Barclays PLC Increases Stock Position in PCB Bancorp (NASDAQ:PCB)

Barclays PLC boosted its holdings in shares of PCB Bancorp (NASDAQ:PCB) by 299.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,096 shares of the company’s stock after buying an additional 10,565 shares during the quarter. Barclays PLC owned approximately 0.10% of PCB Bancorp worth $265,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position 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 acquiring an additional 26,859 shares in the last quarter. Renaissance Technologies LLC lifted its stake 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 purchasing an additional 10,200 shares during the last quarter. Empowered Funds LLC boosted its position in PCB Bancorp by 5.1% during the third 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in PCB Bancorp in the third quarter valued at about $407,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in PCB Bancorp by 6.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 30,841 shares of the company’s stock worth $580,000 after purchasing an additional 1,814 shares in the last quarter. Institutional investors own 33.04% of the company’s stock.

Analyst Upgrades and Downgrades

PCB has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target 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 raised their target price 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.

PCB Bancorp Stock Performance

PCB Bancorp stock opened at $19.47 on Tuesday. PCB Bancorp has a one year low of $14.50 and a one year high of $22.20. The stock has a market cap of $277.84 million, a PE ratio of 11.52 and a beta of 0.71. The stock has a 50-day moving average of $20.59 and a two-hundred day moving average of $19.08.

PCB Bancorp (NASDAQ:PCB) last released its earnings results on Thursday, October 24th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. PCB Bancorp had a net margin of 13.27% and a return on equity of 8.68%. The company had revenue of $48.62 million during the quarter, compared to analysts’ expectations of $25.50 million. As a group, sell-side analysts predict that PCB Bancorp will post 1.78 EPS for the current fiscal year.

PCB Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Friday, November 8th. PCB Bancorp’s payout ratio is 42.60%.

Insider Activity at PCB Bancorp

In other PCB Bancorp news, Director Don Rhee acquired 7,300 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were purchased at an average price of $21.22 per share, for a total transaction of $154,906.00. Following the completion of the purchase, the director now directly owns 399,144 shares of the company’s stock, valued at $8,469,835.68. The trade was a 1.86 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sang Young Lee bought 8,200 shares of PCB Bancorp stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of $21.46 per share, with a total value of $175,972.00. Following the acquisition, the director now owns 1,526,207 shares of the company’s stock, valued at $32,752,402.22. The trade was a 0.54 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 31,374 shares of company stock valued at $660,622 in the last ninety days. 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.