PCB Bancorp (NASDAQ:PCB) Price Target Raised to $20.00

PCB Bancorp (NASDAQ:PCB) had its price target increased by stock analysts at Keefe, Bruyette & Woods from $17.00 to $20.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target would suggest a potential downside of 1.04% from the stock’s current price.

Separately, Piper Sandler cut their price target on PCB Bancorp from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, April 29th.

PCB Bancorp Price Performance

Shares of NASDAQ PCB traded up $0.41 during midday trading on Monday, reaching $20.21. 55,114 shares of the company traded hands, compared to its average volume of 20,355. The firm has a market cap of $343.97 million, a PE ratio of 11.55 and a beta of 0.67. The stock’s 50-day simple moving average is $15.79 and its 200-day simple moving average is $15.96. PCB Bancorp has a 12 month low of $14.50 and a 12 month high of $20.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.08 and a current ratio of 1.08.

PCB Bancorp (NASDAQ:PCB) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.12). PCB Bancorp had a net margin of 13.37% and a return on equity of 8.60%. The company had revenue of $23.94 million for the quarter, compared to the consensus estimate of $25.15 million. As a group, equities analysts anticipate that PCB Bancorp will post 1.58 earnings per share for the current fiscal year.

Insider Activity at PCB Bancorp

In other PCB Bancorp news, Director Sang Young Lee purchased 2,702 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was acquired at an average cost of $15.21 per share, with a total value of $41,097.42. Following the completion of the acquisition, the director now directly owns 1,488,407 shares of the company’s stock, valued at approximately $22,638,670.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired 16,749 shares of company stock valued at $251,383 over the last ninety days. 25.01% of the stock is owned by insiders.

Institutional Trading of PCB Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund increased its position in 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 purchasing an additional 2,400 shares during the period. SG Americas Securities LLC grew its position in shares of PCB Bancorp by 10.9% during the 4th quarter. SG Americas Securities LLC now owns 10,147 shares of the company’s stock worth $187,000 after buying an additional 997 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of PCB Bancorp by 51.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 22,391 shares of the company’s stock valued at $366,000 after acquiring an additional 7,588 shares during the last quarter. Empowered Funds LLC increased its stake in shares of PCB Bancorp by 8.1% in the 1st quarter. Empowered Funds LLC now owns 46,074 shares of the company’s stock valued at $752,000 after acquiring an additional 3,434 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of PCB Bancorp by 5.9% in 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 acquiring an additional 4,242 shares during the last quarter. 33.04% of the stock is currently owned by institutional investors and hedge funds.

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.