PCB Bancorp (NASDAQ:PCB) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of PCB Bancorp (NASDAQ:PCB) from a buy rating to a hold rating in a report released on Saturday morning.

Several other equities research analysts have also issued reports on PCB. Weiss Ratings reaffirmed a “buy (b)” rating on shares of PCB Bancorp in a research note on Monday, December 29th. Zacks Research raised PCB Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.50.

PCB Bancorp Stock Up 2.8%

Shares of NASDAQ PCB opened at $22.24 on Friday. The firm’s 50-day moving average price is $22.44 and its 200-day moving average price is $21.87. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $316.48 million, a price-to-earnings ratio of 8.65 and a beta of 0.55. PCB Bancorp has a 12-month low of $16.00 and a 12-month high of $24.20.

PCB Bancorp (NASDAQ:PCB) last released its quarterly earnings results on Thursday, January 29th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.61 by $0.37. PCB Bancorp had a return on equity of 12.03% and a net margin of 17.89%.The company had revenue of $29.17 million during the quarter, compared to analyst estimates of $29.33 million. On average, equities research analysts anticipate that PCB Bancorp will post 2.04 EPS for the current fiscal year.

PCB Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 13th were given a $0.22 dividend. This is an increase from PCB Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.88 dividend on an annualized basis and a yield of 4.0%. PCB Bancorp’s dividend payout ratio is currently 34.24%.

Insider Transactions at PCB Bancorp

In other news, Director Sang Young Lee acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was acquired at an average price of $22.75 per share, with a total value of $45,500.00. Following the completion of the purchase, the director directly owned 1,592,961 shares in the company, valued at approximately $36,239,862.75. This trade represents a 0.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought a total of 10,119 shares of company stock valued at $227,820 over the last ninety days. 25.01% of the stock is owned by company insiders.

Institutional Investors Weigh In On PCB Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the business. Invesco Ltd. lifted its stake in shares of PCB Bancorp by 11.8% during the 4th quarter. Invesco Ltd. now owns 12,304 shares of the company’s stock worth $266,000 after acquiring an additional 1,300 shares during the last quarter. State of Tennessee Department of Treasury purchased a new position in PCB Bancorp during the 4th quarter valued at $151,000. Empowered Funds LLC grew its position in PCB Bancorp by 11.4% in the 4th quarter. Empowered Funds LLC now owns 76,882 shares of the company’s stock valued at $1,664,000 after acquiring an additional 7,855 shares during the last quarter. Man Group plc bought a new position in PCB Bancorp in the 4th quarter valued at $260,000. Finally, Bridgeway Capital Management LLC increased its stake in PCB Bancorp by 5.0% in the fourth quarter. Bridgeway Capital Management LLC now owns 154,411 shares of the company’s stock worth $3,343,000 after purchasing an additional 7,284 shares during the period. 33.04% of the stock is currently owned by hedge funds and other institutional investors.

About PCB Bancorp

PCB Bancorp is the bank holding company for Pacific City Bank, a California-chartered bank founded in 1999 and headquartered in Torrance, California. As the parent of an FDIC-insured institution, PCB Bancorp oversees a community-focused banking franchise that serves both retail customers and commercial enterprises. The company’s strategy emphasizes personalized service and deep market knowledge to meet the evolving needs of individuals, families and businesses in Southern California.

Through its subsidiary Pacific City Bank, PCB Bancorp offers a broad range of financial products and services, including deposit accounts, commercial real estate and construction lending, residential mortgages, trade finance, treasury management and wealth advisory solutions.