Arrowstreet Capital Limited Partnership Grows Stock Position in PCB Bancorp (NASDAQ:PCB)

Arrowstreet Capital Limited Partnership increased its holdings in PCB Bancorp (NASDAQ:PCB) by 83.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 84,601 shares of the company’s stock after acquiring an additional 38,371 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in PCB Bancorp were worth $1,712,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in PCB. JPMorgan Chase & Co. increased its stake in shares of PCB Bancorp by 93.2% in the 4th quarter. JPMorgan Chase & Co. now owns 40,938 shares of the company’s stock worth $829,000 after purchasing an additional 19,749 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in PCB Bancorp by 122.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,161 shares of the company’s stock valued at $975,000 after purchasing an additional 26,509 shares during the period. Bank of New York Mellon Corp increased its position in PCB Bancorp by 19.8% in the fourth quarter. Bank of New York Mellon Corp now owns 82,023 shares of the company’s stock worth $1,660,000 after buying an additional 13,529 shares in the last quarter. Empowered Funds LLC raised its stake in shares of PCB Bancorp by 4.8% in 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. Finally, Diversify Advisory Services LLC purchased a new position in shares of PCB Bancorp during the 4th quarter valued at about $214,000. 33.04% of the stock is currently owned by institutional investors.

PCB Bancorp Price Performance

Shares of NASDAQ:PCB opened at $17.14 on Friday. The company has a market capitalization of $246.49 million, a P/E ratio of 9.85 and a beta of 0.47. PCB Bancorp has a 1-year low of $14.50 and a 1-year high of $22.20. The firm’s 50 day simple moving average is $19.02 and its two-hundred day simple moving average is $19.49.

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, meeting 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, sell-side analysts anticipate that PCB Bancorp will post 2.04 earnings per share for the current fiscal year.

PCB Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 14th were given a dividend of $0.20 per share. 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 dividend yield of 4.67%. The ex-dividend date was Friday, February 14th. PCB Bancorp’s dividend payout ratio is currently 45.98%.

Insider Activity at PCB Bancorp

In related news, Director Sang Young Lee purchased 4,504 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was 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 directly owns 1,530,711 shares in the company, valued at $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 SEC, which is available at this link. 25.01% of the stock is currently owned by insiders.

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.