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

PCB Bancorp (NASDAQ:PCB) Director Don Rhee acquired 7,300 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were acquired 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 $8,469,835.68. This represents a 1.86 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

PCB Bancorp Trading Down 0.8 %

PCB stock traded down $0.17 on Monday, hitting $21.32. The company had a trading volume of 20,913 shares, compared to its average volume of 24,002. PCB Bancorp has a 12-month low of $14.50 and a 12-month high of $21.62. The stock has a market cap of $304.17 million, a price-to-earnings ratio of 12.76 and a beta of 0.67. The stock’s 50-day simple moving average is $19.37 and its 200 day simple moving average is $17.80.

PCB Bancorp (NASDAQ:PCB) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. The business had revenue of $48.62 million during 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%. Research analysts forecast that PCB Bancorp will post 1.74 earnings per share for the current year.

PCB Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a dividend of $0.18 per share. The ex-dividend date was Friday, November 8th. This represents a $0.72 annualized dividend and a dividend yield of 3.38%. PCB Bancorp’s dividend payout ratio (DPR) is 42.60%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PCB. Connor Clark & Lunn Investment Management Ltd. bought a new stake in PCB Bancorp during the 3rd quarter valued at $407,000. Bank of New York Mellon Corp increased its position in PCB Bancorp by 5.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 75,933 shares of the company’s stock valued at $1,236,000 after buying an additional 4,242 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of PCB Bancorp by 5.1% during the third quarter. Empowered Funds LLC now owns 52,040 shares of the company’s stock valued at $978,000 after acquiring an additional 2,546 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of PCB Bancorp by 0.6% in the first quarter. Vanguard Group Inc. now owns 656,732 shares of the company’s stock worth $10,724,000 after buying an additional 4,152 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in PCB Bancorp by 24.2% in the 2nd quarter. Renaissance Technologies LLC now owns 52,401 shares of the company’s stock worth $853,000 after acquiring an additional 10,200 shares during the last quarter. Institutional investors own 33.04% of the company’s stock.

Analyst Ratings Changes

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

About PCB Bancorp

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.