PCB Bancorp (NASDAQ:PCB) Price Target Cut to $17.00 by Analysts at Piper Sandler

PCB Bancorp (NASDAQ:PCB) had its price objective trimmed by Piper Sandler from $18.00 to $17.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

PCB Bancorp Stock Performance

Shares of PCB opened at $15.22 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $217.04 million, a price-to-earnings ratio of 8.70 and a beta of 0.63. The company’s 50 day simple moving average is $15.73 and its 200 day simple moving average is $16.35. PCB Bancorp has a 1 year low of $12.86 and a 1 year high of $19.03.

PCB Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 10th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.73%. The ex-dividend date is Thursday, May 9th. PCB Bancorp’s payout ratio is 41.14%.

Insider Activity at PCB Bancorp

In other news, Director Sang Young Lee acquired 4,202 shares of PCB Bancorp stock in a transaction that occurred on Thursday, February 22nd. The shares were acquired at an average price of $15.95 per share, with a total value of $67,021.90. Following the completion of the purchase, the director now owns 1,451,269 shares of the company’s stock, valued at approximately $23,147,740.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have bought 15,509 shares of company stock valued at $247,400. Company insiders own 25.01% of the company’s stock.

Hedge Funds Weigh In On PCB Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC acquired a new position in PCB Bancorp during the third quarter worth approximately $186,000. SG Americas Securities LLC increased its position in PCB Bancorp by 10.9% during the fourth quarter. SG Americas Securities LLC now owns 10,147 shares of the company’s stock worth $187,000 after purchasing an additional 997 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of PCB Bancorp by 96.7% in the fourth quarter. New York State Common Retirement Fund now owns 4,882 shares of the company’s stock worth $90,000 after acquiring an additional 2,400 shares in the last quarter. Institutional investors and hedge funds own 33.04% of the company’s stock.

PCB Bancorp Company Profile

PCB Bancorp operates as the bank holding company for PCB 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 trade finance, remote deposit capture, courier deposit services, positive pay services, zero balance accounts, and sweep accounts.