PCB Bancorp (NASDAQ:PCB) Short Interest Update

PCB Bancorp (NASDAQ:PCB) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 54,800 shares, a drop of 18.9% from the March 31st total of 67,600 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average daily trading volume, of 16,800 shares, the short-interest ratio is presently 3.3 days.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their target price on shares of PCB Bancorp from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday.

Insider Activity

In other news, Director Sang Young Lee acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was purchased at an average price of $16.11 per share, for a total transaction of $32,220.00. Following the completion of the acquisition, the director now directly owns 1,445,971 shares in the company, valued at approximately $23,294,592.81. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders bought a total of 15,509 shares of company stock worth $247,400 in the last three months. Company insiders own 25.01% of the company’s stock.

Institutional Trading of PCB Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in PCB. New York State Common Retirement Fund boosted its holdings in PCB Bancorp by 96.7% during the fourth quarter. New York State Common Retirement Fund now owns 4,882 shares of the company’s stock worth $90,000 after purchasing an additional 2,400 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of PCB Bancorp by 10.9% during the 4th quarter. SG Americas Securities LLC now owns 10,147 shares of the company’s stock worth $187,000 after buying an additional 997 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new position in shares of PCB Bancorp during the 3rd quarter worth approximately $186,000. Hedge funds and other institutional investors own 33.04% of the company’s stock.

PCB Bancorp Stock Down 1.6 %

Shares of PCB Bancorp stock traded down $0.25 on Monday, hitting $15.22. The company had a trading volume of 12,898 shares, compared to its average volume of 18,334. PCB Bancorp has a 1 year low of $12.86 and a 1 year high of $19.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a 50 day moving average of $15.73 and a 200-day moving average of $16.35. The stock has a market capitalization of $217.04 million, a price-to-earnings ratio of 8.70 and a beta of 0.63.

PCB Bancorp (NASDAQ:PCB) last announced its quarterly earnings results on Thursday, January 25th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.07). PCB Bancorp had a return on equity of 9.14% and a net margin of 14.69%. The company had revenue of $24.43 million for the quarter, compared to the consensus estimate of $24.95 million. As a group, sell-side analysts forecast that PCB Bancorp will post 1.7 earnings per share for the current year.

PCB Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 10th will be paid a $0.18 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.72 annualized dividend and a dividend yield of 4.73%. PCB Bancorp’s payout ratio is 41.14%.

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.