JPMorgan Chase & Co. Acquires 10,571 Shares of PCB Bancorp (NASDAQ:PCB)

JPMorgan Chase & Co. raised its holdings in PCB Bancorp (NASDAQ:PCB) by 99.6% in the third quarter, HoldingsChannel.com reports. The firm owned 21,189 shares of the company’s stock after purchasing an additional 10,571 shares during the quarter. JPMorgan Chase & Co.’s holdings in PCB Bancorp were worth $398,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in shares of PCB Bancorp by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 461,114 shares of the company’s stock worth $7,506,000 after purchasing an additional 26,859 shares in the last quarter. Renaissance Technologies LLC lifted its position in PCB Bancorp by 24.2% during the second quarter. Renaissance Technologies LLC now owns 52,401 shares of the company’s stock worth $853,000 after purchasing an additional 10,200 shares during the period. Empowered Funds LLC grew its stake in PCB Bancorp by 5.1% during the third quarter. Empowered Funds LLC now owns 52,040 shares of the company’s stock worth $978,000 after buying an additional 2,546 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in PCB Bancorp in the 3rd quarter valued at about $407,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of PCB Bancorp by 6.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 30,841 shares of the company’s stock valued at $580,000 after buying an additional 1,814 shares in the last quarter. Institutional investors and hedge funds own 33.04% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of PCB Bancorp from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler raised their target price on PCB Bancorp from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, October 28th.

PCB Bancorp Trading Down 0.1 %

Shares of NASDAQ PCB opened at $18.98 on Thursday. The company has a market cap of $270.84 million, a price-to-earnings ratio of 11.23 and a beta of 0.71. PCB Bancorp has a 12 month low of $14.50 and a 12 month high of $22.20. The stock has a 50-day moving average price of $20.30 and a two-hundred day moving average price of $19.26.

Insider Activity at PCB Bancorp

In other news, Director Don Rhee purchased 7,300 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were purchased at an average cost of $21.22 per share, with a total value of $154,906.00. Following the completion of the purchase, the director now owns 399,144 shares of the company’s stock, valued at $8,469,835.68. This trade represents a 1.86 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Henry Kim acquired 3,700 shares of the stock in a transaction dated Wednesday, November 6th. The stock was purchased at an average cost of $20.35 per share, with a total value of $75,295.00. Following the purchase, the chief executive officer now directly owns 24,713 shares of the company’s stock, valued at $502,909.55. This trade represents a 17.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 31,374 shares of company stock valued at $660,622. 25.01% of the stock is 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.