Keefe, Bruyette & Woods Raises PCB Bancorp (NASDAQ:PCB) Price Target to $20.00

PCB Bancorp (NASDAQ:PCB) had its price target hoisted by stock analysts at Keefe, Bruyette & Woods from $17.00 to $20.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential downside of 1.04% from the company’s previous close.

Separately, Piper Sandler lowered their target price on PCB Bancorp from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, April 29th.

PCB Bancorp Trading Up 2.1 %

NASDAQ PCB traded up $0.41 on Monday, hitting $20.21. The company’s stock had a trading volume of 55,114 shares, compared to its average volume of 20,355. PCB Bancorp has a 52-week low of $14.50 and a 52-week high of $20.22. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.18. The company’s 50-day simple moving average is $15.79 and its 200 day simple moving average is $15.96. The firm has a market cap of $343.97 million, a P/E ratio of 11.55 and a beta of 0.67.

PCB Bancorp (NASDAQ:PCB) last released its quarterly earnings data on Thursday, April 25th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.12). PCB Bancorp had a return on equity of 8.60% and a net margin of 13.37%. The business had revenue of $23.94 million during the quarter, compared to analysts’ expectations of $25.15 million. Research analysts predict that PCB Bancorp will post 1.58 EPS for the current fiscal year.

Insider Activity at PCB Bancorp

In related news, Director Sang Young Lee acquired 2,702 shares of PCB Bancorp stock in a transaction that occurred on Monday, June 3rd. The stock was bought at an average price of $15.21 per share, with a total value of $41,097.42. Following the transaction, the director now directly owns 1,488,407 shares in the company, valued at $22,638,670.47. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 16,749 shares of company stock valued at $251,383 in the last 90 days. Corporate insiders own 25.01% of the company’s stock.

Institutional Trading of PCB Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC increased its holdings in shares of PCB Bancorp by 10.9% in the 4th quarter. SG Americas Securities LLC now owns 10,147 shares of the company’s stock worth $187,000 after purchasing an additional 997 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of PCB Bancorp by 96.7% in the 4th quarter. New York State Common Retirement Fund now owns 4,882 shares of the company’s stock worth $90,000 after purchasing an additional 2,400 shares in the last quarter. Empowered Funds LLC increased its holdings 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 purchasing an additional 3,434 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of PCB Bancorp by 0.6% in 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. Finally, Bank of New York Mellon Corp boosted its stake in shares of PCB Bancorp by 5.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 75,933 shares of the company’s stock worth $1,236,000 after buying an additional 4,242 shares during the last quarter. Institutional investors own 33.04% of the company’s stock.

About PCB Bancorp

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.