PCB Bancorp (NASDAQ:PCB) Price Target Raised to $29.50

PCB Bancorp (NASDAQ:PCB) had its target price boosted by Keefe, Bruyette & Woods from $29.00 to $29.50 in a research note issued to investors on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Several other research analysts have also commented on the company. Zacks Research lowered PCB Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Weiss Ratings raised shares of PCB Bancorp from a “buy (b)” rating to a “buy (a-)” rating in a report on Monday, May 11th. Finally, Piper Sandler upped their price target on shares of PCB Bancorp from $25.50 to $26.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $27.75.

PCB Bancorp Price Performance

Shares of PCB opened at $28.02 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.07 and a quick ratio of 1.06. PCB Bancorp has a 1-year low of $19.70 and a 1-year high of $30.83. The stock has a market cap of $398.72 million, a PE ratio of 9.70 and a beta of 0.50. The firm has a fifty day moving average price of $27.19 and a 200 day moving average price of $24.46.

PCB Bancorp (NASDAQ:PCB) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.03. PCB Bancorp had a return on equity of 13.01% and a net margin of 19.65%.The company had revenue of $30.70 million for the quarter, compared to analyst estimates of $31.10 million. As a group, sell-side analysts anticipate that PCB Bancorp will post 2.94 EPS for the current year.

PCB Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, August 7th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.88 annualized dividend and a yield of 3.1%. PCB Bancorp’s payout ratio is currently 30.45%.

Institutional Investors Weigh In On PCB Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co lifted its holdings in shares of PCB Bancorp by 45.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,447 shares of the company’s stock valued at $31,000 after purchasing an additional 453 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of PCB Bancorp by 5.7% during the first quarter. Bank of America Corp DE now owns 10,659 shares of the company’s stock valued at $240,000 after acquiring an additional 571 shares during the last quarter. Rhumbline Advisers lifted its holdings in PCB Bancorp by 4.9% in the 2nd quarter. Rhumbline Advisers now owns 16,056 shares of the company’s stock valued at $337,000 after purchasing an additional 750 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of PCB Bancorp by 88.2% during the second quarter. Tower Research Capital LLC TRC now owns 1,916 shares of the company’s stock worth $40,000 after buying an additional 898 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of PCB Bancorp by 60.2% during the third quarter. Russell Investments Group Ltd. now owns 2,852 shares of the company’s stock valued at $60,000 after buying an additional 1,072 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.