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

PCB Bancorp (NASDAQ:PCB - Get Free Report) was the target of a large growth in short interest in April. As of April 30th, there was short interest totalling 65,800 shares, a growth of 20.1% from the April 15th total of 54,800 shares. Based on an average daily trading volume, of 17,100 shares, the days-to-cover ratio is presently 3.8 days. Currently, 0.6% of the company's stock are sold short.

Insider Transactions at PCB Bancorp

In other news, Director Sang Young Lee acquired 7,215 shares of PCB Bancorp stock in a transaction dated Friday, March 1st. The stock was purchased at an average cost of $15.91 per share, for a total transaction of $114,790.65. Following the completion of the purchase, the director now directly owns 1,465,199 shares in the company, valued at approximately $23,311,316.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have bought 15,509 shares of company stock valued at $247,400. 25.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PCB Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of PCB. New York State Common Retirement Fund lifted its holdings 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 buying an additional 2,400 shares in the last quarter. SG Americas Securities LLC bought a new stake in PCB Bancorp during the third quarter worth approximately $141,000. O Shaughnessy Asset Management LLC bought a new stake in PCB Bancorp during the third quarter worth approximately $186,000. Empowered Funds LLC boosted its stake in PCB Bancorp by 8.1% in the 1st quarter. Empowered Funds LLC now owns 46,074 shares of the company's stock worth $752,000 after purchasing an additional 3,434 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of PCB Bancorp by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 656,732 shares of the company's stock valued at $10,724,000 after purchasing an additional 4,152 shares in the last quarter. Institutional investors and hedge funds own 33.04% of the company's stock.

PCB Bancorp Stock Performance

Shares of NASDAQ PCB traded up $0.09 during trading hours on Wednesday, reaching $15.49. The stock had a trading volume of 18,664 shares, compared to its average volume of 17,933. The firm has a 50-day moving average of $15.59 and a 200-day moving average of $16.35. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.18. The firm has a market cap of $221.04 million, a price-to-earnings ratio of 8.80 and a beta of 0.65. PCB Bancorp has a fifty-two week low of $13.39 and a fifty-two week high of $19.03.

PCB Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date of this dividend is Thursday, May 9th. PCB Bancorp's dividend payout ratio (DPR) is 41.14%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their target price on PCB Bancorp from $18.00 to $17.00 and set a "neutral" rating on the stock in a research report on Monday, April 29th.

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.

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