PCB Bancorp (NASDAQ:PCB – Get Free Report) had its price target increased by analysts at Piper Sandler from $20.00 to $21.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 12.96% from the company’s previous close.
Separately, Keefe, Bruyette & Woods raised their target price on PCB Bancorp from $17.00 to $20.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.
PCB Bancorp Stock Up 1.0 %
PCB Bancorp (NASDAQ:PCB – Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.07. The firm had revenue of $48.62 million for the quarter, compared to the consensus estimate of $25.50 million. PCB Bancorp had a net margin of 13.37% and a return on equity of 8.55%. On average, analysts forecast that PCB Bancorp will post 1.65 EPS for the current year.
Insider Buying and Selling at PCB Bancorp
In other news, Director Daniel Cho sold 25,000 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $18.47, for a total value of $461,750.00. Following the sale, the director now owns 98,000 shares in the company, valued at $1,810,060. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 25.01% of the company’s stock.
Hedge Funds Weigh In On PCB Bancorp
Several institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in PCB Bancorp by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 461,114 shares of the company’s stock valued at $7,506,000 after acquiring an additional 26,859 shares in the last quarter. Renaissance Technologies LLC increased its holdings 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 valued at $853,000 after purchasing an additional 10,200 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of PCB Bancorp by 51.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 22,391 shares of the company’s stock valued at $366,000 after purchasing an additional 7,588 shares during the period. Bank of New York Mellon Corp boosted its holdings in PCB Bancorp by 5.9% during the second quarter. Bank of New York Mellon Corp now owns 75,933 shares of the company’s stock worth $1,236,000 after buying an additional 4,242 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in PCB Bancorp by 0.6% during the first quarter. Vanguard Group Inc. now owns 656,732 shares of the company’s stock valued at $10,724,000 after buying an additional 4,152 shares during the period. Institutional investors and hedge funds own 33.04% of the company’s stock.
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.
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