State Street Corp Sells 5,580 Shares of PCB Bancorp (NASDAQ:PCB)

State Street Corp lowered its holdings in shares of PCB Bancorp (NASDAQ:PCB) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 172,891 shares of the company’s stock after selling 5,580 shares during the quarter. State Street Corp owned 1.21% of PCB Bancorp worth $3,249,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of PCB Bancorp by 6.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 30,841 shares of the company’s stock worth $580,000 after acquiring an additional 1,814 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of PCB Bancorp in the 3rd quarter worth about $407,000. Bank of New York Mellon Corp lifted its holdings in shares of PCB Bancorp by 5.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 75,933 shares of the company’s stock worth $1,236,000 after acquiring an additional 4,242 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of PCB Bancorp by 5.1% in the 3rd quarter. Empowered Funds LLC now owns 52,040 shares of the company’s stock worth $978,000 after acquiring an additional 2,546 shares during the last quarter. Finally, Renaissance Technologies LLC lifted 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 valued at $853,000 after buying an additional 10,200 shares in the last quarter. Institutional investors own 33.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PCB shares. Piper Sandler lifted their price objective on shares of PCB Bancorp from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Keefe, Bruyette & Woods lifted their price objective 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.

Insider Buying and Selling at PCB Bancorp

In other news, Director Sang Young Lee acquired 8,200 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were purchased at an average price of $21.46 per share, with a total value of $175,972.00. Following the transaction, the director now directly owns 1,526,207 shares in the company, valued at approximately $32,752,402.22. This represents a 0.54 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Henry Kim acquired 3,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was purchased at an average cost of $21.44 per share, for a total transaction of $64,320.00. Following the transaction, the chief executive officer now owns 22,785 shares in the company, valued at approximately $488,510.40. The trade was a 15.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 31,374 shares of company stock valued at $660,622. Company insiders own 25.01% of the company’s stock.

PCB Bancorp Price Performance

Shares of PCB opened at $20.18 on Tuesday. The firm has a market capitalization of $287.91 million, a price-to-earnings ratio of 11.94 and a beta of 0.70. The company has a 50-day moving average of $20.45 and a 200 day moving average of $18.64. PCB Bancorp has a 1-year low of $14.50 and a 1-year high of $22.20.

PCB Bancorp (NASDAQ:PCB) last posted its earnings results on Thursday, October 24th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. The business had revenue of $48.62 million for the quarter, compared to the consensus estimate of $25.50 million. PCB Bancorp had a net margin of 13.27% and a return on equity of 8.68%. On average, equities analysts anticipate that PCB Bancorp will post 1.74 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, November 15th. Shareholders of record on Friday, November 8th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend was Friday, November 8th. PCB Bancorp’s dividend payout ratio (DPR) is 42.60%.

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.