Hillsdale Investment Management Inc. Has $2.19 Million Position in PCB Bancorp $PCB

Hillsdale Investment Management Inc. increased its holdings in shares of PCB Bancorp (NASDAQ:PCB) by 233.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,987 shares of the company’s stock after acquiring an additional 70,717 shares during the quarter. Hillsdale Investment Management Inc. owned about 0.71% of PCB Bancorp worth $2,186,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC acquired a new position in shares of PCB Bancorp during the 1st quarter worth approximately $220,000. Lazard Asset Management LLC boosted its stake in PCB Bancorp by 26.7% in the 3rd quarter. Lazard Asset Management LLC now owns 10,038 shares of the company’s stock valued at $211,000 after purchasing an additional 2,116 shares during the period. Thrivent Financial for Lutherans bought a new stake in PCB Bancorp in the 2nd quarter valued at $204,000. Raymond James Financial Inc. bought a new stake in PCB Bancorp in the 2nd quarter valued at $145,000. Finally, Strs Ohio bought a new stake in PCB Bancorp in the 1st quarter valued at $94,000. 33.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PCB shares. Weiss Ratings upgraded PCB Bancorp from a “buy (b)” rating to a “buy (a-)” rating in a research note on Monday, May 11th. Zacks Research downgraded PCB Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Piper Sandler boosted their price target on PCB Bancorp from $25.50 to $26.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Finally, Wall Street Zen downgraded PCB Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, PCB Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.50.

PCB Bancorp Stock Performance

PCB opened at $24.57 on Monday. The business has a fifty day simple moving average of $23.75 and a 200 day simple moving average of $22.80. The company has a market capitalization of $349.63 million, a PE ratio of 8.84 and a beta of 0.53. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.07 and a quick ratio of 1.06. PCB Bancorp has a 1 year low of $18.78 and a 1 year high of $25.15.

PCB Bancorp (NASDAQ:PCB) last released its earnings results on Thursday, April 23rd. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.07. The firm had revenue of $30.18 million during the quarter, compared to the consensus estimate of $31.10 million. PCB Bancorp had a return on equity of 12.70% and a net margin of 19.03%. Research analysts expect that PCB Bancorp will post 2.95 EPS for the current year.

PCB Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Friday, May 8th. PCB Bancorp’s dividend payout ratio is presently 31.65%.

Insider Buying and Selling at PCB Bancorp

In related news, Director Sang Young Lee bought 2,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was purchased at an average cost 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 27.00% 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.