Hillsdale Investment Management Inc. Buys 70,717 Shares of PCB Bancorp $PCB

Hillsdale Investment Management Inc. grew its stake in shares of PCB Bancorp (NASDAQ:PCB) by 233.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 100,987 shares of the company’s stock after acquiring an additional 70,717 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in PCB Bancorp were worth $2,186,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of PCB. Goldman Sachs Group Inc. lifted its position in shares of PCB Bancorp by 83.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 194,598 shares of the company’s stock valued at $3,641,000 after acquiring an additional 88,589 shares during the period. Marshall Wace LLP bought a new stake in shares of PCB Bancorp during the 2nd quarter worth $837,000. Jacobs Levy Equity Management Inc. lifted its position in shares of PCB Bancorp by 94.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 31,908 shares of the company’s stock worth $670,000 after buying an additional 15,467 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of PCB Bancorp by 15.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 111,596 shares of the company’s stock worth $2,341,000 after buying an additional 14,671 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of PCB Bancorp during the 1st quarter worth $272,000. 33.04% of the stock is currently owned by institutional investors.

Insider Transactions at PCB Bancorp

In other news, Director Sang Young Lee bought 2,000 shares of the 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 acquisition, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 27.00% of the stock is currently owned by insiders.

PCB Bancorp Price Performance

Shares of PCB opened at $24.57 on Monday. PCB Bancorp has a 12-month low of $18.78 and a 12-month high of $25.15. The business has a 50-day simple moving average of $23.75 and a two-hundred day simple moving average of $22.80. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.15. The stock has a market cap of $349.63 million, a PE ratio of 8.84 and a beta of 0.53.

PCB Bancorp (NASDAQ:PCB) last issued its earnings results on Thursday, April 23rd. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. PCB Bancorp had a return on equity of 12.70% and a net margin of 19.03%.The business had revenue of $30.18 million during the quarter, compared to analysts’ expectations of $31.10 million. Analysts anticipate that PCB Bancorp will post 2.95 earnings per share for the current fiscal year.

PCB Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Friday, May 8th. PCB Bancorp’s dividend payout ratio is presently 31.65%.

Analysts Set New Price Targets

Several brokerages recently weighed in on PCB. Zacks Research downgraded PCB Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Wall Street Zen downgraded PCB Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Weiss Ratings upgraded PCB Bancorp from a “buy (b)” rating to a “buy (a-)” rating in a research report on Monday, May 11th. Finally, Piper Sandler upped their price objective on PCB Bancorp from $25.50 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.50.

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.