’s stock after selling 47,295 shares during the quarter. PCB Bancorp makes up 2.6% of Rhino Investment Partners Inc’s portfolio, making the stock its 13th largest position. Rhino Investment Partners Inc owned 3.91% of PCB Bancorp worth $10,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in shares of PCB Bancorp by 71.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company’s stock valued at $32,000 after purchasing an additional 667 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of PCB Bancorp by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 6,404 shares of the company’s stock valued at $130,000 after buying an additional 1,395 shares in the last quarter. Deutsche Bank AG grew its position in shares of PCB Bancorp by 39.5% in the 4th quarter. Deutsche Bank AG now owns 7,283 shares of the company’s stock worth $147,000 after buying an additional 2,063 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of PCB Bancorp during the 4th quarter worth approximately $186,000. Finally, Bank of America Corp DE boosted its stake in PCB Bancorp by 40.3% in the fourth quarter. Bank of America Corp DE now owns 12,223 shares of the company’s stock valued at $247,000 after acquiring an additional 3,511 shares in the last quarter. 33.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Sang Young Lee acquired 18,200 shares of the company’s stock in a transaction on Tuesday, July 29th. The shares were bought at an average cost of $21.45 per share, with a total value of $390,390.00. Following the transaction, the director owned 1,569,210 shares in the company, valued at approximately $33,659,554.50. This trade represents a 1.17% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Don Rhee bought 10,000 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were acquired at an average cost of $20.13 per share, for a total transaction of $201,300.00. Following the transaction, the director directly owned 419,044 shares in the company, valued at approximately $8,435,355.72. This represents a 2.44% increase in their position. The disclosure for this purchase can be found here. 25.86% of the stock is currently owned by insiders.

PCB Bancorp Trading Up 0.5%

Shares of PCB Bancorp stock opened at $21.69 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.06. PCB Bancorp has a fifty-two week low of $16.00 and a fifty-two week high of $22.37. The firm has a 50-day simple moving average of $21.14 and a two-hundred day simple moving average of $19.90. The company has a market cap of $311.25 million, a P/E ratio of 10.18 and a beta of 0.61.

PCB Bancorp (NASDAQ:PCB) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. The company had revenue of $29.29 million for the quarter, compared to analysts’ expectations of $28.63 million. PCB Bancorp had a return on equity of 10.58% and a net margin of 15.82%. As a group, equities analysts predict that PCB Bancorp will post 2.04 earnings per share for the current fiscal year.

PCB Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, August 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.7%. PCB Bancorp’s dividend payout ratio is currently 37.56%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped their price target on PCB Bancorp from $23.00 to $23.50 and gave the stock a “market perform” rating in a research report on Monday, July 28th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, PCB Bancorp has a consensus rating of “Hold” and a consensus target price of $22.25.

PCB Bancorp 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.