PCB Bancorp (NASDAQ:PCB) Raised to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded PCB Bancorp from “hold” to “strong buy.” Other analyst ratings leave the stock with a consensus “buy” rating and an average price target of $27.75.
• PCB Bancorp reported quarterly EPS of $0.85, beating the $0.73 consensus estimate, and revenue of $32.39 million versus expectations of $31.93 million.
• Shares opened up 2.3% at $30.62 on Monday; institutional investors own 33.04% of the company’s stock.

PCB Bancorp (NASDAQ:PCB - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Monday, Zacks reports.

A number of other analysts have also commented on the stock. Weiss Ratings restated a "buy (a-)" rating on shares of PCB Bancorp in a research note on Friday, August 7th. Keefe, Bruyette & Woods increased their price target on PCB Bancorp from $29.00 to $29.50 and gave the company a "market perform" rating in a research report on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, PCB Bancorp presently has a consensus rating of "Buy" and an average price target of $27.75.

PCB Bancorp Stock Up 2.3%

Shares of PCB Bancorp stock opened at $30.62 on Monday. The firm has a market cap of $430.21 million, a price-to-earnings ratio of 10.34 and a beta of 0.49. PCB Bancorp has a one year low of $20.87 and a one year high of $30.83. The stock's 50-day moving average is $28.02 and its 200 day moving average is $25.72. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 1.07.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.73 by $0.12. The company had revenue of $32.39 million during the quarter, compared to the consensus estimate of $31.93 million. PCB Bancorp had a net margin of 19.92% and a return on equity of 13.05%. Equities research analysts anticipate that PCB Bancorp will post 3.02 EPS for the current year.

Hedge Funds Weigh In On PCB Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its position in PCB Bancorp by 5.7% in the first quarter. Bank of America Corp DE now owns 10,659 shares of the company's stock worth $240,000 after purchasing an additional 571 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of PCB Bancorp during the 2nd quarter valued at $28,000. Empowered Funds LLC increased its position in shares of PCB Bancorp by 2.5% during the 1st quarter. Empowered Funds LLC now owns 78,826 shares of the company's stock valued at $1,773,000 after purchasing an additional 1,944 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of PCB Bancorp by 49.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,298 shares of the company's stock worth $142,000 after purchasing an additional 2,078 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of PCB Bancorp during the 2nd quarter worth $60,000. Hedge funds and other institutional investors own 33.04% of the company's stock.

About PCB Bancorp

PCB Bancorp is the bank holding company for PCB Bank, a community bank headquartered in Los Angeles, California. The company provides banking services to individuals, businesses and organizations, with a particular focus on Korean American and other underserved small-business communities.

PCB Bank offers a range of deposit products, including checking, savings, money market and time deposit accounts. Its lending activities include commercial and industrial loans, commercial real estate loans, Small Business Administration loans, residential mortgage loans and consumer loans.

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