PCB Bancorp (NASDAQ:PCB) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of PCB Bancorp (NASDAQ:PCB) from a hold rating to a strong-buy rating in a research report report published on Monday morning,Zacks reports.

Several other equities research analysts have also recently commented on the company. Keefe, Bruyette & Woods increased their price objective on PCB Bancorp from $29.00 to $29.50 and gave the company a “market perform” rating in a research report on Monday, July 27th. Weiss Ratings reiterated a “buy (a-)” rating on shares of PCB Bancorp in a research note on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $27.75.

PCB Bancorp Price Performance

Shares of NASDAQ PCB opened at $30.62 on Monday. PCB Bancorp has a twelve month low of $20.87 and a twelve month high of $30.83. The firm has a market cap of $430.21 million, a P/E ratio of 10.34 and a beta of 0.49. The company has a 50 day moving average of $28.02 and a 200 day moving average of $25.72. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.27.

PCB Bancorp (NASDAQ:PCB) last issued its earnings results on Thursday, October 29th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.73 by $0.12. The business had revenue of $32.39 million for the quarter, compared to the consensus estimate of $31.93 million. PCB Bancorp had a return on equity of 13.05% and a net margin of 19.92%. As a group, research analysts expect that PCB Bancorp will post 3.02 EPS for the current fiscal year.

PCB Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 13th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, November 13th. PCB Bancorp’s dividend payout ratio (DPR) is presently 29.73%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PCB. Bank of New York Mellon Corp bought a new stake in PCB Bancorp during the second quarter valued at about $1,713,000. BlackRock Inc. purchased a new position in shares of PCB Bancorp in the second quarter valued at about $24,546,000. Empowered Funds LLC purchased a new position in shares of PCB Bancorp in the second quarter valued at about $2,282,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of PCB Bancorp in the second quarter valued at about $2,631,000. Finally, GSA Capital Partners LLP bought a new position in shares of PCB Bancorp in the second quarter worth about $785,000. Hedge funds and other institutional investors own 33.04% of the company’s stock.

PCB Bancorp Company Profile

PCB Bancorp is the bank holding company for PCB Bank, a community bank headquartered in Los Angeles, California. The company provides banking services to individuals, businesses and organizations, with a particular focus on Korean American and other underserved small-business communities.

PCB Bank offers a range of deposit products, including checking, savings, money market and time deposit accounts. Its lending activities include commercial and industrial loans, commercial real estate loans, Small Business Administration loans, residential mortgage loans and consumer loans.