PCB Bancorp (NASDAQ:PCB) Sees Large Decline in Short Interest

PCB Bancorp (NASDAQ:PCB - Get Free Report) was the target of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 67,600 shares, a drop of 24.0% from the March 15th total of 89,000 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 17,000 shares, the short-interest ratio is currently 4.0 days.

PCB Bancorp Price Performance

PCB remained flat at $15.22 during midday trading on Friday. 13,163 shares of the company's stock were exchanged, compared to its average volume of 16,522. The company has a market cap of $217.04 million, a price-to-earnings ratio of 7.18 and a beta of 0.63. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. PCB Bancorp has a 1 year low of $12.86 and a 1 year high of $19.03. The company's 50 day moving average is $15.90 and its 200-day moving average is $16.34.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last announced its quarterly earnings results on Thursday, January 25th. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.07). PCB Bancorp had a return on equity of 11.25% and a net margin of 18.97%. The business had revenue of $24.43 million for the quarter, compared to the consensus estimate of $24.95 million. As a group, research analysts anticipate that PCB Bancorp will post 1.7 EPS for the current fiscal year.

PCB Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Friday, February 9th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend was Thursday, February 8th. PCB Bancorp's dividend payout ratio (DPR) is currently 33.96%.

Insider Activity at PCB Bancorp

In related news, Director Sang Young Lee bought 7,215 shares of PCB Bancorp stock in a transaction that occurred on Friday, March 1st. The stock was acquired at an average price of $15.91 per share, for a total transaction of $114,790.65. Following the completion of the purchase, the director now owns 1,465,199 shares in the company, valued at $23,311,316.09. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders purchased 15,509 shares of company stock worth $247,400. Company insiders own 25.73% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PCB. Tower Research Capital LLC TRC raised its position in PCB Bancorp by 82.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,651 shares of the company's stock worth $26,000 after purchasing an additional 747 shares during the last quarter. Citigroup Inc. bought a new position in PCB Bancorp in the 2nd quarter worth approximately $48,000. Barclays PLC raised its position in PCB Bancorp by 471.5% in the 4th quarter. Barclays PLC now owns 3,092 shares of the company's stock worth $54,000 after purchasing an additional 2,551 shares during the last quarter. Wells Fargo & Company MN raised its position in PCB Bancorp by 105.2% in the 2nd quarter. Wells Fargo & Company MN now owns 4,163 shares of the company's stock worth $61,000 after purchasing an additional 2,134 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in PCB Bancorp by 96.7% in the 4th quarter. New York State Common Retirement Fund now owns 4,882 shares of the company's stock worth $90,000 after purchasing an additional 2,400 shares during the last quarter. Institutional investors own 33.04% of the company's stock.

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.