Ieq Capital LLC Acquires New Position in PCB Bancorp $PCB

Ieq Capital LLC bought a new position in PCB Bancorp (NASDAQ:PCB) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 21,945 shares of the company’s stock, valued at approximately $235,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CANADA LIFE ASSURANCE Co grew its position in PCB Bancorp by 45.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,447 shares of the company’s stock valued at $31,000 after acquiring an additional 453 shares during the last quarter. Russell Investments Group Ltd. raised its stake 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 acquiring an additional 1,734 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of PCB Bancorp by 88.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,916 shares of the company’s stock worth $40,000 after acquiring an additional 898 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of PCB Bancorp by 273.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,939 shares of the company’s stock worth $83,000 after acquiring an additional 2,884 shares during the last quarter. Finally, Strs Ohio purchased a new stake in shares of PCB Bancorp in the 1st quarter valued at $94,000. Hedge funds and other institutional investors own 33.04% of the company’s stock.

PCB Bancorp Stock Performance

Shares of PCB opened at $27.49 on Monday. The stock has a market capitalization of $386.23 million, a P/E ratio of 9.51 and a beta of 0.49. PCB Bancorp has a twelve month low of $19.70 and a twelve month high of $30.83. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $28.31 and a two-hundred day simple moving average of $25.31.

PCB Bancorp (NASDAQ:PCB) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. The firm had revenue of $30.70 million for the quarter, compared to analysts’ expectations of $31.10 million. PCB Bancorp had a net margin of 19.65% and a return on equity of 12.91%. On average, research analysts anticipate that PCB Bancorp will post 2.94 EPS for the current year.

PCB Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 7th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Friday, August 7th. PCB Bancorp’s payout ratio is currently 30.45%.

Wall Street Analyst Weigh In

PCB has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of PCB Bancorp in a report on Friday, August 7th. Keefe, Bruyette & Woods upped their price target on shares of PCB Bancorp from $29.00 to $29.50 and gave the company a “market perform” rating in a research report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, PCB Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $27.75.

PCB Bancorp Profile

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.