PCB Bancorp (NASDAQ:PCB) Price Target Raised to $23.00 at Keefe, Bruyette & Woods

PCB Bancorp (NASDAQ:PCB) had its price target hoisted by analysts at Keefe, Bruyette & Woods from $20.00 to $23.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 6.33% from the stock’s current price.

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

PCB Bancorp Trading Up 0.1 %

PCB stock traded up $0.03 during midday trading on Wednesday, hitting $21.63. 13,692 shares of the company’s stock were exchanged, compared to its average volume of 23,998. PCB Bancorp has a 12-month low of $14.50 and a 12-month high of $21.91. The firm has a 50 day moving average price of $19.42 and a 200-day moving average price of $17.84. The stock has a market capitalization of $308.66 million, a price-to-earnings ratio of 12.80 and a beta of 0.70.

PCB Bancorp (NASDAQ:PCB) last posted 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. PCB Bancorp had a return on equity of 8.68% and a net margin of 13.27%. The company had revenue of $48.62 million for the quarter, compared to the consensus estimate of $25.50 million. On average, sell-side analysts forecast that PCB Bancorp will post 1.74 EPS for the current fiscal year.

Insider Activity at PCB Bancorp

In other PCB Bancorp news, Director Don Rhee purchased 7,300 shares of PCB Bancorp stock in a transaction on Friday, November 29th. The stock was bought at an average price of $21.22 per share, for a total transaction of $154,906.00. Following the transaction, the director now owns 399,144 shares of the company’s stock, valued at $8,469,835.68. The trade was a 1.86 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel Cho sold 25,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $18.47, for a total value of $461,750.00. Following the transaction, the director now owns 98,000 shares of the company’s stock, valued at $1,810,060. This trade represents a 20.33 % decrease in their position. The disclosure for this sale can be found here. Insiders purchased 31,374 shares of company stock worth $660,622 in the last 90 days. 25.01% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC lifted its holdings in shares of PCB Bancorp by 299.2% in the third quarter. Barclays PLC now owns 14,096 shares of the company’s stock valued at $265,000 after buying an additional 10,565 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of PCB Bancorp in the third quarter valued at $407,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of PCB Bancorp by 6.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 30,841 shares of the company’s stock valued at $580,000 after buying an additional 1,814 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of PCB Bancorp by 24.2% in the second quarter. Renaissance Technologies LLC now owns 52,401 shares of the company’s stock valued at $853,000 after buying an additional 10,200 shares during the period. Finally, Empowered Funds LLC lifted its holdings in shares of PCB Bancorp by 5.1% in the third quarter. Empowered Funds LLC now owns 52,040 shares of the company’s stock valued at $978,000 after buying an additional 2,546 shares during the period. Institutional investors and hedge funds own 33.04% of the company’s stock.

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.