PCB Bancorp (NASDAQ:PCB) Sees Large Drop in Short Interest

PCB Bancorp (NASDAQ:PCB) saw a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 35,300 shares, a drop of 20.0% from the May 15th total of 44,100 shares. Based on an average trading volume of 16,900 shares, the short-interest ratio is currently 2.1 days. Approximately 0.3% of the shares of the stock are sold short.

Insider Activity

In other PCB Bancorp news, Director Sang Young Lee acquired 2,702 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were purchased at an average cost of $15.21 per share, with a total value of $41,097.42. Following the purchase, the director now owns 1,488,407 shares in the company, valued at $22,638,670.47. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders purchased 16,749 shares of company stock worth $251,383. Company insiders own 25.01% of the company’s stock.

Institutional Investors Weigh In On PCB Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of PCB. O Shaughnessy Asset Management LLC raised its stake in shares of PCB Bancorp by 51.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 22,391 shares of the company’s stock valued at $366,000 after purchasing an additional 7,588 shares in the last quarter. Vanguard Group Inc. lifted its holdings in PCB Bancorp by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 656,732 shares of the company’s stock worth $10,724,000 after buying an additional 4,152 shares during the last quarter. Empowered Funds LLC grew its position in shares of PCB Bancorp by 8.1% in the 1st quarter. Empowered Funds LLC now owns 46,074 shares of the company’s stock worth $752,000 after acquiring an additional 3,434 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of PCB Bancorp by 96.7% during the 4th quarter. New York State Common Retirement Fund now owns 4,882 shares of the company’s stock valued at $90,000 after acquiring an additional 2,400 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in PCB Bancorp by 10.9% during the fourth quarter. SG Americas Securities LLC now owns 10,147 shares of the company’s stock worth $187,000 after purchasing an additional 997 shares during the last quarter. 33.04% of the stock is currently owned by hedge funds and other institutional investors.

PCB Bancorp Trading Down 0.1 %

PCB traded down $0.01 on Friday, reaching $14.79. 10,682 shares of the company’s stock were exchanged, compared to its average volume of 13,292. PCB Bancorp has a twelve month low of $14.50 and a twelve month high of $19.03. The company’s 50 day moving average is $15.25 and its 200-day moving average is $16.26. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $211.05 million, a price-to-earnings ratio of 8.45 and a beta of 0.65.

PCB Bancorp (NASDAQ:PCB) last released its quarterly earnings data on Thursday, April 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.12). The company had revenue of $23.94 million during the quarter, compared to analysts’ expectations of $25.15 million. PCB Bancorp had a net margin of 14.69% and a return on equity of 9.09%. Equities analysts predict that PCB Bancorp will post 1.62 earnings per share for the current year.

PCB Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 10th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date was Thursday, May 9th. PCB Bancorp’s payout ratio is 41.14%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler decreased their target price on shares of PCB Bancorp from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th.

PCB Bancorp Company Profile

PCB Bancorp operates as the bank holding company for PCB Bank that provides various banking products and services to small to medium-sized businesses, individuals, and professionals in Southern California. The company offers demand, savings, money market, and time deposits, as well as certificates of deposit; and trade finance, remote deposit capture, courier deposit services, positive pay services, zero balance accounts, and sweep accounts.