PCB Bancorp (NASDAQ:PCB) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of PCB Bancorp (NASDAQ:PCB) from a buy rating to a hold rating in a research note released on Tuesday, Zacks.com reports.

According to Zacks, “PCB Bancorp is a bank holding company which, through its subsidiaries, offers savings accounts, debit and credit cards, personal and business loans, cash management, certificate of deposits, online banking, mortgages, wealth management and e-statements. PCB Bancorp, formerly known as Pacific City Financial Corp, is based in Los Angeles, United States. “

Separately, Raymond James increased their price objective on PCB Bancorp from $21.00 to $24.00 and gave the company an outperform rating in a report on Monday, November 1st.

PCB stock opened at $24.34 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.05 and a quick ratio of 1.04. The firm has a market capitalization of $361.25 million, a P/E ratio of 10.58 and a beta of 0.85. The business’s 50-day moving average is $22.36 and its two-hundred day moving average is $20.11. PCB Bancorp has a 1 year low of $10.34 and a 1 year high of $24.40.

PCB Bancorp (NASDAQ:PCB) last posted its quarterly earnings results on Wednesday, October 27th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.14. PCB Bancorp had a return on equity of 14.66% and a net margin of 35.89%. The company had revenue of $25.82 million for the quarter, compared to analyst estimates of $24.70 million. On average, analysts expect that PCB Bancorp will post 2.58 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 19th. Stockholders of record on Friday, November 12th were issued a $0.12 dividend. The ex-dividend date was Wednesday, November 10th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.97%. PCB Bancorp’s payout ratio is currently 20.87%.

In other news, Director Sang Young Lee purchased 10,300 shares of the company’s stock in a transaction that occurred on Friday, November 26th. The shares were purchased at an average price of $22.09 per share, for a total transaction of $227,527.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders bought 24,819 shares of company stock worth $552,330. Company insiders own 22.54% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its stake in shares of 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 purchasing an additional 1,331 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of PCB Bancorp in the 2nd quarter valued at approximately $214,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of PCB Bancorp in the 2nd quarter valued at approximately $216,000. Citadel Advisors LLC acquired a new stake in shares of PCB Bancorp in the 2nd quarter valued at approximately $251,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of PCB Bancorp in the 2nd quarter valued at approximately $267,000. Hedge funds and other institutional investors own 37.38% of the company’s stock.

PCB Bancorp Company Profile

PCB Bancorp operates as the bank holding company for Pacific City Bank that provides various banking products and services to individuals, and small and middle market businesses in Southern California. The firm 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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