Insider Buying: PCB Bancorp (NASDAQ:PCB) Director Purchases $89,089.12 in Stock

PCB Bancorp (NASDAQ:PCB) Director Sang Young Lee acquired 4,504 shares of PCB Bancorp stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average price of $19.78 per share, with a total value of $89,089.12. Following the purchase, the director now owns 1,530,711 shares in the company, valued at $30,277,463.58. This represents a 0.30 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sang Young Lee also recently made the following trade(s):

• On Monday, November 25th, Sang Young Lee purchased 8,200 shares of PCB Bancorp stock. The stock was purchased at an average cost of $21.46 per share, for a total transaction of $175,972.00.
• On Monday, November 18th, Sang Young Lee acquired 8,174 shares of PCB Bancorp stock. The shares were acquired at an average price of $20.74 per share, with a total value of $169,528.76.
• On Friday, November 15th, Sang Young Lee bought 1,000 shares of PCB Bancorp stock. The shares were acquired at an average price of $20.60 per share, for a total transaction of $20,600.00.

PCB Bancorp Price Performance

Shares of PCB opened at $20.15 on Friday. The company’s fifty day moving average price is $19.98 and its 200-day moving average price is $19.40. PCB Bancorp has a 1-year low of $14.50 and a 1-year high of $22.20. The firm has a market capitalization of $287.54 million, a PE ratio of 11.58 and a beta of 0.70.

PCB Bancorp (NASDAQ:PCB) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. PCB Bancorp had a return on equity of 9.02% and a net margin of 13.45%. As a group, research analysts anticipate that PCB Bancorp will post 2.04 EPS for the current fiscal year.

PCB Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 14th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.97%. The ex-dividend date is Friday, February 14th. This is an increase from PCB Bancorp’s previous quarterly dividend of $0.18. PCB Bancorp’s dividend payout ratio is 41.38%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Piper Sandler raised their price target on PCB Bancorp from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Keefe, Bruyette & Woods increased their price objective on shares of PCB Bancorp from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Hedge Funds Weigh In On PCB Bancorp

A number of institutional investors have recently bought and sold shares of the business. Rhino Investment Partners Inc boosted its holdings in shares of PCB Bancorp by 50.9% in the 4th quarter. Rhino Investment Partners Inc now owns 609,931 shares of the company’s stock valued at $12,345,000 after acquiring an additional 205,668 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in PCB Bancorp by 4.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 511,588 shares of the company’s stock valued at $10,355,000 after purchasing an additional 23,925 shares during the period. Geode Capital Management LLC boosted its holdings in PCB Bancorp by 0.7% in the third quarter. Geode Capital Management LLC now owns 255,959 shares of the company’s stock valued at $4,810,000 after purchasing an additional 1,751 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in PCB Bancorp by 83.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 84,601 shares of the company’s stock worth $1,712,000 after purchasing an additional 38,371 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of PCB Bancorp by 19.8% during the 4th quarter. Bank of New York Mellon Corp now owns 82,023 shares of the company’s stock valued at $1,660,000 after buying an additional 13,529 shares during the last quarter. 33.04% of the stock is owned by hedge funds and other institutional investors.

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.