Rhino Investment Partners Inc Sells 47,295 Shares of PCB Bancorp $PCB

Key Points

• Rhino Investment Partners Inc reduced its stake in PCB Bancorp by 7.8%, selling 47,295 shares and maintaining ownership of 562,636 shares, which constitutes 2.6% of its portfolio.
• In the latest quarter, several hedge funds increased their stakes in PCB Bancorp, with Tower Research Capital LLC leading the way with a 71.6% increase in holdings.
• PCB Bancorp recently declared a quarterly dividend of $0.20 per share, translating to an annualized dividend yield of 3.7%.

Rhino Investment Partners Inc cut its stake in shares of PCB Bancorp (NASDAQ:PCB - Free Report) by 7.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 562,636 shares of the company's stock after selling 47,295 shares during the quarter. PCB Bancorp comprises approximately 2.6% of Rhino Investment Partners Inc's portfolio, making the stock its 13th biggest position. Rhino Investment Partners Inc owned approximately 3.91% of PCB Bancorp worth $10,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Martingale Asset Management L P increased its holdings in shares of PCB Bancorp by 12.1% during the first quarter. Martingale Asset Management L P now owns 30,975 shares of the company's stock valued at $580,000 after acquiring an additional 3,340 shares in the last quarter. Nuveen LLC bought a new position in shares of PCB Bancorp during the first quarter valued at $380,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of PCB Bancorp by 15.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,647 shares of the company's stock valued at $1,041,000 after acquiring an additional 7,486 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of PCB Bancorp by 3.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 30,252 shares of the company's stock valued at $566,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Squarepoint Ops LLC increased 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 valued at $350,000 after acquiring an additional 5,155 shares in the last quarter. 33.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity

In other news, Director Sang Young Lee purchased 18,200 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was acquired at an average cost of $21.45 per share, for a total transaction of $390,390.00. Following the purchase, the director directly owned 1,569,210 shares in the company, valued at $33,659,554.50. This trade represents a 1.17% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Don Rhee purchased 10,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were purchased at an average price of $20.13 per share, with a total value of $201,300.00. Following the completion of the purchase, the director owned 419,044 shares in the company, valued at approximately $8,435,355.72. This trade represents a 2.44% increase in their ownership of the stock. The disclosure for this purchase can be found here. 25.86% of the stock is currently owned by company insiders.

PCB Bancorp Stock Performance

NASDAQ PCB traded up $0.13 during trading hours on Tuesday, hitting $22.26. The company's stock had a trading volume of 7,773 shares, compared to its average volume of 30,770. PCB Bancorp has a 12 month low of $16.00 and a 12 month high of $22.45. The company's 50 day simple moving average is $21.27 and its two-hundred day simple moving average is $19.93. The company has a market cap of $319.43 million, a P/E ratio of 10.45 and a beta of 0.61. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.06 and a quick ratio of 1.06.

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

PCB Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.6%. The ex-dividend date was Friday, August 8th. PCB Bancorp's dividend payout ratio (DPR) is presently 37.56%.

About PCB Bancorp

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.