PCB Bancorp (NASDAQ:PCB) Posts Earnings Results

PCB Bancorp (NASDAQ:PCB) issued its quarterly earnings results on Thursday. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.39, FiscalAI reports. The company had revenue of $30.70 million during the quarter, compared to analyst estimates of $31.10 million. PCB Bancorp had a net margin of 19.03% and a return on equity of 12.70%.

PCB Bancorp Trading Down 0.7%

PCB traded down $0.20 during trading on Thursday, reaching $28.90. The company had a trading volume of 43,806 shares, compared to its average volume of 28,240. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.07. PCB Bancorp has a 12-month low of $19.70 and a 12-month high of $30.83. The company has a market cap of $411.25 million, a price-to-earnings ratio of 10.40 and a beta of 0.50. The firm’s 50-day simple moving average is $26.75 and its 200 day simple moving average is $24.24.

Institutional Investors Weigh In On PCB Bancorp

A number of large investors have recently made changes to their positions in the company. AQR Capital Management LLC purchased a new position in PCB Bancorp during the 1st quarter worth approximately $220,000. Goldman Sachs Group Inc. boosted its position in PCB Bancorp by 83.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 194,598 shares of the company’s stock worth $3,641,000 after acquiring an additional 88,589 shares during the period. Empowered Funds LLC boosted its position in PCB Bancorp by 7.2% during the 1st quarter. Empowered Funds LLC now owns 58,475 shares of the company’s stock worth $1,094,000 after acquiring an additional 3,925 shares during the period. Jane Street Group LLC acquired a new stake in shares of PCB Bancorp during the first quarter worth approximately $272,000. Finally, Strs Ohio purchased a new position in PCB Bancorp during the first quarter valued at approximately $94,000. Institutional investors and hedge funds own 33.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PCB shares. Piper Sandler upped their target price on PCB Bancorp from $25.50 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Zacks Research downgraded PCB Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Finally, Weiss Ratings upgraded PCB Bancorp from a “buy (b)” rating to a “buy (a-)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $25.50.

PCB Bancorp Company 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.