Piper Sandler Increases PCB Bancorp (NASDAQ:PCB) Price Target to $21.00

PCB Bancorp (NASDAQ:PCB) had its target price boosted by analysts at Piper Sandler from $20.00 to $21.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s target price suggests a potential upside of 10.64% from the stock’s previous close.

Separately, Keefe, Bruyette & Woods boosted their target price on shares of PCB Bancorp from $17.00 to $20.00 and gave the company a “market perform” rating in a research report on Monday, July 29th.

PCB Bancorp Stock Performance

Shares of PCB Bancorp stock opened at $18.98 on Monday. The business has a 50-day moving average price of $18.51 and a two-hundred day moving average price of $16.95. PCB Bancorp has a 1-year low of $14.50 and a 1-year high of $20.22. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market cap of $270.54 million, a P/E ratio of 11.23 and a beta of 0.67.

PCB Bancorp (NASDAQ:PCB) last issued its earnings results on Thursday, October 24th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. The business had revenue of $48.62 million during the quarter, compared to the consensus estimate of $25.50 million. PCB Bancorp had a return on equity of 8.77% and a net margin of 13.27%. As a group, analysts anticipate that PCB Bancorp will post 1.65 EPS for the current year.

Insiders Place Their Bets

In other news, Director Daniel Cho sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $18.47, for a total transaction of $461,750.00. Following the completion of the sale, the director now owns 98,000 shares in the company, valued at $1,810,060. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 25.01% of the company’s stock.

Hedge Funds Weigh In On PCB Bancorp

Several large investors have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC lifted its position in shares of PCB Bancorp by 51.3% during the first 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. Empowered Funds LLC increased its stake in PCB Bancorp by 8.1% in the 1st quarter. Empowered Funds LLC now owns 46,074 shares of the company’s stock valued at $752,000 after buying an additional 3,434 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of PCB Bancorp by 24.2% during the 2nd quarter. Renaissance Technologies LLC now owns 52,401 shares of the company’s stock worth $853,000 after buying an additional 10,200 shares in the last quarter. 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. Finally, Dimensional Fund Advisors LP grew its holdings in shares of PCB Bancorp by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 461,114 shares of the company’s stock valued at $7,506,000 after acquiring an additional 26,859 shares in 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.