PCB Bancorp (NASDAQ:PCB) Stock Price Down 1.3% - Here's What Happened

Key Points

• PCB Bancorp shares fell 1.3% to $27.38 in Wednesday trading, while volume surged 213% above the average.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $27.75 price target; Keefe, Bruyette & Woods raised its target to $29.50.
• The company beat quarterly EPS estimates ($0.73 versus $0.70) and pays a quarterly dividend of $0.22 per share, equivalent to a 3.2% annualized yield.

Shares of PCB Bancorp (NASDAQ:PCB - Get Free Report) fell 1.3% during mid-day trading on Wednesday. The company traded as low as $27.38 and last traded at $27.38. 99,539 shares traded hands during trading, an increase of 213% from the average daily volume of 31,820 shares. The stock had previously closed at $27.73.

Wall Street Analyst Weigh In

Several brokerages have commented on PCB. Keefe, Bruyette & Woods raised their price objective on PCB Bancorp from $29.00 to $29.50 and gave the company a "market perform" rating in a report on Monday, July 27th. Weiss Ratings reaffirmed a "buy (a-)" rating on shares of PCB Bancorp in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.75.

PCB Bancorp Stock Down 1.3%

The business has a fifty day simple moving average of $27.86 and a 200 day simple moving average of $26.14. The firm has a market cap of $384.69 million, a price-to-earnings ratio of 9.47 and a beta of 0.49. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 1.07.

PCB Bancorp (NASDAQ:PCB - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.03. PCB Bancorp had a return on equity of 12.91% and a net margin of 19.65%.The firm had revenue of $30.70 million for the quarter, compared to analyst estimates of $31.10 million. As a group, equities analysts forecast that PCB Bancorp will post 2.94 EPS for the current fiscal year.

PCB Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, August 7th. PCB Bancorp's payout ratio is 30.45%.

Institutional Investors Weigh In On PCB Bancorp

A number of large investors have recently modified their holdings of the business. Legal & General Group Plc purchased a new position in shares of PCB Bancorp in the second quarter worth about $28,000. Public Employees Retirement System of Ohio acquired a new stake in PCB Bancorp in the 2nd quarter valued at about $60,000. PNC Financial Services Group Inc. raised its holdings in PCB Bancorp by 49.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,298 shares of the company's stock valued at $142,000 after acquiring an additional 2,078 shares during the last quarter. Clifford Swan Investment Counsel LLC purchased a new position in PCB Bancorp in the 2nd quarter worth approximately $201,000. Finally, Bank of America Corp DE purchased a new position in PCB Bancorp in the 2nd quarter worth approximately $223,000. Hedge funds and other institutional investors own 33.04% of the company's stock.

PCB Bancorp Company Profile

PCB Bancorp is the holding company for PCB Bank, a community-focused commercial bank headquartered in Los Angeles, California. The bank primarily serves individuals, small and medium-sized businesses, and commercial customers through its branch network and digital banking services.

PCB Bank offers a range of financial products, including consumer and business checking and savings accounts, certificates of deposit, commercial and industrial loans, commercial real estate financing, residential mortgage loans, and Small Business Administration lending.

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