Bank of New York Mellon Corp Acquires 4,242 Shares of PCB Bancorp (NASDAQ:PCB)

Bank of New York Mellon Corp raised its holdings in shares of PCB Bancorp (NASDAQ:PCB) by 5.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,933 shares of the company’s stock after buying an additional 4,242 shares during the quarter. Bank of New York Mellon Corp owned about 0.53% of PCB Bancorp worth $1,236,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PCB. Empowered Funds LLC grew its holdings in shares of PCB Bancorp by 8.1% during the first quarter. Empowered Funds LLC now owns 46,074 shares of the company’s stock worth $752,000 after purchasing an additional 3,434 shares in the last quarter. Vanguard Group Inc. lifted its position in PCB Bancorp by 0.6% during the first quarter. Vanguard Group Inc. now owns 656,732 shares of the company’s stock valued at $10,724,000 after purchasing an additional 4,152 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in 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 during the last quarter. 33.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised their price objective 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.

Insiders Place Their Bets

In other PCB Bancorp 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 value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 25.01% of the stock is currently owned by insiders.

PCB Bancorp Price Performance

PCB opened at $18.75 on Friday. 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 stock has a market capitalization of $267.19 million, a P/E ratio of 10.71 and a beta of 0.67. The stock has a 50-day moving average price of $18.39 and a 200-day moving average price of $16.46. PCB Bancorp has a 12-month low of $14.50 and a 12-month high of $20.22.

PCB Bancorp (NASDAQ:PCB) last issued its earnings results on Thursday, July 25th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. PCB Bancorp had a return on equity of 8.55% and a net margin of 13.37%. The business had revenue of $24.22 million during the quarter, compared to analyst estimates of $25.10 million. Equities analysts predict that PCB Bancorp will post 1.66 earnings per share for the current fiscal year.

PCB Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 9th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date was Friday, August 9th. PCB Bancorp’s payout ratio is presently 41.14%.

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.