Short Interest in PCB Bancorp (NASDAQ:PCB) Drops By 17.9%

PCB Bancorp (NASDAQ:PCB) was the target of a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 132,011 shares, a drop of 17.9% from the February 12th total of 160,837 shares. Based on an average trading volume of 25,430 shares, the short-interest ratio is presently 5.2 days. Approximately 1.2% of the shares of the company are short sold. Approximately 1.2% of the shares of the company are short sold. Based on an average trading volume of 25,430 shares, the short-interest ratio is presently 5.2 days.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PCB shares. Zacks Research upgraded shares of PCB Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of PCB Bancorp in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, PCB Bancorp presently has an average rating of “Moderate Buy” and an average target price of $24.50.

Insiders Place Their Bets

In other news, Director Sang Young Lee bought 2,000 shares of PCB Bancorp stock in a transaction on Wednesday, March 4th. The stock was purchased at an average cost of $22.75 per share, with a total value of $45,500.00. Following the purchase, the director directly owned 1,592,961 shares of the company’s stock, valued at approximately $36,239,862.75. This trade represents a 0.13% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have bought 10,119 shares of company stock valued at $227,820. Company insiders own 25.01% of the company’s stock.

Institutional Investors Weigh In On PCB Bancorp

A number of institutional investors have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co boosted its stake in PCB Bancorp by 45.6% during the 4th 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. Russell Investments Group Ltd. raised its stake in shares of PCB Bancorp by 3,769.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,780 shares of the company’s stock worth $37,000 after buying an additional 1,734 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of PCB Bancorp by 88.2% in the 2nd 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. PNC Financial Services Group Inc. lifted its holdings in shares of PCB Bancorp by 1,033.5% in the second quarter. PNC Financial Services Group Inc. now owns 3,151 shares of the company’s stock valued at $66,000 after buying an additional 2,873 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in PCB Bancorp by 273.4% during the third quarter. BNP Paribas Financial Markets now owns 3,939 shares of the company’s stock valued at $83,000 after buying an additional 2,884 shares in the last quarter. 33.04% of the stock is currently owned by institutional investors and hedge funds.

PCB Bancorp Trading Up 1.0%

PCB stock traded up $0.21 during trading on Monday, hitting $21.86. The company had a trading volume of 11,839 shares, compared to its average volume of 22,377. The business has a 50 day moving average of $22.44 and a 200 day moving average of $21.88. The firm has a market capitalization of $311.72 million, a price-to-earnings ratio of 8.51 and a beta of 0.55. PCB Bancorp has a fifty-two week low of $16.00 and a fifty-two week high of $24.20.

PCB Bancorp (NASDAQ:PCB) last released its earnings results on Thursday, January 29th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.61 by $0.37. PCB Bancorp had a net margin of 17.89% and a return on equity of 12.15%. The firm had revenue of $29.17 million for the quarter, compared to analysts’ expectations of $29.33 million. As a group, equities analysts predict that PCB Bancorp will post 2.04 EPS for the current year.

PCB Bancorp Increases Dividend

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

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.