Charles Schwab Investment Management Inc. Acquires 1,814 Shares of PCB Bancorp (NASDAQ:PCB)

Charles Schwab Investment Management Inc. increased its holdings in PCB Bancorp (NASDAQ:PCB) by 6.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,841 shares of the company’s stock after purchasing an additional 1,814 shares during the period. Charles Schwab Investment Management Inc. owned 0.22% of PCB Bancorp worth $580,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in shares of PCB Bancorp by 5.9% during the second quarter. Bank of New York Mellon Corp now owns 75,933 shares of the company’s stock valued at $1,236,000 after purchasing an additional 4,242 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in PCB Bancorp by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 461,114 shares of the company’s stock valued at $7,506,000 after buying an additional 26,859 shares in the last quarter. Renaissance Technologies LLC increased its stake in PCB Bancorp by 24.2% in the 2nd quarter. Renaissance Technologies LLC now owns 52,401 shares of the company’s stock worth $853,000 after acquiring an additional 10,200 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of PCB Bancorp by 5.1% during the 3rd quarter. Empowered Funds LLC now owns 52,040 shares of the company’s stock worth $978,000 after acquiring an additional 2,546 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of PCB Bancorp during the 3rd quarter valued at approximately $407,000. Hedge funds and other institutional investors own 33.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Piper Sandler lifted their price target on PCB Bancorp from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Keefe, Bruyette & Woods lifted their target price on PCB Bancorp from $20.00 to $23.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

Insider Activity

In other PCB Bancorp news, CEO Henry Kim acquired 3,700 shares of the stock in a transaction dated Wednesday, November 6th. The stock was purchased at an average price of $20.35 per share, with a total value of $75,295.00. Following the transaction, the chief executive officer now directly owns 24,713 shares of the company’s stock, valued at $502,909.55. This trade represents a 17.61 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Sang Young Lee purchased 8,174 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $20.74 per share, with a total value of $169,528.76. Following the completion of the purchase, the director now owns 1,517,708 shares of the company’s stock, valued at $31,477,263.92. The trade was a 0.54 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 31,374 shares of company stock worth $660,622. 25.01% of the stock is currently owned by corporate insiders.

PCB Bancorp Stock Performance

Shares of PCB stock opened at $20.29 on Thursday. The stock has a 50 day moving average price of $20.21 and a 200 day moving average price of $18.35. The firm has a market capitalization of $289.48 million, a P/E ratio of 12.01 and a beta of 0.70. PCB Bancorp has a 52-week low of $14.50 and a 52-week high of $22.20.

PCB Bancorp (NASDAQ:PCB) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.45 by $0.07. The company had revenue of $48.62 million for the quarter, compared to the consensus estimate of $25.50 million. PCB Bancorp had a net margin of 13.27% and a return on equity of 8.68%. As a group, sell-side analysts forecast that PCB Bancorp will post 1.74 EPS for the current year.

PCB Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.55%. The ex-dividend date was Friday, November 8th. PCB Bancorp’s payout ratio is 42.60%.

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.