PCB Bancorp (NASDAQ:PCB) Announces Quarterly Earnings Results, Beats Estimates By $0.39 EPS

Key Points

• PCB Bancorp beat quarterly EPS estimates, reporting $1.09 per share versus the $0.70 consensus, a surprise of $0.39.
• Revenue came in slightly below expectations at $30.70 million compared with the $31.10 million estimate, while the company posted a net margin of 19.03% and return on equity of 12.70%.
• The stock slipped modestly after the report, trading down 0.7% to $28.90 even as analyst sentiment remained mixed, with an average rating of “Moderate Buy” and an average target price of $25.50.

PCB Bancorp (NASDAQ:PCB - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.39, FiscalAI reports. The company had revenue of $30.70 million for the quarter, compared to the consensus estimate of $31.10 million. PCB Bancorp had a net margin of 19.03% and a return on equity of 12.70%.

PCB Bancorp Trading Down 0.7%

Shares of PCB traded down $0.20 during mid-day trading on Thursday, reaching $28.90. 43,806 shares of the company's stock traded hands, compared to its average volume of 28,240. PCB Bancorp has a 12 month low of $19.70 and a 12 month high of $30.83. The stock has a market cap of $411.25 million, a P/E ratio of 10.40 and a beta of 0.50. The stock's 50-day moving average is $26.75 and its two-hundred day moving average is $24.24. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.07 and a quick ratio of 1.06.

Analysts Set New Price Targets

A number of brokerages recently commented on PCB. Zacks Research lowered PCB Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 2nd. Weiss Ratings raised shares of PCB Bancorp from a "buy (b)" rating to a "buy (a-)" rating in a report on Monday, May 11th. Finally, Piper Sandler upped their price target on shares of PCB Bancorp from $25.50 to $26.00 and gave the company a "neutral" rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $25.50.

Institutional Investors Weigh In On PCB Bancorp

Several large investors have recently added to or reduced their stakes in PCB. CANADA LIFE ASSURANCE Co grew its stake in PCB Bancorp by 45.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,447 shares of the company's stock worth $31,000 after acquiring an additional 453 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of PCB Bancorp by 3,769.6% during the second quarter. Russell Investments Group Ltd. now owns 1,780 shares of the company's stock valued at $37,000 after acquiring an additional 1,734 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of PCB Bancorp by 88.2% in the second quarter. Tower Research Capital LLC TRC now owns 1,916 shares of the company's stock valued at $40,000 after purchasing an additional 898 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of PCB Bancorp by 273.4% in the third quarter. BNP Paribas Financial Markets now owns 3,939 shares of the company's stock valued at $83,000 after purchasing an additional 2,884 shares during the period. Finally, Strs Ohio bought a new position in PCB Bancorp in the first quarter worth approximately $94,000. 33.04% of the stock is owned by hedge funds and other institutional investors.

About PCB Bancorp

PCB Bancorp is the bank holding company for Pacific City Bank, a California-chartered bank founded in 1999 and headquartered in Torrance, California. As the parent of an FDIC-insured institution, PCB Bancorp oversees a community-focused banking franchise that serves both retail customers and commercial enterprises. The company's strategy emphasizes personalized service and deep market knowledge to meet the evolving needs of individuals, families and businesses in Southern California.

Through its subsidiary Pacific City Bank, PCB Bancorp offers a broad range of financial products and services, including deposit accounts, commercial real estate and construction lending, residential mortgages, trade finance, treasury management and wealth advisory solutions.

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