Empowered Funds LLC Purchases New Position in PCB Bancorp $PCB

Empowered Funds LLC purchased a new position in PCB Bancorp (NASDAQ:PCB) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 80,427 shares of the company’s stock, valued at approximately $2,282,000.

Several other institutional investors and hedge funds have also bought and sold shares of PCB. Hillsdale Investment Management Inc. grew its holdings in shares of PCB Bancorp by 233.6% during the 4th quarter. Hillsdale Investment Management Inc. now owns 100,987 shares of the company’s stock worth $2,186,000 after acquiring an additional 70,717 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of PCB Bancorp in the 2nd quarter worth approximately $2,631,000. GSA Capital Partners LLP purchased a new position in shares of PCB Bancorp in the 2nd quarter valued at approximately $785,000. Dimensional Fund Advisors LP raised its holdings in PCB Bancorp by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 610,543 shares of the company’s stock worth $13,731,000 after purchasing an additional 21,325 shares in the last quarter. Finally, BlackRock Inc. purchased a new position in PCB Bancorp during the 2nd quarter valued at about $24,546,000. 33.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PCB has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of PCB Bancorp in a research note on Friday, August 7th. Keefe, Bruyette & Woods lifted their price objective on PCB Bancorp from $29.00 to $29.50 and gave the company a “market perform” rating in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $27.75.

PCB Bancorp Price Performance

Shares of NASDAQ:PCB opened at $27.78 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $390.31 million, a price-to-earnings ratio of 9.61 and a beta of 0.49. The business has a 50-day simple moving average of $28.33 and a two-hundred day simple moving average of $25.40. PCB Bancorp has a fifty-two week low of $19.70 and a fifty-two week high of $30.83.

PCB Bancorp (NASDAQ:PCB) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. PCB Bancorp had a net margin of 19.65% and a return on equity of 12.91%. The firm had revenue of $30.70 million for the quarter, compared to the consensus estimate of $31.10 million. On average, analysts expect that PCB Bancorp will post 2.94 earnings per share for the current year.

PCB Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.88 dividend on an annualized basis and a yield of 3.2%. PCB Bancorp’s dividend payout ratio is currently 30.45%.

About PCB Bancorp

PCB Bancorp is the bank holding company for Pacific City Bank, a California-chartered bank founded in 1999 and headquartered in Torrance, California. As the parent of an FDIC-insured institution, PCB Bancorp oversees a community-focused banking franchise that serves both retail customers and commercial enterprises. The company’s strategy emphasizes personalized service and deep market knowledge to meet the evolving needs of individuals, families and businesses in Southern California.

Through its subsidiary Pacific City Bank, PCB Bancorp offers a broad range of financial products and services, including deposit accounts, commercial real estate and construction lending, residential mortgages, trade finance, treasury management and wealth advisory solutions.