Posted by admin on Aug 9th, 2022 
Russell Investments Group Ltd. reduced its position in PCB Bancorp (NASDAQ:PCB – Get Rating) by 5.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 292,733 shares of the company’s stock after selling 16,991 shares during the period. Russell Investments Group Ltd. owned about 1.96% of PCB Bancorp worth $6,715,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC lifted its stake in PCB Bancorp by 108.1% in the 4th quarter. Lazard Asset Management LLC now owns 2,913 shares of the company’s stock valued at $63,000 after purchasing an additional 1,513 shares during the last quarter. Hillsdale Investment Management Inc. lifted its stake in PCB Bancorp by 33.3% in the 4th quarter. Hillsdale Investment Management Inc. now owns 3,600 shares of the company’s stock valued at $79,000 after purchasing an additional 900 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in PCB Bancorp in the 4th quarter valued at about $214,000. Qube Research & Technologies Ltd acquired a new stake in PCB Bancorp in the 4th quarter valued at about $338,000. Finally, 683 Capital Management LLC acquired a new stake in PCB Bancorp in the 4th quarter valued at about $404,000. 37.85% of the stock is currently owned by institutional investors and hedge funds.
Separately, Piper Sandler cut their price objective on shares of PCB Bancorp to $21.50 in a research report on Monday, July 4th.
Shares of PCB stock opened at $19.76 on Tuesday. The firm has a 50 day moving average price of $19.20 and a two-hundred day moving average price of $21.12. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $295.31 million, a PE ratio of 7.32 and a beta of 0.76. PCB Bancorp has a 12-month low of $17.96 and a 12-month high of $26.04.
PCB Bancorp (NASDAQ:PCB – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). PCB Bancorp had a return on equity of 16.09% and a net margin of 39.13%. As a group, analysts predict that PCB Bancorp will post 2.67 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Friday, August 12th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 3.04%. PCB Bancorp’s dividend payout ratio is presently 22.22%.
In other PCB Bancorp news, Director Sang Young Lee bought 6,000 shares of the stock in a transaction dated Wednesday, June 1st. The shares were bought at an average cost of $19.68 per share, with a total value of $118,080.00. Following the completion of the acquisition, the director now owns 1,253,606 shares of the company’s stock, valued at $24,670,966.08. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other PCB Bancorp news, Director Sang Young Lee bought 6,000 shares of the stock in a transaction dated Wednesday, June 1st. The shares were bought at an average cost of $19.68 per share, with a total value of $118,080.00. Following the completion of the acquisition, the director now owns 1,253,606 shares of the company’s stock, valued at $24,670,966.08. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Justin Chon sold 3,520 shares of the firm’s stock in a transaction that occurred 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 directly owns 3,580 shares in the company, valued at $71,600. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 16,091 shares of company stock valued at $320,332. 24.05% of the stock is currently owned by company insiders.
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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.
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