Bank of New York Mellon Corp Has $1.66 Million Stake in PCB Bancorp (NASDAQ:PCB)

Bank of New York Mellon Corp raised its holdings in PCB Bancorp (NASDAQ:PCB) by 19.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 82,023 shares of the company’s stock after acquiring an additional 13,529 shares during the period. Bank of New York Mellon Corp owned about 0.57% of PCB Bancorp worth $1,660,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in shares of PCB Bancorp by 0.7% during the third quarter. Geode Capital Management LLC now owns 255,959 shares of the company’s stock worth $4,810,000 after buying an additional 1,751 shares during the period. Empowered Funds LLC boosted its position in shares of PCB Bancorp by 4.8% during the fourth quarter. Empowered Funds LLC now owns 54,550 shares of the company’s stock worth $1,104,000 after buying an additional 2,510 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of PCB Bancorp by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 30,841 shares of the company’s stock worth $580,000 after buying an additional 1,814 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of PCB Bancorp during the third quarter worth about $407,000. Finally, JPMorgan Chase & Co. boosted its position in shares of PCB Bancorp by 99.6% during the third quarter. JPMorgan Chase & Co. now owns 21,189 shares of the company’s stock worth $398,000 after buying an additional 10,571 shares during the period. 33.04% of the stock is owned by institutional investors and hedge funds.

PCB Bancorp Stock Performance

PCB opened at $18.70 on Friday. PCB Bancorp has a 52-week low of $14.50 and a 52-week high of $22.20. The firm has a market capitalization of $268.92 million, a PE ratio of 10.75 and a beta of 0.65. The business’s 50-day simple moving average is $19.38 and its 200 day simple moving average is $19.55.

PCB Bancorp (NASDAQ:PCB) last released its earnings results on Thursday, January 30th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. PCB Bancorp had a return on equity of 9.02% and a net margin of 13.45%. On average, research analysts forecast that PCB Bancorp will post 2.04 earnings per share for the current year.

PCB Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from PCB Bancorp’s previous quarterly dividend of $0.18. PCB Bancorp’s dividend payout ratio is presently 45.98%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other PCB Bancorp news, Director Sang Young Lee acquired 4,504 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $19.78 per share, for a total transaction of $89,089.12. Following the completion of the purchase, the director now directly owns 1,530,711 shares of the company’s stock, valued at approximately $30,277,463.58. This represents a 0.30 % increase in their ownership of the stock. The transaction 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 corporate insiders.

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.