PCB Bancorp (NASDAQ:PCB) Shares Down 0.2% - What's Next?

Key Points

• Analyst sentiment: Zacks and Wall Street Zen recently cut PCB to a "Hold" rating while Weiss Ratings reaffirmed a "Buy"; the stock's consensus rating is Hold with an average price target of $24.50.
• Earnings beat: PCB reported quarterly EPS of $0.98 versus the $0.61 consensus, with a P/E of 9.40 and a market cap of about $344 million, while revenue was roughly in line with estimates.
• Dividend increase and insider buy: PCB raised its quarterly dividend to $0.22 (annualized $0.88, ~3.6% yield) and director Sang Young Lee purchased 5,000 shares, with insiders owning about 25% of the company.

PCB Bancorp (NASDAQ:PCB - Get Free Report)'s share price fell 0.2% during trading on Monday . The stock traded as low as $23.81 and last traded at $24.17. 25,631 shares traded hands during trading, an increase of 10% from the average session volume of 23,349 shares. The stock had previously closed at $24.21.

Analyst Ratings Changes

Several research firms have commented on PCB. Zacks Research cut shares of PCB Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 2nd. Wall Street Zen cut shares of PCB Bancorp from a "buy" rating to a "hold" rating in a research note on Saturday, March 21st. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of PCB Bancorp in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, PCB Bancorp currently has an average rating of "Hold" and an average price target of $24.50.

PCB Bancorp Price Performance

The company's 50 day moving average price is $22.69 and its 200-day moving average price is $22.04. The company has a market cap of $343.94 million, a price-to-earnings ratio of 9.40 and a beta of 0.53. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.06 and a current ratio of 1.06.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.37. The company had revenue of $29.17 million for the quarter, compared to analysts' expectations of $29.33 million. PCB Bancorp had a net margin of 17.89% and a return on equity of 12.03%. On average, equities research analysts forecast that PCB Bancorp will post 2.04 earnings per share for the current fiscal year.

PCB Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 13th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.6%. This is an increase from PCB Bancorp's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, February 13th. PCB Bancorp's payout ratio is 34.24%.

Insider Buying and Selling at PCB Bancorp

In other news, Director Sang Young Lee bought 5,000 shares of the company's stock in a transaction dated Monday, February 23rd. The shares were acquired at an average cost of $22.48 per share, with a total value of $112,400.00. Following the completion of the transaction, the director directly owned 1,587,842 shares in the company, valued at approximately $35,694,688.16. The trade was a 0.32% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have purchased 10,119 shares of company stock valued at $227,820 over the last quarter. Company insiders own 25.01% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co increased its position in shares of PCB Bancorp by 45.6% in the fourth 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. Rhumbline Advisers increased its position in shares of PCB Bancorp by 4.9% in the second quarter. Rhumbline Advisers now owns 16,056 shares of the company's stock worth $337,000 after acquiring an additional 750 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of PCB Bancorp by 28.0% in the third quarter. PNC Financial Services Group Inc. now owns 4,033 shares of the company's stock worth $85,000 after acquiring an additional 882 shares in the last quarter. Tower Research Capital LLC TRC increased its position 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 worth $40,000 after acquiring an additional 898 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of PCB Bancorp by 60.2% in the third quarter. Russell Investments Group Ltd. now owns 2,852 shares of the company's stock worth $60,000 after acquiring an additional 1,072 shares in the last quarter. 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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