Sang Young Lee Buys 2,000 Shares of PCB Bancorp (NASDAQ:PCB) Stock

PCB Bancorp (NASDAQ:PCB) Director Sang Young Lee purchased 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was purchased at an average price of $22.75 per share, for a total transaction of $45,500.00. Following the purchase, the director owned 1,592,961 shares in the company, valued at $36,239,862.75. This represents a 0.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Tuesday, March 3rd, Sang Young Lee bought 92 shares of PCB Bancorp stock. The stock was purchased at an average cost of $22.00 per share, with a total value of $2,024.00.
• On Friday, February 27th, Sang Young Lee purchased 3,027 shares of PCB Bancorp stock. The shares were purchased at an average price of $22.43 per share, for a total transaction of $67,895.61.
• On Monday, February 23rd, Sang Young Lee bought 5,000 shares of PCB Bancorp stock. The shares were acquired at an average price of $22.48 per share, for a total transaction of $112,400.00.

PCB Bancorp Price Performance

PCB stock opened at $22.31 on Friday. The stock has a market capitalization of $318.14 million, a P/E ratio of 8.68 and a beta of 0.56. PCB Bancorp has a 1-year low of $16.00 and a 1-year high of $24.20. The business has a fifty day moving average price of $22.43 and a 200-day moving average price of $21.89.

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

PCB Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 13th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Friday, February 13th. This is a positive change from PCB Bancorp’s previous quarterly dividend of $0.20. PCB Bancorp’s payout ratio is currently 34.24%.

Wall Street Analyst Weigh In

PCB has been the topic of a number of recent research reports. Wall Street Zen raised PCB Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Zacks Research upgraded shares of PCB Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of PCB Bancorp in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.50.

Hedge Funds Weigh In On PCB Bancorp

Several large investors have recently added to or reduced their stakes in PCB. AQR Capital Management LLC bought a new stake in shares of PCB Bancorp during the 1st quarter valued at $220,000. Goldman Sachs Group Inc. increased its stake in PCB Bancorp by 83.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 194,598 shares of the company’s stock worth $3,641,000 after buying an additional 88,589 shares in the last quarter. Empowered Funds LLC raised its holdings in PCB Bancorp by 7.2% during the first quarter. Empowered Funds LLC now owns 58,475 shares of the company’s stock valued at $1,094,000 after acquiring an additional 3,925 shares during the period. Jane Street Group LLC purchased a new position in shares of PCB Bancorp in the first quarter valued at about $272,000. Finally, Strs Ohio bought a new position in shares of PCB Bancorp in the first quarter worth about $94,000. Hedge funds and other 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.