Millennium Management LLC Takes Position in PCB Bancorp (NASDAQ:PCB)

Millennium Management LLC purchased a new position in shares of PCB Bancorp (NASDAQ:PCB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,903 shares of the company's stock, valued at approximately $484,000. Millennium Management LLC owned about 0.17% of PCB Bancorp at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Rhino Investment Partners Inc grew its position in PCB Bancorp by 50.9% in the fourth quarter. Rhino Investment Partners Inc now owns 609,931 shares of the company's stock valued at $12,345,000 after acquiring an additional 205,668 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of PCB Bancorp by 83.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 84,601 shares of the company's stock worth $1,712,000 after acquiring an additional 38,371 shares during the period. Martingale Asset Management L P bought a new stake in shares of PCB Bancorp during the fourth quarter valued at approximately $559,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in PCB Bancorp by 122.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,161 shares of the company's stock worth $975,000 after acquiring an additional 26,509 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of PCB Bancorp by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 511,588 shares of the company's stock worth $10,355,000 after purchasing an additional 23,925 shares in the last quarter. 33.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lifted their price objective on shares of PCB Bancorp from $21.00 to $23.00 and gave the company a "market perform" rating in a research note on Tuesday, April 29th.

PCB Bancorp Price Performance

Shares of NASDAQ PCB traded up $0.08 during mid-day trading on Thursday, reaching $20.14. 21,664 shares of the company traded hands, compared to its average volume of 30,815. PCB Bancorp has a fifty-two week low of $14.55 and a fifty-two week high of $22.20. The firm has a market cap of $289.75 million, a PE ratio of 11.57 and a beta of 0.56. The stock has a fifty day simple moving average of $19.23 and a 200-day simple moving average of $19.58.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.02. The company had revenue of $26.86 million for the quarter, compared to analysts' expectations of $26.40 million. PCB Bancorp had a return on equity of 9.02% and a net margin of 13.45%. As a group, analysts predict that PCB Bancorp will post 2.04 EPS for the current fiscal year.

PCB Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Friday, May 9th. PCB Bancorp's dividend payout ratio is presently 41.24%.

PCB Bancorp Company 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.