PCB Bancorp (NASDAQ:PCB) Director Acquires $390,390.00 in Stock

Key Points

• Sang Young Lee, a director at PCB Bancorp, purchased 18,200 shares at an average cost of $21.45, increasing their ownership to approximately 1.57 million shares valued at around $33.66 million.
• PCB Bancorp reported $0.62 earnings per share for the last quarter, surpassing the consensus estimate and achieving a net margin of 15.82%.
• The company announced a quarterly dividend of $0.20 per share, providing an annualized yield of 3.74%, with a payout ratio of 37.56%.

PCB Bancorp (NASDAQ:PCB - Get Free Report) Director Sang Young Lee purchased 18,200 shares of the stock in a transaction on Tuesday, July 29th. The stock was bought at an average price of $21.45 per share, for a total transaction of $390,390.00. Following the completion of the transaction, the director directly owned 1,569,210 shares of the company's stock, valued at approximately $33,659,554.50. This trade represents a 1.17% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

PCB Bancorp Stock Down 1.3%

PCB Bancorp stock traded down $0.27 during midday trading on Friday, reaching $20.17. The stock had a trading volume of 10,958 shares, compared to its average volume of 31,106. The firm's fifty day simple moving average is $20.67 and its 200-day simple moving average is $19.71. PCB Bancorp has a 1-year low of $16.00 and a 1-year high of $22.37. The stock has a market capitalization of $288.61 million, a P/E ratio of 9.47 and a beta of 0.57. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.06 and a current ratio of 1.06.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.02. The firm had revenue of $29.29 million during the quarter, compared to the consensus estimate of $28.63 million. PCB Bancorp had a return on equity of 10.67% and a net margin of 15.82%. As a group, analysts expect that PCB Bancorp will post 2.04 EPS for the current fiscal year.

PCB Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 8th will be paid a $0.20 dividend. The ex-dividend date is Friday, August 8th. This represents a $0.80 annualized dividend and a yield of 4.0%. PCB Bancorp's payout ratio is 37.56%.

Institutional Trading of PCB Bancorp

Several institutional investors have recently added to or reduced their stakes in the company. CWM LLC boosted its stake in PCB Bancorp by 61.5% in the 2nd quarter. CWM LLC now owns 2,046 shares of the company's stock valued at $43,000 after purchasing an additional 779 shares during the period. Public Employees Retirement System of Ohio acquired a new position in PCB Bancorp in the 2nd quarter valued at $44,000. Goldman Sachs Group Inc. raised its holdings in PCB Bancorp by 83.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 194,598 shares of the company's stock valued at $3,641,000 after acquiring an additional 88,589 shares in the last quarter. Strs Ohio acquired a new position in PCB Bancorp in the 1st quarter valued at $94,000. Finally, Jane Street Group LLC acquired a new position in shares of PCB Bancorp during the 1st quarter worth $272,000. 33.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased their target price on PCB Bancorp from $23.00 to $23.50 and gave the stock a "market perform" rating in a report on Monday.

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.