80,427 Shares in PCB Bancorp $PCB Acquired by Empowered Funds LLC

Key Points

• Empowered Funds LLC acquired 80,427 shares of PCB Bancorp in the second quarter, worth approximately $2.28 million and representing 0.57% of the company. Institutional investors collectively own 33.04% of PCB Bancorp.
• PCB Bancorp reported quarterly earnings of $0.73 per share, exceeding the $0.70 analyst consensus, while revenue of $30.7 million slightly missed estimates. The company also pays a quarterly dividend of $0.22, equating to a 3.2% annualized yield.
• Analyst sentiment is moderately positive, with one Strong Buy and three Hold ratings and a consensus price target of $27.75. Shares recently opened at $27.78, with the stock up 2.1% and trading between a 52-week range of $19.70 to $30.83.

Empowered Funds LLC bought a new position in PCB Bancorp (NASDAQ:PCB - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 80,427 shares of the company's stock, valued at approximately $2,282,000. Empowered Funds LLC owned approximately 0.57% of PCB Bancorp at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Legal & General Group Plc bought a new stake in shares of PCB Bancorp in the 2nd quarter worth approximately $28,000. CANADA LIFE ASSURANCE Co grew its holdings in shares of 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 during the last quarter. Russell Investments Group Ltd. raised its position in 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 purchasing an additional 1,734 shares during the period. Tower Research Capital LLC TRC lifted its stake in PCB Bancorp by 88.2% in the second quarter. Tower Research Capital LLC TRC now owns 1,916 shares of the company's stock worth $40,000 after purchasing an additional 898 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in PCB Bancorp in the second quarter worth $60,000. 33.04% of the stock is currently owned by institutional investors.

PCB Bancorp Stock Up 2.1%

Shares of NASDAQ:PCB opened at $27.78 on Thursday. The stock's 50-day moving average is $28.33 and its 200 day moving average is $25.40. The company has a market cap of $390.31 million, a PE ratio of 9.61 and a beta of 0.49. 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 has a 1 year low of $19.70 and a 1 year high of $30.83.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.03. PCB Bancorp had a return on equity of 12.91% and a net margin of 19.65%.The firm had revenue of $30.70 million for the quarter, compared to analyst estimates of $31.10 million. Sell-side analysts anticipate that PCB Bancorp will post 2.94 EPS for the current year.

PCB Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 7th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.88 dividend on an annualized basis and a yield of 3.2%. PCB Bancorp's dividend payout ratio (DPR) is presently 30.45%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PCB. Keefe, Bruyette & Woods raised their price objective on PCB Bancorp from $29.00 to $29.50 and gave the company a "market perform" rating in a research note on Monday, July 27th. Weiss Ratings restated a "buy (a-)" rating on shares of PCB Bancorp in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, PCB Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.75.

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.

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