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PCB Bancorp (NASDAQ:PCB – Get Rating) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totalling 305,000 shares, an increase of 70.2% from the June 15th total of 179,200 shares. Based on an average trading volume of 99,500 shares, the days-to-cover ratio is currently 3.1 days. Currently, 2.5% of the company’s stock are short sold.
PCB Bancorp Stock Up 2.9 %
Shares of PCB stock traded up $0.53 on Friday, hitting $18.69. The stock had a trading volume of 53,918 shares, compared to its average volume of 136,943. The business has a 50 day moving average of $19.37 and a 200 day moving average of $21.55. The stock has a market cap of $279.23 million, a price-to-earnings ratio of 6.82 and a beta of 0.78. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.04 and a quick ratio of 1.03. PCB Bancorp has a 12-month low of $15.73 and a 12-month high of $26.04.
PCB Bancorp (NASDAQ:PCB – Get Rating) last posted its quarterly earnings data on Thursday, April 28th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. PCB Bancorp had a net margin of 40.19% and a return on equity of 16.65%. The business had revenue of $25.28 million during the quarter, compared to the consensus estimate of $24.65 million. As a group, analysts expect that PCB Bancorp will post 2.57 EPS for the current year.
PCB Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 20th. Investors of record on Friday, May 13th were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, May 12th. This represents a $0.60 dividend on an annualized basis and a yield of 3.21%. PCB Bancorp’s dividend payout ratio (DPR) is presently 21.90%.
Insider Buying and Selling
In related news, Director Sang Young Lee bought 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 1st. The shares were acquired at an average cost of $19.68 per share, with a total value of $118,080.00. Following the completion of the purchase, the director now directly owns 1,253,606 shares in the company, valued at $24,670,966.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Sang Young Lee bought 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 1st. The shares were acquired at an average cost of $19.68 per share, with a total value of $118,080.00. Following the completion of the purchase, the director now directly owns 1,253,606 shares in the company, valued at $24,670,966.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Justin Chon sold 3,520 shares of the company’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $20.00, for a total transaction of $70,400.00. Following the transaction, the insider now owns 3,580 shares in the company, valued at approximately $71,600. The disclosure for this sale can be found here. Insiders have purchased a total of 16,091 shares of company stock valued at $320,332 over the last ninety days. 24.05% of the stock is owned by corporate insiders.
Institutional Trading of PCB Bancorp
A number of large investors have recently added to or reduced their stakes in the stock. Maltese Capital Management LLC boosted its position in PCB Bancorp by 3.4% during the fourth quarter. Maltese Capital Management LLC now owns 104,100 shares of the company’s stock worth $2,286,000 after purchasing an additional 3,466 shares during the period. LSV Asset Management boosted its position in PCB Bancorp by 110.4% during the fourth quarter. LSV Asset Management now owns 220,505 shares of the company’s stock worth $4,842,000 after purchasing an additional 115,705 shares during the period. Cornercap Investment Counsel Inc. bought a new position in PCB Bancorp during the first quarter worth about $559,000. 683 Capital Management LLC bought a new position in PCB Bancorp during the fourth quarter worth about $404,000. Finally, Qube Research & Technologies Ltd bought a new position in PCB Bancorp during the fourth quarter worth about $338,000. Hedge funds and other institutional investors own 37.85% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on PCB shares. Piper Sandler lowered their price objective on shares of PCB Bancorp to $21.50 in a report on Monday, July 4th. Raymond James downgraded shares of PCB Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 6th.
PCB Bancorp Company Profile
(Get Rating)
PCB Bancorp operates as the bank holding company for Pacific City 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 remote deposit capture, courier deposit services, positive pay services, zero balance accounts, and sweep accounts.
Further Reading
- Get a free copy of the StockNews.com research report on PCB Bancorp (PCB)
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