PCB Bancorp (NASDAQ:PCB) Posts Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Key Points

• PCB Bancorp reported a quarterly earnings of $0.78 EPS, exceeding analysts' expectations by $0.17 EPS.
• The company's net margin stands at 15.82%, while the return on equity is recorded at 10.58%.
• Insider transactions indicate increased confidence, with directors purchasing significant shares, contributing to a total insider ownership of 25.86%.

PCB Bancorp (NASDAQ:PCB - Get Free Report) issued its earnings results on Thursday. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.61 by $0.17, Zacks reports. PCB Bancorp had a net margin of 15.82% and a return on equity of 10.58%.

PCB Bancorp Price Performance

NASDAQ PCB traded down $0.25 on Thursday, hitting $20.27. 17,181 shares of the company were exchanged, compared to its average volume of 29,249. The firm has a 50 day moving average of $21.24 and a two-hundred day moving average of $20.50. The company has a market cap of $290.87 million, a P/E ratio of 9.52 and a beta of 0.58. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.15. PCB Bancorp has a 1-year low of $16.00 and a 1-year high of $22.45.

Insider Activity

In related news, Director Don Rhee purchased 10,000 shares of PCB Bancorp stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average price of $20.13 per share, for a total transaction of $201,300.00. Following the transaction, the director directly owned 419,044 shares in the company, valued at approximately $8,435,355.72. This represents a 2.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Sang Young Lee purchased 18,200 shares of PCB Bancorp stock in a transaction that occurred on Tuesday, July 29th. The shares were bought at an average price of $21.45 per share, for a total transaction of $390,390.00. Following the transaction, the director owned 1,569,210 shares in the company, valued at $33,659,554.50. This represents a 1.17% increase in their ownership of the stock. The disclosure for this purchase can be found here. 25.86% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its position in PCB Bancorp by 83.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 194,598 shares of the company's stock valued at $3,641,000 after purchasing an additional 88,589 shares during the period. Bridgeway Capital Management LLC lifted its position in PCB Bancorp by 4.1% during the 2nd quarter. Bridgeway Capital Management LLC now owns 145,459 shares of the company's stock valued at $3,052,000 after purchasing an additional 5,784 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in PCB Bancorp by 15.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 111,596 shares of the company's stock valued at $2,341,000 after purchasing an additional 14,671 shares during the period. Empowered Funds LLC lifted its position in PCB Bancorp by 7.2% during the 1st quarter. Empowered Funds LLC now owns 58,475 shares of the company's stock valued at $1,094,000 after purchasing an additional 3,925 shares during the period. Finally, Marshall Wace LLP acquired a new position in PCB Bancorp during the 2nd quarter valued at about $837,000. 33.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PCB shares. Weiss Ratings restated a "buy (b-)" rating on shares of PCB Bancorp in a research note on Tuesday, October 14th. Keefe, Bruyette & Woods boosted their target price on shares of PCB Bancorp from $23.00 to $23.50 and gave the company a "market perform" rating in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $22.25.

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.

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