JPMorgan Chase & Co. Buys 19,749 Shares of PCB Bancorp (NASDAQ:PCB)

JPMorgan Chase & Co. lifted its holdings in PCB Bancorp (NASDAQ:PCB - Free Report) by 93.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,938 shares of the company's stock after buying an additional 19,749 shares during the period. JPMorgan Chase & Co. owned about 0.29% of PCB Bancorp worth $829,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. lifted its position in PCB Bancorp by 122.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,161 shares of the company's stock worth $975,000 after buying an additional 26,509 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of PCB Bancorp by 19.8% in the fourth quarter. Bank of New York Mellon Corp now owns 82,023 shares of the company's stock valued at $1,660,000 after acquiring an additional 13,529 shares during the period. Empowered Funds LLC lifted its holdings in shares of PCB Bancorp by 4.8% in the 4th quarter. Empowered Funds LLC now owns 54,550 shares of the company's stock worth $1,104,000 after acquiring an additional 2,510 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in shares of PCB Bancorp during the 4th quarter worth about $214,000. Finally, Barclays PLC grew its holdings in PCB Bancorp by 299.2% during the 3rd quarter. Barclays PLC now owns 14,096 shares of the company's stock valued at $265,000 after purchasing an additional 10,565 shares during the last quarter. Institutional investors own 33.04% of the company's stock.

PCB Bancorp Stock Performance

PCB Bancorp stock traded up $0.29 during mid-day trading on Friday, hitting $19.80. The company's stock had a trading volume of 38,580 shares, compared to its average volume of 28,128. PCB Bancorp has a one year low of $14.50 and a one year high of $22.20. The stock has a market cap of $284.86 million, a PE ratio of 11.38 and a beta of 0.47. The company has a 50 day moving average of $18.63 and a 200-day moving average of $19.55.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.02. PCB Bancorp had a net margin of 13.45% and a return on equity of 9.02%. The firm had revenue of $26.86 million for the quarter, compared to analysts' expectations of $26.40 million. On average, equities research analysts forecast that PCB Bancorp will post 2.04 EPS for the current fiscal year.

PCB Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, May 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Friday, May 9th. PCB Bancorp's dividend payout ratio is presently 41.24%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised their price objective on shares of PCB Bancorp from $21.00 to $23.00 and gave the stock a "market perform" rating in a research note on Tuesday.

Insider Activity at PCB Bancorp

In other news, Director Sang Young Lee acquired 4,504 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average cost of $19.78 per share, for a total transaction of $89,089.12. Following the completion of the acquisition, the director now directly owns 1,530,711 shares of the company's stock, valued at $30,277,463.58. The trade was a 0.30 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 25.01% of the stock is owned by company insiders.

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.