JPMorgan Chase & Co. Acquires 10,571 Shares of PCB Bancorp (NASDAQ:PCB)

JPMorgan Chase & Co. lifted its holdings in PCB Bancorp (NASDAQ:PCB) by 99.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,189 shares of the company’s stock after buying an additional 10,571 shares during the quarter. JPMorgan Chase & Co. owned about 0.15% of PCB Bancorp worth $398,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Barclays PLC boosted its position in PCB Bancorp by 299.2% in the 3rd quarter. Barclays PLC now owns 14,096 shares of the company’s stock valued at $265,000 after buying an additional 10,565 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in PCB Bancorp in the third quarter valued at about $407,000. Charles Schwab Investment Management Inc. increased its position 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 during the period. Renaissance Technologies LLC raised its holdings in 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. Finally, Empowered Funds LLC lifted its position in PCB Bancorp by 5.1% during 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 period. Institutional investors and hedge funds own 33.04% of the company’s stock.

Analyst Upgrades and Downgrades

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

PCB Bancorp Trading Down 0.1 %

Shares of PCB opened at $18.98 on Thursday. The stock has a market capitalization of $270.84 million, a price-to-earnings ratio of 11.23 and a beta of 0.71. PCB Bancorp has a 12 month low of $14.50 and a 12 month high of $22.20. The firm has a fifty day simple moving average of $20.30 and a 200 day simple moving average of $19.26.

Insider Buying and Selling at PCB Bancorp

In other PCB Bancorp news, Director Sang Young Lee bought 8,174 shares of PCB Bancorp stock in a transaction dated Monday, November 18th. The stock was bought at an average cost of $20.74 per share, for a total transaction of $169,528.76. Following 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Don Rhee bought 7,300 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were acquired at an average cost of $21.22 per share, for a total transaction of $154,906.00. Following the completion of the acquisition, the director now directly owns 399,144 shares in the company, valued at $8,469,835.68. The trade was a 1.86 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 31,374 shares of company stock worth $660,622 over the last ninety days. 25.01% of the stock is currently owned by corporate insiders.

PCB Bancorp 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.