Short Interest in PCB Bancorp (NASDAQ:PCB) Grows By 22.1%

PCB Bancorp (NASDAQ:PCB) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 38,100 shares, a growth of 22.1% from the February 28th total of 31,200 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 24,900 shares, the days-to-cover ratio is currently 1.5 days.

Insider Buying and Selling

In related news, Director Sang Young Lee acquired 4,504 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average cost of $19.78 per share, for a total transaction of $89,089.12. Following the transaction, the director now directly owns 1,530,711 shares of the company’s stock, valued at approximately $30,277,463.58. This trade represents a 0.30 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 25.01% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its holdings in shares of PCB Bancorp by 71.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company’s stock valued at $32,000 after purchasing an additional 667 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in PCB Bancorp by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 6,404 shares of the company’s stock valued at $130,000 after acquiring an additional 1,395 shares during the last quarter. Deutsche Bank AG boosted its holdings in PCB Bancorp by 39.5% in the fourth quarter. Deutsche Bank AG now owns 7,283 shares of the company’s stock valued at $147,000 after acquiring an additional 2,063 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in PCB Bancorp during the fourth quarter valued at about $186,000. Finally, Diversify Advisory Services LLC acquired a new stake in PCB Bancorp during the fourth quarter worth about $214,000. 33.04% of the stock is currently owned by hedge funds and other institutional investors.

PCB Bancorp Trading Down 0.1 %

Shares of NASDAQ PCB traded down $0.01 during midday trading on Wednesday, reaching $18.49. 16,808 shares of the stock were exchanged, compared to its average volume of 26,156. The stock has a 50 day moving average price of $19.31 and a 200-day moving average price of $19.58. The company has a market capitalization of $265.90 million, a P/E ratio of 10.63 and a beta of 0.65. PCB Bancorp has a 52-week low of $14.50 and a 52-week high of $22.20.

PCB Bancorp (NASDAQ:PCB) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46. PCB Bancorp had a return on equity of 9.02% and a net margin of 13.45%. On average, analysts forecast that PCB Bancorp will post 2.04 earnings per share for the current year.

PCB Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were issued a $0.20 dividend. This is a boost from PCB Bancorp’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, February 14th. This represents a $0.80 annualized dividend and a yield of 4.33%. PCB Bancorp’s payout ratio is 45.98%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upped their price objective on PCB Bancorp from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

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.