Insider Selling: PCB Bancorp (NASDAQ:PCB) Director Sells 25,000 Shares of Stock

PCB Bancorp (NASDAQ:PCB) Director Daniel Cho sold 25,000 shares of PCB Bancorp stock in a transaction dated 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 in the company, valued at $1,810,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

PCB Bancorp Trading Down 1.1 %

PCB opened at $18.21 on Friday. The firm’s fifty day simple moving average is $17.80 and its 200 day simple moving average is $16.28. The stock has a market capitalization of $259.80 million, a P/E ratio of 10.41 and a beta of 0.67. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.13. PCB Bancorp has a 12 month low of $14.50 and a 12 month high of $20.22.

PCB Bancorp (NASDAQ:PCB) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. The company had revenue of $24.22 million during the quarter, compared to analysts’ expectations of $25.10 million. PCB Bancorp had a return on equity of 8.55% and a net margin of 13.37%. As a group, research analysts anticipate that PCB Bancorp will post 1.66 EPS for the current fiscal year.

PCB Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 9th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.72 annualized dividend and a dividend yield of 3.95%. PCB Bancorp’s dividend payout ratio is currently 41.14%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lifted their price objective on PCB Bancorp from $17.00 to $20.00 and gave the company a “market perform” rating in a report on Monday, July 29th.

Institutional Trading of PCB Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. New York State Common Retirement Fund increased its position in shares of 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 valued at $90,000 after acquiring an additional 2,400 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of PCB Bancorp by 51.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 22,391 shares of the company’s stock worth $366,000 after purchasing an additional 7,588 shares during the last quarter. Empowered Funds LLC raised its stake in shares of PCB Bancorp by 8.1% during the 1st quarter. Empowered Funds LLC now owns 46,074 shares of the company’s stock worth $752,000 after purchasing an additional 3,434 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of PCB Bancorp by 24.2% in the 2nd 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 last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of PCB Bancorp by 5.9% in the second 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. 33.04% of the stock is currently owned by institutional investors and hedge funds.

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.