Maltese Capital Management LLC Has $2.09 Million Stock Position in PCB Bancorp $PCB

Maltese Capital Management LLC lessened its holdings in PCB Bancorp (NASDAQ:PCB) by 16.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,363 shares of the company’s stock after selling 19,364 shares during the quarter. Maltese Capital Management LLC owned 0.68% of PCB Bancorp worth $2,086,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its stake 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 worth $3,641,000 after purchasing an additional 88,589 shares in the last quarter. Hillsdale Investment Management Inc. raised its holdings in shares of PCB Bancorp by 233.6% in the 4th quarter. Hillsdale Investment Management Inc. now owns 100,987 shares of the company’s stock valued at $2,186,000 after purchasing an additional 70,717 shares during the period. Marshall Wace LLP acquired a new stake in shares of PCB Bancorp in the second quarter valued at approximately $837,000. Dimensional Fund Advisors LP lifted its holdings in PCB Bancorp by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 589,218 shares of the company’s stock valued at $12,756,000 after purchasing an additional 21,948 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of PCB Bancorp by 94.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 31,908 shares of the company’s stock valued at $670,000 after purchasing an additional 15,467 shares during the last quarter. Institutional investors own 33.04% of the company’s stock.

PCB Bancorp Trading Down 1.7%

Shares of PCB stock opened at $26.15 on Tuesday. PCB Bancorp has a fifty-two week low of $19.44 and a fifty-two week high of $26.77. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.07. The stock has a 50 day simple moving average of $24.42 and a two-hundred day simple moving average of $23.10. The company has a market cap of $372.11 million, a P/E ratio of 9.41 and a beta of 0.53.

PCB Bancorp (NASDAQ:PCB) last posted its quarterly 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. The firm had revenue of $30.18 million for the quarter, compared to analysts’ expectations of $31.10 million. PCB Bancorp had a return on equity of 12.70% and a net margin of 19.03%. Research analysts forecast that PCB Bancorp will post 2.95 earnings per share for the current year.

PCB Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Friday, May 8th. PCB Bancorp’s payout ratio is currently 31.65%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Weiss Ratings raised shares of PCB Bancorp from a “buy (b)” rating to a “buy (a-)” rating in a report on Monday, May 11th. 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 cut PCB Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Finally, Piper Sandler boosted their target price on shares of PCB Bancorp from $25.50 to $26.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $25.50.

PCB Bancorp Company Profile

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.