PCB Bancorp (NASDAQ:PCB) Short Interest Update

PCB Bancorp (NASDAQ:PCB) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 38,100 shares, an increase of 22.1% from the February 28th total of 31,200 shares. Based on an average trading volume of 24,900 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.3% of the company’s stock are short sold.

Analyst Ratings Changes

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

Insider Transactions at PCB Bancorp

In related news, Director Sang Young Lee bought 4,504 shares of the stock in a transaction dated Thursday, February 13th. The stock was acquired at an average price of $19.78 per share, for a total transaction of $89,089.12. Following the acquisition, the director now owns 1,530,711 shares in the company, valued at approximately $30,277,463.58. This represents a 0.30 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 25.01% of the company’s stock.

Hedge Funds Weigh In On PCB Bancorp

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

PCB Bancorp Stock Performance

NASDAQ PCB traded down $1.11 during trading on Thursday, reaching $17.46. The company’s stock had a trading volume of 3,548 shares, compared to its average volume of 24,247. The business’s fifty day moving average price is $19.30 and its 200-day moving average price is $19.57. PCB Bancorp has a twelve month low of $14.50 and a twelve month high of $22.20. The firm has a market cap of $251.02 million, a price-to-earnings ratio of 10.03 and a beta of 0.65.

PCB Bancorp (NASDAQ:PCB) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. PCB Bancorp had a return on equity of 9.02% and a net margin of 13.45%. As a group, sell-side analysts forecast that PCB Bancorp will post 2.04 EPS for the current fiscal year.

PCB Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, February 14th. This is an increase from PCB Bancorp’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 4.58%. PCB Bancorp’s dividend payout ratio (DPR) is currently 45.98%.

About PCB Bancorp

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.