PCB Bancorp (NASDAQ:PCB) sees a significant drop in short-term interest

PCB Bancorp Inc (NASDAQ:PCB) benefited from a sharp decline in short interest in January. As of January 31, there was selling interest totaling 118,300 shares, down 39.5% from the total of 195,400 shares as of January 15. Based on an average daily volume of 50,600 shares, the day-to-cover ratio is currently 2.3 days. Currently, 1.0% of the stock’s shares are sold short.

PCB has been the subject of several recent analyst reports. Zacks Investment Research upgraded PCB Bancorp from a “hold” rating to a “buy” rating and set a target price of $25.00 on the stock in a Wednesday, Feb. 2 research note. Raymond James raised its price target on PCB Bancorp from $21.00 to $24.00 and gave the stock an “outperform” rating in a Monday, November 1 research note.

Separately, director Sang Young Lee purchased 10,300 shares of the company in a transaction that took place on Friday, November 26. The stock was purchased at an average price of $22.09 per share, for a total transaction of $227,527.00. The acquisition was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, director Daniel Cho sold 7,597 shares of the company in a trade that took place on Thursday, February 3. The shares were sold at an average price of $23.82, for a total value of $180,960.54. The disclosure of this sale can be found here. Insiders purchased a total of 27,350 shares of the company valued at $608,974 during the last quarter. Insiders of the company own 22.54% of the shares of the company.

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This company aims to delay aging and now has an exciting Phase 2 trial on the way!

A number of institutional investors and hedge funds have recently increased or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in PCB Bancorp shares by 54.2% during the second quarter. Dimensional Fund Advisors LP now owns 115,900 shares of the company valued at $1,866,000 after purchasing an additional 40,757 shares during the period. Jump Financial LLC bought a new position in PCB Bancorp stock during the second quarter worth approximately $214,000. Ancora Advisors LLC purchased a new position in PCB Bancorp stock during the second quarter valued at approximately $1,008,000. Renaissance Technologies LLC increased its position in PCB Bancorp shares by 44.6% during the second quarter. Renaissance Technologies LLC now owns 79,276 shares of the company valued at $1,276,000 after purchasing an additional 24,444 shares during the period. Finally, Marshall Wace LLP purchased a new position in PCB Bancorp stock during the second quarter worth approximately $845,000. Institutional investors hold 37.38% of the company’s shares.

NASDAQ: PCB opened at $24.52 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt ratio of 0.04. The company’s 50-day simple moving average is $22.80. The company has a market capitalization of $363.93 million, a PE ratio of 9.36 and a beta of 0.85. PCB Bancorp has a 52-week low of $13.22 and a 52-week high of $26.04.

PCB Bancorp Inc (NASDAQ:PCB) last released its results on Thursday, January 27. The company reported earnings per share (EPS) of $0.70 for the quarter, beating Thomson Reuters consensus estimate of $0.64 by $0.06. PCB Bancorp had a return on equity of 16.55% and a net margin of 40.14%. The company had revenue of $24.93 million for the quarter. As a group, research analysts expect PCB Bancorp to post EPS of 2.15 for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 18. Shareholders of record on Friday, February 11 will receive a dividend of $0.15. This represents an annualized dividend of $0.60 and a dividend yield of 2.45%. This is a boost from PCB Bancorp’s previous quarterly dividend of $0.12. The ex-date of this dividend is Thursday, February 10. PCB Bancorp’s payout rate is 22.90%.

Bancorp PCB Company Profile

PCB Bancorp operates as a bank holding company for Pacific City Bank which provides various banking products and services to individuals and small and medium businesses in Southern California. The company offers demand, savings, money market and term deposits, as well as certificates of deposit; and remote deposit capture, courier deposit services, positive pay services, zero balance accounts and transfer accounts.

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