Rhino Investment Partners Inc Has $9.51 Million Position in PCB Bancorp $PCB

Key Points

• Rhino Investment Partners trimmed its stake in PCB Bancorp by 9.4% in Q3 and now holds 452,699 shares valued at about $9.51 million, representing roughly 3.0% of Rhino’s portfolio and 3.17% of PCB’s shares.
• PCB Bancorp recently raised its quarterly dividend to $0.22 (annualized $0.88) for a dividend yield of 4.1%, and Director Sang Young Lee bought 5,000 shares at $22.48, part of insiders now owning about 25.9% of the company.
• The bank has a market cap of $308.7M and a P/E of 8.42; it reported Q4 EPS of $0.64 (beating the $0.61 estimate) and carries a consensus analyst rating of Moderate Buy with an average price target of $24.50.

Rhino Investment Partners Inc lessened its holdings in shares of PCB Bancorp (NASDAQ:PCB - Free Report) by 9.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 452,699 shares of the company's stock after selling 47,087 shares during the period. PCB Bancorp accounts for about 3.0% of Rhino Investment Partners Inc's portfolio, making the stock its 14th largest position. Rhino Investment Partners Inc owned 3.17% of PCB Bancorp worth $9,507,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. lifted its position in PCB Bancorp by 3,769.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,780 shares of the company's stock worth $37,000 after buying an additional 1,734 shares in the last quarter. Tower Research Capital LLC TRC increased its position in PCB Bancorp by 88.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,916 shares of the company's stock valued at $40,000 after acquiring an additional 898 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of PCB Bancorp by 1,033.5% in the second quarter. PNC Financial Services Group Inc. now owns 3,151 shares of the company's stock worth $66,000 after acquiring an additional 2,873 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of PCB Bancorp by 273.4% during the third quarter. BNP Paribas Financial Markets now owns 3,939 shares of the company's stock worth $83,000 after purchasing an additional 2,884 shares in the last quarter. Finally, CWM LLC lifted its position in shares of PCB Bancorp by 109.1% during the third quarter. CWM LLC now owns 4,278 shares of the company's stock worth $90,000 after purchasing an additional 2,232 shares in the last quarter. 33.04% of the stock is owned by institutional investors.

PCB Bancorp Price Performance

PCB opened at $21.65 on Friday. The company has a market cap of $308.73 million, a price-to-earnings ratio of 8.42 and a beta of 0.56. The firm has a 50 day simple moving average of $22.44 and a 200 day simple moving average of $21.89. PCB Bancorp has a fifty-two week low of $16.00 and a fifty-two week high of $24.20.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03. PCB Bancorp had a net margin of 17.89% and a return on equity of 12.15%. The business had revenue of $29.17 million for the quarter, compared to analyst estimates of $29.33 million. As a group, analysts expect that PCB Bancorp will post 2.04 EPS for the current year.

PCB Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 13th were given a $0.22 dividend. The ex-dividend date was Friday, February 13th. This represents a $0.88 annualized dividend and a dividend yield of 4.1%. This is an increase from PCB Bancorp's previous quarterly dividend of $0.20. PCB Bancorp's dividend payout ratio is 34.24%.

Insider Activity

In related news, Director Sang Young Lee acquired 5,000 shares of the firm's stock in a transaction that occurred on Monday, February 23rd. The stock was acquired at an average cost of $22.48 per share, with a total value of $112,400.00. Following the completion of the purchase, the director directly owned 1,587,842 shares in the company, valued at approximately $35,694,688.16. This trade represents a 0.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders acquired 10,119 shares of company stock valued at $227,820. 25.86% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on PCB. Weiss Ratings reissued a "buy (b)" rating on shares of PCB Bancorp in a report on Monday, December 29th. Zacks Research upgraded PCB Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 3rd. Finally, Wall Street Zen raised PCB Bancorp from a "hold" rating to a "buy" rating in a research note on Saturday, November 15th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $24.50.

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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