Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 21,652 PCB Bancorp (NASDAQ:PCB)

Connor Clark & Lunn Investment Management Ltd. bought a new position in PCB Bancorp (NASDAQ:PCB) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,652 shares of the company’s stock, valued at approximately $407,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.15% of PCB Bancorp at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PCB. Empowered Funds LLC boosted 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 worth $978,000 after buying an additional 2,546 shares during the period. Vanguard Group Inc. grew its stake in PCB Bancorp by 0.6% during the first quarter. Vanguard Group Inc. now owns 656,732 shares of the company’s stock worth $10,724,000 after purchasing an additional 4,152 shares during the period. Bank of New York Mellon Corp grew its position in shares of PCB Bancorp by 5.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 75,933 shares of the company’s stock worth $1,236,000 after buying an additional 4,242 shares during the period. Renaissance Technologies LLC grew its holdings in PCB Bancorp by 24.2% in the second 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 period. Finally, Dimensional Fund Advisors LP increased its position in PCB Bancorp by 6.2% in 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. Institutional investors own 33.04% of the company’s stock.

Insider Activity at PCB Bancorp

In other PCB Bancorp news, CEO Henry Kim bought 3,700 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were acquired at an average cost of $20.35 per share, for a total transaction of $75,295.00. Following the purchase, the chief executive officer now owns 24,713 shares in the company, valued at approximately $502,909.55. This trade represents a 17.61 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sang Young Lee bought 8,174 shares of the stock in a transaction on Monday, November 18th. The shares were bought at an average price of $20.74 per share, for a total transaction of $169,528.76. Following the purchase, the director now directly owns 1,517,708 shares in the company, valued at approximately $31,477,263.92. This trade represents a 0.54 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 24,074 shares of company stock worth $505,716 over the last quarter. Corporate insiders own 25.01% of the company’s stock.

PCB Bancorp Trading Up 2.3 %

PCB stock opened at $21.49 on Friday. The company’s 50 day moving average is $19.37 and its 200 day moving average is $17.77. The stock has a market cap of $306.66 million, a price-to-earnings ratio of 12.72 and a beta of 0.67. PCB Bancorp has a 1-year low of $14.50 and a 1-year high of $21.62.

PCB Bancorp (NASDAQ:PCB) last posted its quarterly 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 business had revenue of $48.62 million during the quarter, compared to the consensus estimate of $25.50 million. As a group, sell-side analysts forecast that PCB Bancorp will post 1.74 EPS for the current fiscal year.

PCB Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a $0.18 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.35%. PCB Bancorp’s dividend payout ratio is currently 42.60%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler upped their price target 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 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.