PCB Bancorp (NASDAQ:PCB) Price Target Raised to $23.00 at Keefe, Bruyette & Woods

PCB Bancorp (NASDAQ:PCB - Get Free Report) had its price objective hoisted by investment analysts at Keefe, Bruyette & Woods from $21.00 to $23.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' target price points to a potential upside of 16.16% from the company's previous close.

PCB Bancorp Stock Up 1.5 %

PCB stock traded up $0.29 during midday trading on Tuesday, hitting $19.80. The company's stock had a trading volume of 38,580 shares, compared to its average volume of 28,128. The firm has a market capitalization of $284.86 million, a price-to-earnings ratio of 11.38 and a beta of 0.56. PCB Bancorp has a 12 month low of $14.50 and a 12 month high of $22.20. The company has a 50 day moving average of $18.63 and a two-hundred day moving average of $19.55.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.02. The company had revenue of $26.86 million during the quarter, compared to analysts' expectations of $26.40 million. PCB Bancorp had a net margin of 13.45% and a return on equity of 9.02%. On average, analysts anticipate that PCB Bancorp will post 2.04 earnings per share for the current fiscal year.

Insider Activity

In other PCB Bancorp news, Director Sang Young Lee purchased 4,504 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average price of $19.78 per share, with a total value of $89,089.12. Following the acquisition, the director now owns 1,530,711 shares in the company, valued at approximately $30,277,463.58. The trade was a 0.30 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 25.86% of the company's stock.

Institutional Investors Weigh In On PCB Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PCB. Tower Research Capital LLC TRC raised its holdings in PCB Bancorp by 71.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company's stock valued at $32,000 after buying an additional 667 shares during the period. Wells Fargo & Company MN raised its stake in shares of PCB Bancorp by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 6,404 shares of the company's stock valued at $130,000 after acquiring an additional 1,395 shares during the period. Deutsche Bank AG lifted its holdings in shares of PCB Bancorp by 39.5% in the 4th quarter. Deutsche Bank AG now owns 7,283 shares of the company's stock worth $147,000 after acquiring an additional 2,063 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of PCB Bancorp during the 4th quarter worth about $186,000. Finally, Diversify Advisory Services LLC bought a new position in PCB Bancorp during the 4th quarter valued at about $214,000. 33.04% of the stock is currently owned by hedge funds and other institutional investors.

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.