PCB Bancorp (NASDAQ:PCB) Short Interest Down 20.2% in February

PCB Bancorp (NASDAQ:PCB) was the recipient of a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 32,000 shares, a decline of 20.2% from the January 31st total of 40,100 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average trading volume of 26,800 shares, the short-interest ratio is presently 1.2 days.

Insider Activity

In related news, Director Sang Young Lee bought 4,504 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average cost of $19.78 per share, for a total transaction of $89,089.12. Following the completion of the transaction, the director now owns 1,530,711 shares of the company’s stock, valued at approximately $30,277,463.58. This trade represents a 0.30 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 25.01% of the company’s stock.

Hedge Funds Weigh In On PCB Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC increased its position in shares of PCB Bancorp by 42.4% in the 4th quarter. Squarepoint Ops LLC now owns 17,312 shares of the company’s stock valued at $350,000 after acquiring an additional 5,155 shares during the period. Millennium Management LLC purchased a new position in shares of PCB Bancorp in the fourth quarter worth about $484,000. Lazard Asset Management LLC purchased a new stake in PCB Bancorp in the fourth quarter valued at approximately $186,000. Deutsche Bank AG boosted its position in PCB Bancorp by 39.5% in the fourth quarter. Deutsche Bank AG now owns 7,283 shares of the company’s stock valued at $147,000 after buying an additional 2,063 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in PCB Bancorp by 1.0% during the 4th quarter. Bridgeway Capital Management LLC now owns 146,850 shares of the company’s stock valued at $2,972,000 after acquiring an additional 1,510 shares during the period. 33.04% of the stock is owned by hedge funds and other institutional investors.

PCB Bancorp Stock Performance

PCB stock traded up $0.49 during midday trading on Thursday, reaching $19.32. The company’s stock had a trading volume of 4,256 shares, compared to its average volume of 24,037. The firm has a market capitalization of $275.57 million, a price-to-earnings ratio of 11.10 and a beta of 0.65. PCB Bancorp has a 1 year low of $14.50 and a 1 year high of $22.20. The stock has a fifty day simple moving average of $19.60 and a two-hundred day simple moving average of $19.55.

PCB Bancorp (NASDAQ:PCB) last issued 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 net margin of 13.45% and a return on equity of 9.02%. As a group, analysts forecast that PCB Bancorp will post 2.04 EPS for the current fiscal year.

PCB Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from PCB Bancorp’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 4.14%. PCB Bancorp’s payout ratio is currently 45.98%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods increased their price objective on shares of PCB Bancorp from $20.00 to $23.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

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.