PCB Bancorp (NASDAQ:PCB) Trading Up 1.6% - Here's Why

PCB Bancorp (NASDAQ:PCB - Get Free Report)'s stock price traded up 1.6% on Wednesday . The company traded as high as $21.47 and last traded at $21.33. 33,564 shares changed hands during trading, an increase of 8% from the average session volume of 31,117 shares. The stock had previously closed at $20.99.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lifted their price target on shares of PCB Bancorp from $21.00 to $23.00 and gave the company a "market perform" rating in a report on Tuesday, April 29th.

PCB Bancorp Price Performance

The firm has a market capitalization of $308.38 million, a price-to-earnings ratio of 11.11 and a beta of 0.56. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average price of $20.49 and a two-hundred day moving average price of $19.58.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.02. The firm had revenue of $26.86 million for the quarter, compared to analyst estimates of $26.40 million. PCB Bancorp had a return on equity of 9.54% and a net margin of 14.81%. As a group, research analysts forecast that PCB Bancorp will post 2.04 EPS for the current year.

PCB Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were given a $0.20 dividend. The ex-dividend date was Friday, May 9th. This represents a $0.80 annualized dividend and a yield of 3.71%. PCB Bancorp's dividend payout ratio is presently 41.24%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PCB. Bank of New York Mellon Corp boosted its position in PCB Bancorp by 19.8% during the 4th quarter. Bank of New York Mellon Corp now owns 82,023 shares of the company's stock worth $1,660,000 after acquiring an additional 13,529 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in PCB Bancorp by 122.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,161 shares of the company's stock worth $975,000 after purchasing an additional 26,509 shares during the period. JPMorgan Chase & Co. lifted its holdings in PCB Bancorp by 93.2% in the fourth quarter. JPMorgan Chase & Co. now owns 40,938 shares of the company's stock worth $829,000 after purchasing an additional 19,749 shares during the period. Arrowstreet Capital Limited Partnership grew its position in PCB Bancorp by 83.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 84,601 shares of the company's stock valued at $1,712,000 after buying an additional 38,371 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in PCB Bancorp by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 6,404 shares of the company's stock valued at $130,000 after buying an additional 1,395 shares during the period. 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.