PCB Bancorp (NASDAQ:PCB) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Key Points

• Keefe, Bruyette & Woods raised PCB Bancorp’s price target to $29.50 from $29.00 while maintaining a “market perform” rating, implying roughly 6% upside. Analysts overall assign the stock a “Moderate Buy” consensus rating with an average target of $27.75.
• PCB Bancorp reported quarterly EPS of $0.73, exceeding the $0.70 consensus estimate, while revenue of $30.7 million fell slightly short of expectations.
• The stock traded down 0.9% to $27.82, and institutional investors and hedge funds own approximately 33.04% of outstanding shares.

PCB Bancorp (NASDAQ:PCB - Get Free Report) had its price target lifted by research analysts at Keefe, Bruyette & Woods from $29.00 to $29.50 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price objective would suggest a potential upside of 6.04% from the stock's current price.

Other research analysts have also issued research reports about the stock. Zacks Research lowered shares of PCB Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 2nd. Piper Sandler boosted 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. Finally, Weiss Ratings upgraded shares of PCB Bancorp from a "buy (b)" rating to a "buy (a-)" rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, PCB Bancorp has an average rating of "Moderate Buy" and an average target price of $27.75.

PCB Bancorp Trading Down 0.9%

PCB stock traded down $0.26 during midday trading on Monday, hitting $27.82. 11,993 shares of the company's stock were exchanged, compared to its average volume of 28,427. The business has a 50-day simple moving average of $26.95 and a two-hundred day simple moving average of $24.33. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $395.88 million, a PE ratio of 9.63 and a beta of 0.50. PCB Bancorp has a 1-year low of $19.70 and a 1-year high of $30.83.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.70 by $0.03. The business had revenue of $30.70 million for the quarter, compared to analyst estimates of $31.10 million. PCB Bancorp had a return on equity of 13.01% and a net margin of 19.65%. On average, sell-side analysts predict that PCB Bancorp will post 2.95 EPS for the current fiscal year.

Institutional Investors Weigh In On PCB Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of PCB. AQR Capital Management LLC purchased a new stake in PCB Bancorp in the 1st quarter valued at $220,000. Goldman Sachs Group Inc. boosted its stake in shares of PCB Bancorp by 83.6% during the first quarter. Goldman Sachs Group Inc. now owns 194,598 shares of the company's stock worth $3,641,000 after buying an additional 88,589 shares during the period. Empowered Funds LLC grew its holdings in shares of PCB Bancorp by 7.2% during the first quarter. Empowered Funds LLC now owns 58,475 shares of the company's stock worth $1,094,000 after buying an additional 3,925 shares during the last quarter. Jane Street Group LLC acquired a new position in PCB Bancorp in the 1st quarter valued at about $272,000. Finally, Strs Ohio purchased a new stake in PCB Bancorp during the 1st quarter valued at approximately $94,000. 33.04% of the stock is currently owned by institutional investors and hedge funds.

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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