PCB Bancorp (NASDAQ:PCB) Sees Large Drop in Short Interest

PCB Bancorp (NASDAQ:PCB) was the target of a significant decrease in short interest in the month of February. As of February 15th, there was short interest totalling 32,000 shares, a decrease of 20.2% from the January 31st total of 40,100 shares. Based on an average daily trading volume, of 26,800 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.3% of the shares of the stock are short sold.

PCB Bancorp Trading Down 1.7 %

Shares of PCB Bancorp stock traded down $0.33 on Tuesday, reaching $19.10. 17,956 shares of the company were exchanged, compared to its average volume of 24,667. The stock has a fifty day moving average price of $19.63 and a 200-day moving average price of $19.55. The firm has a market capitalization of $272.50 million, a price-to-earnings ratio of 10.98 and a beta of 0.70. PCB Bancorp has a fifty-two week low of $14.50 and a fifty-two week high of $22.20.

PCB Bancorp (NASDAQ:PCB) last announced its earnings results on Thursday, January 30th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. PCB Bancorp had a return on equity of 9.02% and a net margin of 13.45%. On average, equities analysts anticipate that PCB Bancorp will post 2.04 earnings per share for the current fiscal year.

PCB Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.19%. This is a positive change from PCB Bancorp’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, February 14th. PCB Bancorp’s payout ratio is presently 45.98%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods boosted their target price on PCB Bancorp from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Insider Activity

In related news, Director Sang Young Lee bought 4,504 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were bought at an average cost of $19.78 per share, with a total value of $89,089.12. Following the completion of the transaction, the director now directly owns 1,530,711 shares of the company’s stock, valued at approximately $30,277,463.58. This trade represents a 0.30 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 25.01% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PCB. Tower Research Capital LLC TRC raised its position in PCB Bancorp by 71.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company’s stock valued at $32,000 after buying an additional 667 shares during the period. Wells Fargo & Company MN increased its position in PCB Bancorp by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 6,404 shares of the company’s stock worth $130,000 after purchasing an additional 1,395 shares during the last quarter. Deutsche Bank AG increased its position in PCB Bancorp by 39.5% in the 4th quarter. Deutsche Bank AG now owns 7,283 shares of the company’s stock worth $147,000 after purchasing an additional 2,063 shares during the last quarter. Lazard Asset Management LLC acquired a new position in PCB Bancorp in the 4th quarter worth about $186,000. Finally, Diversify Advisory Services LLC acquired a new position in PCB Bancorp in the 4th quarter worth about $214,000. 33.04% of the stock is owned by institutional investors and hedge funds.

PCB Bancorp Company Profile

PCB Bancorp operates as the bank holding company for PCB Bank that provides various banking products and services to small to medium-sized businesses, individuals, and professionals in Southern California. The company offers demand, savings, money market, and time deposits, as well as certificates of deposit; and trade finance, remote deposit capture, courier deposit services, positive pay services, zero balance accounts, and sweep accounts.