Barclays PLC Acquires 10,565 Shares of PCB Bancorp (NASDAQ:PCB)

Barclays PLC increased its holdings in shares of PCB Bancorp (NASDAQ:PCB) by 299.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,096 shares of the company’s stock after purchasing an additional 10,565 shares during the period. Barclays PLC owned 0.10% of PCB Bancorp worth $265,000 as of its most recent SEC filing.

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

PCB Bancorp Stock Performance

PCB Bancorp stock opened at $19.93 on Monday. The company’s 50 day simple moving average is $20.64 and its 200-day simple moving average is $18.82. The company has a market capitalization of $284.34 million, a price-to-earnings ratio of 11.79 and a beta of 0.70. PCB Bancorp has a 1 year low of $14.50 and a 1 year high of $22.20.

PCB Bancorp (NASDAQ:PCB) last announced its earnings results on Thursday, October 24th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.07. PCB Bancorp had a net margin of 13.27% and a return on equity of 8.68%. The firm had revenue of $48.62 million for the quarter, compared to the consensus estimate of $25.50 million. Equities analysts expect that PCB Bancorp will post 1.74 earnings per share for the current year.

PCB Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Friday, November 8th. PCB Bancorp’s dividend payout ratio (DPR) is presently 42.60%.

Analyst Upgrades and Downgrades

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

Insider Transactions at PCB Bancorp

In related news, Director Don Rhee purchased 7,300 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was acquired at an average price of $21.22 per share, for a total transaction of $154,906.00. Following the acquisition, the director now directly owns 399,144 shares of the company’s stock, valued at $8,469,835.68. This trade represents a 1.86 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Henry Kim purchased 3,700 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was bought at an average price of $20.35 per share, with a total value of $75,295.00. Following the acquisition, the chief executive officer now directly owns 24,713 shares in the company, valued at approximately $502,909.55. This represents a 17.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 31,374 shares of company stock worth $660,622. Company insiders own 25.01% of the company’s stock.

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.