PCB Bancorp (NASDAQ:PCB) Price Target Lowered to $17.00 at Piper Sandler

PCB Bancorp (NASDAQ:PCB) had its target price decreased by Piper Sandler from $18.00 to $17.00 in a research report report published on Monday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

PCB Bancorp Trading Up 3.6 %

Shares of PCB stock opened at $15.09 on Monday. The stock’s fifty day moving average price is $15.70 and its two-hundred day moving average price is $16.34. The company has a market cap of $215.18 million, a PE ratio of 8.62 and a beta of 0.63. PCB Bancorp has a fifty-two week low of $12.86 and a fifty-two week high of $19.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07.

PCB Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 10th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend is Thursday, May 9th. PCB Bancorp’s dividend payout ratio (DPR) is 41.14%.

Insider Activity at PCB Bancorp

In other news, Director Sang Young Lee acquired 7,215 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were bought at an average price of $15.91 per share, with a total value of $114,790.65. Following the acquisition, the director now directly owns 1,465,199 shares in the company, valued at approximately $23,311,316.09. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have bought a total of 15,509 shares of company stock valued at $247,400 in the last 90 days. 25.01% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PCB Bancorp

Several hedge funds have recently modified their holdings of PCB. New York State Common Retirement Fund lifted its holdings in PCB Bancorp by 96.7% during the 4th quarter. New York State Common Retirement Fund now owns 4,882 shares of the company’s stock worth $90,000 after buying an additional 2,400 shares during the period. SG Americas Securities LLC acquired a new position in PCB Bancorp during the 3rd quarter worth about $141,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in PCB Bancorp during the 3rd quarter worth about $186,000. Institutional investors and hedge funds 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.