PCB Bancorp (NASDAQ:PCB) Stock Rating Lowered by Wall Street Zen

PCB Bancorp (NASDAQ:PCB) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

A number of other equities research analysts also recently weighed in on PCB. Zacks Research upgraded PCB Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of PCB Bancorp in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

PCB Bancorp Stock Down 0.4%

PCB Bancorp stock opened at $21.64 on Friday. PCB Bancorp has a 52 week low of $16.00 and a 52 week high of $24.20. The stock has a market cap of $307.94 million, a price-to-earnings ratio of 8.42 and a beta of 0.55. The company’s 50-day moving average price is $22.43 and its two-hundred day moving average price is $21.87. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.11.

PCB Bancorp (NASDAQ:PCB) last issued its quarterly earnings results on Thursday, January 29th. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.37. The company had revenue of $29.17 million during the quarter, compared to analyst estimates of $29.33 million. PCB Bancorp had a net margin of 17.89% and a return on equity of 12.03%. On average, analysts expect that PCB Bancorp will post 2.04 EPS for the current fiscal year.

Insider Activity

In other news, Director Sang Young Lee purchased 2,000 shares of PCB Bancorp stock in a transaction that occurred on Wednesday, March 4th. The stock was acquired at an average price of $22.75 per share, for a total transaction of $45,500.00. Following the transaction, the director owned 1,592,961 shares in the company, valued at $36,239,862.75. The trade was a 0.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders have purchased a total of 10,119 shares of company stock worth $227,820 in the last quarter. 25.01% of the stock is owned by insiders.

Hedge Funds Weigh In On PCB Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co lifted its holdings in shares of PCB Bancorp by 45.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,447 shares of the company’s stock valued at $31,000 after purchasing an additional 453 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of PCB Bancorp by 3,769.6% in the second quarter. Russell Investments Group Ltd. now owns 1,780 shares of the company’s stock worth $37,000 after buying an additional 1,734 shares during the period. Tower Research Capital LLC TRC grew its holdings 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 valued at $40,000 after buying an additional 898 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings 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 valued at $66,000 after buying an additional 2,873 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in PCB Bancorp by 273.4% during the third quarter. BNP Paribas Financial Markets now owns 3,939 shares of the company’s stock valued at $83,000 after buying an additional 2,884 shares during the period. 33.04% of the stock is currently owned by hedge funds and other institutional investors.

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.