PCB Bancorp (NASDAQ:PCB) Downgraded to Hold Rating by Wall Street Zen
by Mitch Edgeman · The Markets DailyWall Street Zen cut shares of PCB Bancorp (NASDAQ:PCB – Free Report) from a buy rating to a hold rating in a report published on Saturday.
A number of other research analysts have also recently weighed in on PCB. Zacks Research raised shares of PCB Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of PCB Bancorp in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, PCB Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.50.
PCB Bancorp Stock Performance
Shares of NASDAQ:PCB opened at $21.64 on Friday. The business has a 50-day moving average of $22.43 and a two-hundred day moving average of $21.87. The firm has a market capitalization of $307.94 million, a PE ratio of 8.42 and a beta of 0.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.06 and a quick ratio of 1.05. PCB Bancorp has a 12 month low of $16.00 and a 12 month high of $24.20.
PCB Bancorp (NASDAQ:PCB – Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.37. The business had revenue of $29.17 million for the quarter, compared to analyst estimates of $29.33 million. PCB Bancorp had a return on equity of 12.03% and a net margin of 17.89%. As a group, research analysts forecast that PCB Bancorp will post 2.04 earnings per share for the current year.
PCB Bancorp Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 13th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Friday, February 13th. This is an increase from PCB Bancorp’s previous quarterly dividend of $0.20. PCB Bancorp’s dividend payout ratio (DPR) is 34.24%.
Insider Buying and Selling
In related news, Director Sang Young Lee purchased 5,000 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was purchased at an average price of $22.48 per share, for a total transaction of $112,400.00. Following the acquisition, the director directly owned 1,587,842 shares in the company, valued at $35,694,688.16. The trade was a 0.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders purchased 10,119 shares of company stock worth $227,820. Insiders own 25.86% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in PCB. Segall Bryant & Hamill LLC purchased a new position in shares of PCB Bancorp in the second quarter valued at $1,977,000. Goldman Sachs Group Inc. lifted its holdings in PCB Bancorp by 83.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 194,598 shares of the company’s stock worth $3,641,000 after buying an additional 88,589 shares in the last quarter. Hillsdale Investment Management Inc. lifted its holdings in PCB Bancorp by 233.6% in the 4th quarter. Hillsdale Investment Management Inc. now owns 100,987 shares of the company’s stock worth $2,186,000 after buying an additional 70,717 shares in the last quarter. EJF Capital LLC purchased a new position in PCB Bancorp in the 2nd quarter valued at about $839,000. Finally, Marshall Wace LLP purchased a new position in PCB Bancorp in the 2nd quarter valued at about $837,000. 33.04% of the stock is owned by institutional investors and hedge funds.
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.