PCB Bancorp (NASDAQ:PCB) Cut to Hold at Zacks Investment Research

Zacks Investment Research cut shares of PCB Bancorp (NASDAQ:PCBGet Rating) from a buy rating to a hold rating in a research report sent to investors on Friday morning, Zacks.com reports.

According to Zacks, “PCB Bancorp is a bank holding company which, through its subsidiaries, offers savings accounts, debit and credit cards, personal and business loans, cash management, certificate of deposits, online banking, mortgages, wealth management and e-statements. PCB Bancorp, formerly known as Pacific City Financial Corp, is based in Los Angeles, United States. “

Separately, Raymond James cut shares of PCB Bancorp from an outperform rating to a market perform rating in a report on Wednesday, April 6th.

PCB Bancorp stock opened at $19.00 on Friday. The company has a market cap of $283.96 million, a price-to-earnings ratio of 6.93 and a beta of 0.77. The firm’s fifty day moving average is $21.58 and its 200 day moving average is $22.39. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.04. PCB Bancorp has a 52-week low of $15.04 and a 52-week high of $26.04.

PCB Bancorp (NASDAQ:PCBGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.08. PCB Bancorp had a net margin of 40.19% and a return on equity of 16.65%. On average, equities research analysts anticipate that PCB Bancorp will post 2.55 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 20th. Investors of record on Friday, May 13th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $0.60 dividend on an annualized basis and a yield of 3.16%. PCB Bancorp’s dividend payout ratio is currently 21.90%.

In other PCB Bancorp news, Director Janice Chung purchased 8,700 shares of the business’s stock in a transaction on Tuesday, March 1st. The shares were bought at an average cost of $22.70 per share, for a total transaction of $197,490.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sang Young Lee purchased 2,868 shares of the business’s stock in a transaction on Thursday, February 24th. The shares were acquired at an average price of $22.87 per share, for a total transaction of $65,591.16. The disclosure for this purchase can be found here. Insiders purchased a total of 28,568 shares of company stock worth $667,851 in the last three months. 24.05% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Jane Street Group LLC purchased a new stake in PCB Bancorp during the first quarter worth about $577,000. Royal Bank of Canada grew its position in shares of PCB Bancorp by 68.2% during the first quarter. Royal Bank of Canada now owns 11,657 shares of the company’s stock worth $267,000 after buying an additional 4,725 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of PCB Bancorp during the first quarter worth about $726,000. Wellington Management Group LLP grew its position in shares of PCB Bancorp by 79.8% during the first quarter. Wellington Management Group LLP now owns 178,200 shares of the company’s stock worth $4,090,000 after buying an additional 79,100 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new position in shares of PCB Bancorp during the first quarter worth about $363,000. Institutional investors own 37.85% of the company’s stock.

PCB Bancorp Company Profile (Get Rating)

PCB Bancorp operates as the bank holding company for Pacific City 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 remote deposit capture, courier deposit services, positive pay services, zero balance accounts, and sweep accounts.

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