PCB Bancorp (NASDAQ:PCB) Price Target Raised to $23.00 at Keefe, Bruyette & Woods

PCB Bancorp (NASDAQ:PCB) had its price objective hoisted by investment analysts at Keefe, Bruyette & Woods from $20.00 to $23.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 6.33% from the company’s current price.

Separately, Piper Sandler upped their price target on PCB Bancorp from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, October 28th.

PCB Bancorp Trading Up 0.1 %

Shares of PCB Bancorp stock traded up $0.03 on Wednesday, reaching $21.63. 13,692 shares of the company were exchanged, compared to its average volume of 23,998. The stock has a fifty day moving average price of $19.42 and a 200-day moving average price of $17.84. The firm has a market capitalization of $308.66 million, a price-to-earnings ratio of 12.80 and a beta of 0.70. PCB Bancorp has a fifty-two week low of $14.50 and a fifty-two week high of $21.91.

PCB Bancorp (NASDAQ:PCB) last announced its earnings results on Thursday, October 24th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. The company had revenue of $48.62 million for the quarter, compared to analyst estimates of $25.50 million. PCB Bancorp had a return on equity of 8.68% and a net margin of 13.27%. On average, equities analysts anticipate that PCB Bancorp will post 1.74 earnings per share for the current fiscal year.

Insider Activity at PCB Bancorp

In other news, Director Don Rhee bought 7,300 shares of the company’s stock in a transaction on Friday, November 29th. The shares were bought at an average cost of $21.22 per share, with a total value of $154,906.00. Following the transaction, the director now directly owns 399,144 shares in the company, valued at approximately $8,469,835.68. This trade represents a 1.86 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Henry Kim bought 3,700 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was purchased at an average cost of $20.35 per share, for a total transaction of $75,295.00. Following the completion of the transaction, the chief executive officer now owns 24,713 shares in the company, valued at approximately $502,909.55. The trade was a 17.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 31,374 shares of company stock valued at $660,622. Company insiders own 25.01% of the company’s stock.

Institutional Trading of PCB Bancorp

Several large investors have recently made changes to their positions in PCB. Vanguard Group Inc. boosted its stake in shares of PCB Bancorp by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 656,732 shares of the company’s stock worth $10,724,000 after acquiring an additional 4,152 shares in the last quarter. Bank of New York Mellon Corp boosted its stake 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 acquiring an additional 4,242 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of PCB Bancorp by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 461,114 shares of the company’s stock worth $7,506,000 after acquiring an additional 26,859 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of 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 acquiring an additional 10,200 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of 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 acquiring an additional 2,546 shares in the last quarter. Institutional investors own 33.04% of the company’s stock.

About PCB Bancorp

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.