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 PCB Bancorp stock in a transaction dated Tuesday, July 29th. The shares were purchased at an average price of $21.45 per share, with a total value of $390,390.00. Following the completion of the transaction, the director directly owned 1,569,210 shares in the company, valued at approximately $33,659,554.50. This represents a 1.17% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link.

PCB Bancorp Stock Down 1.1%

Shares of NASDAQ:PCB traded down $0.23 during trading on Friday, reaching $20.21. 35,001 shares of the stock traded hands, compared to its average volume of 23,325. The stock has a 50-day moving average of $20.68 and a two-hundred day moving average of $19.71. PCB Bancorp has a 52-week low of $16.00 and a 52-week high of $22.37. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market cap of $289.21 million, a P/E ratio of 9.49 and a beta of 0.61.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $29.29 million for the quarter, compared to the consensus estimate of $28.63 million. PCB Bancorp had a net margin of 15.82% and a return on equity of 10.67%. As a group, sell-side analysts expect that PCB Bancorp will post 2.04 earnings per share for the current fiscal year.

PCB Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 8th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, August 8th. PCB Bancorp's dividend payout ratio (DPR) is presently 37.56%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upped their target price on shares of PCB Bancorp from $23.00 to $23.50 and gave the stock a "market perform" rating in a research report on Monday, July 28th.

Institutional Trading of PCB Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC grew its stake in PCB Bancorp by 61.5% during the second quarter. CWM LLC now owns 2,046 shares of the company's stock valued at $43,000 after acquiring an additional 779 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in PCB Bancorp during the second quarter valued at $44,000. Goldman Sachs Group Inc. grew its stake in PCB Bancorp by 83.6% during the first 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 purchased a new position in PCB Bancorp during the first quarter valued at $94,000. Finally, Jane Street Group LLC purchased a new position in PCB Bancorp during the first quarter valued at $272,000. 33.04% of the stock is currently owned by institutional investors.

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.