PCB Bancorp (NASDAQ:PCB) Releases Quarterly Earnings Results, Meets Expectations

PCB Bancorp (NASDAQ:PCB) posted its quarterly earnings data on Thursday. The company reported $0.46 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.46, Zacks reports. PCB Bancorp had a return on equity of 8.68% and a net margin of 13.27%.

PCB Bancorp Stock Performance

NASDAQ:PCB traded up $0.07 during midday trading on Thursday, reaching $19.05. 20,378 shares of the stock traded hands, compared to its average volume of 20,099. The business has a 50-day moving average of $20.30 and a two-hundred day moving average of $19.26. PCB Bancorp has a 12-month low of $14.50 and a 12-month high of $22.20. The stock has a market capitalization of $271.79 million, a PE ratio of 11.27 and a beta of 0.71.

Wall Street Analysts Forecast Growth

PCB has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of PCB Bancorp from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler raised their target price on shares of PCB Bancorp from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th.

Insider Transactions at PCB Bancorp

In other news, Director Sang Young Lee bought 8,200 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average cost of $21.46 per share, with a total value of $175,972.00. Following the transaction, the director now directly owns 1,526,207 shares in the company, valued at approximately $32,752,402.22. The trade was a 0.54 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Henry Kim bought 3,700 shares of PCB Bancorp stock in a transaction that occurred on Wednesday, November 6th. The stock was purchased at an average price of $20.35 per share, with a total value of $75,295.00. Following the purchase, the chief executive officer now directly owns 24,713 shares in the company, valued at $502,909.55. The trade was a 17.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 31,374 shares of company stock valued at $660,622. Corporate insiders own 25.01% 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.