PCB Bancorp (NASDAQ:PCB) Director Sang Young Lee Acquires 3,027 Shares

PCB Bancorp (NASDAQ:PCB) Director Sang Young Lee acquired 3,027 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were purchased at an average cost of $22.43 per share, for a total transaction of $67,895.61. Following the acquisition, the director directly owned 1,590,869 shares in the company, valued at $35,683,191.67. This represents a 0.19% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Sang Young Lee also recently made the following trade(s):

• On Monday, February 23rd, Sang Young Lee acquired 5,000 shares of PCB Bancorp stock. The stock was acquired at an average price of $22.48 per share, with a total value of $112,400.00.

PCB Bancorp Stock Up 0.3%

NASDAQ PCB opened at $22.42 on Tuesday. The stock has a market cap of $319.71 million, a P/E ratio of 8.72 and a beta of 0.55. PCB Bancorp has a twelve month low of $16.00 and a twelve month high of $24.20. The company’s 50-day simple moving average is $22.43 and its 200 day simple moving average is $21.87.

PCB Bancorp (NASDAQ:PCB) last announced its quarterly earnings results on Thursday, January 29th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The firm had revenue of $29.17 million for the quarter, compared to analysts’ expectations of $29.33 million. PCB Bancorp had a return on equity of 12.15% and a net margin of 17.89%. Research analysts anticipate that PCB Bancorp will post 2.04 earnings per share for the current year.

PCB Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 13th were given a dividend of $0.22 per share. This is an increase from PCB Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, February 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.9%. PCB Bancorp’s dividend payout ratio is 34.24%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PCB shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of PCB Bancorp in a research note on Monday, December 29th. Zacks Research raised PCB Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Finally, Wall Street Zen upgraded PCB Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. One 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 stock. According to data from MarketBeat.com, PCB Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

Institutional Investors Weigh In On PCB Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in PCB. CANADA LIFE ASSURANCE Co boosted its stake in 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 acquiring an additional 453 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of PCB Bancorp by 4.9% in the 2nd quarter. Rhumbline Advisers now owns 16,056 shares of the company’s stock valued at $337,000 after purchasing an additional 750 shares during the period. CWM LLC lifted its stake in shares of PCB Bancorp by 61.5% in the 2nd quarter. CWM LLC now owns 2,046 shares of the company’s stock valued at $43,000 after purchasing an additional 779 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of PCB Bancorp by 28.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,033 shares of the company’s stock worth $85,000 after purchasing an additional 882 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake 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. Institutional investors own 33.04% of the company’s stock.

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.