Nuveen LLC Makes New Investment in PCB Bancorp $PCB

Key Points

• Nuveen LLC acquired 20,311 shares of PCB Bancorp, valued at approximately $380,000, increasing its ownership to 0.14%.
• Analysts at Keefe, Bruyette & Woods have raised their target price for PCB Bancorp from $23.00 to $23.50, maintaining a "market perform" rating.
• PCB Bancorp announced a quarterly dividend of $0.20 per share, which represents an annualized yield of 3.6%.

Nuveen LLC purchased a new stake in PCB Bancorp (NASDAQ:PCB - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 20,311 shares of the company's stock, valued at approximately $380,000. Nuveen LLC owned approximately 0.14% of PCB Bancorp as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC boosted its holdings in shares of PCB Bancorp by 71.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company's stock valued at $32,000 after buying an additional 667 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of PCB Bancorp by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 6,404 shares of the company's stock valued at $130,000 after buying an additional 1,395 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of PCB Bancorp by 39.5% in the 4th quarter. Deutsche Bank AG now owns 7,283 shares of the company's stock valued at $147,000 after buying an additional 2,063 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of PCB Bancorp in the 4th quarter valued at about $186,000. Finally, Bank of America Corp DE boosted its holdings in shares of PCB Bancorp by 40.3% in the 4th quarter. Bank of America Corp DE now owns 12,223 shares of the company's stock valued at $247,000 after buying an additional 3,511 shares in the last quarter. 33.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other PCB Bancorp news, Director Sang Young Lee purchased 18,200 shares of PCB Bancorp stock in a transaction on Tuesday, July 29th. The stock was bought at an average cost 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. This represents a 1.17% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Don Rhee purchased 10,000 shares of PCB Bancorp stock in a transaction on Friday, August 1st. The shares were acquired at an average cost of $20.13 per share, with a total value of $201,300.00. Following the completion of the transaction, the director directly owned 419,044 shares in the company, valued at $8,435,355.72. The trade was a 2.44% increase in their position. The disclosure for this purchase can be found here. Company insiders own 25.86% of the company's stock.

PCB Bancorp Stock Performance

Shares of PCB Bancorp stock traded down $0.18 during midday trading on Friday, hitting $21.80. The company had a trading volume of 14,840 shares, compared to its average volume of 23,592. The stock has a market cap of $312.83 million, a price-to-earnings ratio of 10.23 and a beta of 0.62. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $21.57 and a 200 day simple moving average of $20.05. PCB Bancorp has a 12-month low of $16.00 and a 12-month high of $22.45.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. The firm had revenue of $29.29 million during the quarter, compared to analyst estimates of $28.63 million. PCB Bancorp had a net margin of 15.82% and a return on equity of 10.58%. As a group, analysts predict that PCB Bancorp will post 2.04 earnings per share for the current fiscal year.

PCB Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 8th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.80 dividend on an annualized basis and a yield of 3.7%. PCB Bancorp's dividend payout ratio (DPR) is currently 37.56%.

Wall Street Analyst Weigh In

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

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.