PCB Bancorp $PCB Shares Acquired by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs increased its stake in PCB Bancorp by 83.6%, owning approximately 1.36% of the company worth $3.64 million after acquiring an additional 88,589 shares.
• PCB Bancorp reported $0.62 EPS for the last quarter, exceeding analysts' expectations, and posted quarterly revenue of $29.29 million.
• The company announced a quarterly dividend of $0.20 per share with a yield of 3.6%, reflecting a dividend payout ratio of 37.56%.

Goldman Sachs Group Inc. boosted its holdings in PCB Bancorp (NASDAQ:PCB - Free Report) by 83.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 194,598 shares of the company's stock after purchasing an additional 88,589 shares during the quarter. Goldman Sachs Group Inc. owned about 1.36% of PCB Bancorp worth $3,641,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Millennium Management LLC acquired a new position in PCB Bancorp in the fourth quarter valued at $484,000. BNP Paribas Financial Markets purchased a new stake in PCB Bancorp during the 4th quarter valued at approximately $285,000. Bank of America Corp DE increased its holdings in shares of PCB Bancorp by 40.3% in the fourth quarter. Bank of America Corp DE now owns 12,223 shares of the company's stock valued at $247,000 after purchasing an additional 3,511 shares during the period. Nuveen LLC purchased a new stake in shares of PCB Bancorp during the first quarter worth approximately $380,000. Finally, Squarepoint Ops LLC lifted its holdings in shares of PCB Bancorp by 42.4% during the fourth quarter. Squarepoint Ops LLC now owns 17,312 shares of the company's stock worth $350,000 after purchasing an additional 5,155 shares during the period. 33.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PCB Bancorp

In other PCB Bancorp news, Director Don Rhee bought 10,000 shares of the company's stock in a transaction on Friday, August 1st. The stock was purchased at an average cost of $20.13 per share, for a total transaction of $201,300.00. Following the acquisition, the director owned 419,044 shares of the company's stock, valued at $8,435,355.72. The trade was a 2.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sang Young Lee bought 18,200 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were acquired at an average price of $21.45 per share, with a total value of $390,390.00. Following the transaction, the director owned 1,569,210 shares of the company's stock, valued at $33,659,554.50. The trade was a 1.17% increase in their position. The disclosure for this purchase can be found here. Insiders own 25.01% of the company's stock.

PCB Bancorp Price Performance

Shares of NASDAQ PCB traded up $0.06 during midday trading on Monday, hitting $21.50. The company had a trading volume of 18,460 shares, compared to its average volume of 20,964. The firm has a market capitalization of $308.53 million, a price-to-earnings ratio of 10.09 and a beta of 0.62. PCB Bancorp has a twelve month low of $16.00 and a twelve month high of $22.45. The business has a 50-day simple moving average of $21.50 and a two-hundred day simple moving average of $20.23. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.15.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.02. PCB Bancorp had a net margin of 15.82% and a return on equity of 10.58%. The company had revenue of $29.29 million for the quarter, compared to analyst estimates of $28.63 million. Equities research analysts anticipate that PCB Bancorp will post 2.04 earnings per share for the current year.

PCB Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Friday, August 8th. PCB Bancorp's dividend payout ratio (DPR) is presently 37.56%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods boosted their price objective on shares of PCB Bancorp from $23.00 to $23.50 and gave the company a "market perform" rating in a research note on Monday, July 28th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $22.25.

PCB Bancorp 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.