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PCB Bancorp (NASDAQ:PCB – Get Rating) 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 value of $70,400.00. Following the completion of the sale, the insider now directly owns 3,580 shares in the company, valued at approximately $71,600. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
PCB traded up $1.50 during trading on Friday, reaching $20.52. 234,799 shares of the stock traded hands, compared to its average volume of 68,118. The stock has a market cap of $306.67 million, a price-to-earnings ratio of 7.54 and a beta of 0.77. PCB Bancorp has a fifty-two week low of $15.04 and a fifty-two week high of $26.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.04 and a quick ratio of 1.03. The stock’s 50-day simple moving average is $21.29 and its two-hundred day simple moving average is $22.29.
PCB Bancorp (NASDAQ:PCB – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.08. PCB Bancorp had a return on equity of 16.65% and a net margin of 40.19%. Research analysts anticipate that PCB Bancorp will post 2.55 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 20th. Shareholders of record on Friday, May 13th were given a $0.15 dividend. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.92%. PCB Bancorp’s dividend payout ratio is currently 21.90%.
PCB has been the topic of several recent research reports. Zacks Investment Research raised PCB Bancorp from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Wednesday. Raymond James downgraded PCB Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 6th.
A number of large investors have recently made changes to their positions in the stock. Hillsdale Investment Management Inc. boosted its stake in PCB Bancorp by 33.3% during 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 period. Royal Bank of Canada raised its holdings in PCB Bancorp by 96.1% in the 2nd quarter. Royal Bank of Canada now owns 2,716 shares of the company’s stock valued at $43,000 after acquiring an additional 1,331 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in PCB Bancorp by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 75,241 shares of the company’s stock valued at $1,727,000 after acquiring an additional 1,398 shares in the last quarter. Lazard Asset Management LLC raised its holdings 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 acquiring an additional 1,513 shares in the last quarter. Finally, BHZ Capital Management LP raised its holdings in PCB Bancorp by 1.0% in the 1st quarter. BHZ Capital Management LP now owns 184,189 shares of the company’s stock valued at $4,227,000 after acquiring an additional 1,900 shares in the last quarter. Hedge funds and other institutional investors own 37.85% of the company’s stock.
About PCB Bancorp (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
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