PCB Bancorp (NASDAQ:PCB) Price Target Lowered to $17.00 at Piper Sandler

PCB Bancorp (NASDAQ:PCB - Get Free Report) had its price objective cut by research analysts at Piper Sandler from $18.00 to $17.00 in a research note issued on Monday, Benzinga reports. The firm presently has a "neutral" rating on the stock. Piper Sandler's price target suggests a potential upside of 11.70% from the company's previous close.

PCB Bancorp Price Performance

Shares of PCB Bancorp stock traded down $0.25 on Monday, hitting $15.22. 12,898 shares of the company traded hands, compared to its average volume of 18,334. PCB Bancorp has a 12-month low of $12.86 and a 12-month high of $19.03. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The company has a market cap of $217.04 million, a P/E ratio of 8.70 and a beta of 0.63. The firm's 50-day simple moving average is $15.73 and its 200 day simple moving average is $16.35.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last released its quarterly earnings results on Thursday, January 25th. The company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.07). PCB Bancorp had a net margin of 14.69% and a return on equity of 9.14%. The firm had revenue of $24.43 million for the quarter, compared to analysts' expectations of $24.95 million. Analysts expect that PCB Bancorp will post 1.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PCB Bancorp news, Director Sang Young Lee purchased 2,000 shares of the firm's stock in a transaction on Tuesday, February 20th. The shares were purchased at an average cost of $16.11 per share, with a total value of $32,220.00. Following the completion of the purchase, the director now owns 1,445,971 shares of the company's stock, valued at approximately $23,294,592.81. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders bought a total of 15,509 shares of company stock valued at $247,400 over the last quarter. 25.01% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PCB. New York State Common Retirement Fund raised its holdings in PCB Bancorp by 96.7% during the 4th quarter. New York State Common Retirement Fund now owns 4,882 shares of the company's stock valued at $90,000 after buying an additional 2,400 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of PCB Bancorp during the third quarter valued at about $141,000. Finally, O Shaughnessy Asset Management LLC bought a new position in shares of PCB Bancorp during the third quarter valued at about $186,000. 33.04% of the stock is owned by institutional investors.

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.