PCB Bancorp (NASDAQ:PCB) Sees Significant Increase in Short Interest

PCB Bancorp (NASDAQ:PCB) saw a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 38,100 shares, an increase of 22.1% from the February 28th total of 31,200 shares. Based on an average daily trading volume, of 24,900 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.3% of the company’s shares are sold short.

PCB Bancorp Stock Performance

Shares of PCB stock traded down $0.01 on Wednesday, hitting $18.49. The stock had a trading volume of 16,808 shares, compared to its average volume of 26,156. The stock’s 50 day moving average is $19.31 and its 200-day moving average is $19.58. The firm has a market capitalization of $265.90 million, a price-to-earnings ratio of 10.63 and a beta of 0.65. PCB Bancorp has a 52-week low of $14.50 and a 52-week high of $22.20.

PCB Bancorp (NASDAQ:PCB) last announced its earnings results on Thursday, January 30th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. PCB Bancorp had a return on equity of 9.02% and a net margin of 13.45%. Equities analysts expect that PCB Bancorp will post 2.04 earnings per share for the current year.

PCB Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were issued a $0.20 dividend. The ex-dividend date was Friday, February 14th. This is a boost from PCB Bancorp’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 4.33%. PCB Bancorp’s dividend payout ratio is currently 45.98%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods boosted their price target on PCB Bancorp from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Insiders Place Their Bets

In related news, Director Sang Young Lee acquired 4,504 shares of PCB Bancorp stock in a transaction on Thursday, February 13th. The shares were bought at an average price of $19.78 per share, for a total transaction of $89,089.12. Following the completion of the purchase, the director now directly owns 1,530,711 shares in the company, valued at $30,277,463.58. This trade represents a 0.30 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 25.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its position in shares of PCB Bancorp by 71.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company’s stock worth $32,000 after purchasing an additional 667 shares during the last quarter. Wells Fargo & Company MN grew its stake in PCB Bancorp by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 6,404 shares of the company’s stock worth $130,000 after purchasing an additional 1,395 shares in the last quarter. Deutsche Bank AG increased its holdings in PCB Bancorp by 39.5% in the fourth quarter. Deutsche Bank AG now owns 7,283 shares of the company’s stock valued at $147,000 after buying an additional 2,063 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in PCB Bancorp during the fourth quarter valued at approximately $186,000. Finally, Diversify Advisory Services LLC acquired a new stake in PCB Bancorp during the fourth quarter valued at approximately $214,000. 33.04% of the stock is currently owned by institutional investors.

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.