PCB Bancorp's (PCB) "Buy (B-)" Rating Reiterated at Weiss Ratings

Key Points

• PCB Bancorp's stock has been given a "Buy (B-)" rating by Weiss Ratings, indicating positive sentiment from analysts towards the company's future performance.
• Keefe, Bruyette & Woods has increased their target price for PCB Bancorp to $23.50, reflecting improved expectations for the company's stock.
• Insider buying activity has been noted, with Director Don Rhee and Director Sang Young Lee increasing their stakes in the company, suggesting confidence in PCB Bancorp's prospects.

PCB Bancorp (NASDAQ:PCB - Get Free Report)'s stock had its "buy (b-)" rating reiterated by research analysts at Weiss Ratings in a research note issued to investors on Tuesday,Weiss Ratings reports.

Separately, Keefe, Bruyette & Woods lifted their target price on 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 company. According to MarketBeat.com, PCB Bancorp has an average rating of "Hold" and a consensus price target of $22.25.

PCB Bancorp Stock Performance

NASDAQ:PCB traded up $0.56 during midday trading on Tuesday, reaching $20.64. 19,587 shares of the company traded hands, compared to its average volume of 29,284. PCB Bancorp has a twelve month low of $16.00 and a twelve month high of $22.45. The firm has a market capitalization of $296.11 million, a price-to-earnings ratio of 9.67 and a beta of 0.58. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.06 and a quick ratio of 1.06. The company has a fifty day moving average price of $21.35 and a 200 day moving average price of $20.42.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last released its quarterly earnings data on Wednesday, May 24th. The company reported $0.85 earnings per share (EPS) for the quarter. The business had revenue of $24.15 million during the quarter. PCB Bancorp had a return on equity of 10.58% and a net margin of 15.82%. On average, analysts expect that PCB Bancorp will post 2.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Don Rhee acquired 10,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were bought at an average price of $20.13 per share, with a total value of $201,300.00. Following the purchase, the director owned 419,044 shares of the company's stock, valued at approximately $8,435,355.72. This represents a 2.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sang Young Lee acquired 18,200 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was purchased at an average cost of $21.45 per share, for a total transaction of $390,390.00. Following the purchase, the director directly owned 1,569,210 shares in the company, valued at approximately $33,659,554.50. This represents a 1.17% increase in their position. The disclosure for this purchase can be found here. 25.01% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PCB Bancorp

Institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its position in shares of PCB Bancorp by 3,769.6% during the second quarter. Russell Investments Group Ltd. now owns 1,780 shares of the company's stock worth $37,000 after purchasing an additional 1,734 shares during the period. Tower Research Capital LLC TRC raised its position in shares of PCB Bancorp by 88.2% during the second quarter. Tower Research Capital LLC TRC now owns 1,916 shares of the company's stock worth $40,000 after purchasing an additional 898 shares during the period. CWM LLC raised its position in shares of PCB Bancorp by 61.5% during the second quarter. CWM LLC now owns 2,046 shares of the company's stock worth $43,000 after purchasing an additional 779 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of PCB Bancorp during the second quarter worth $44,000. Finally, PNC Financial Services Group Inc. raised its position in shares of PCB Bancorp by 1,033.5% during the second quarter. PNC Financial Services Group Inc. now owns 3,151 shares of the company's stock worth $66,000 after purchasing an additional 2,873 shares during the period. 33.04% of the stock is owned by institutional investors and hedge funds.

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.

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