Don Rhee Acquires 7,300 Shares of PCB Bancorp (NASDAQ:PCB) Stock

PCB Bancorp (NASDAQ:PCB) Director Don Rhee acquired 7,300 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was bought at an average cost of $21.22 per share, for a total transaction of $154,906.00. Following the purchase, the director now directly owns 399,144 shares of the company’s stock, valued at approximately $8,469,835.68. This trade represents a 1.86 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

PCB Bancorp Price Performance

PCB Bancorp stock opened at $21.60 on Wednesday. PCB Bancorp has a 1 year low of $14.50 and a 1 year high of $21.71. The firm’s 50 day moving average price is $19.42 and its 200-day moving average price is $17.84. The stock has a market cap of $308.23 million, a P/E ratio of 12.78 and a beta of 0.70.

PCB Bancorp (NASDAQ:PCB) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.07. The business had revenue of $48.62 million for the quarter, compared to analysts’ expectations of $25.50 million. PCB Bancorp had a return on equity of 8.68% and a net margin of 13.27%. As a group, equities analysts expect that PCB Bancorp will post 1.74 EPS for the current year.

PCB Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date was Friday, November 8th. PCB Bancorp’s payout ratio is presently 42.60%.

Analyst Ratings Changes

Separately, Piper Sandler lifted their price target on shares of PCB Bancorp from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, October 28th.

Hedge Funds Weigh In On PCB Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC lifted its stake in shares of PCB Bancorp by 299.2% during the third quarter. Barclays PLC now owns 14,096 shares of the company’s stock worth $265,000 after buying an additional 10,565 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of PCB Bancorp during the 3rd quarter valued at approximately $407,000. Charles Schwab Investment Management Inc. lifted its stake in shares of PCB Bancorp by 6.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 30,841 shares of the company’s stock valued at $580,000 after purchasing an additional 1,814 shares during the period. Empowered Funds LLC boosted its holdings in PCB Bancorp by 5.1% during the third quarter. Empowered Funds LLC now owns 52,040 shares of the company’s stock worth $978,000 after buying an additional 2,546 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in PCB Bancorp by 24.2% during the second quarter. Renaissance Technologies LLC now owns 52,401 shares of the company’s stock worth $853,000 after buying an additional 10,200 shares in the last quarter. Institutional investors 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.