Empowered Funds LLC Buys 2,546 Shares of PCB Bancorp (NASDAQ:PCB)

Empowered Funds LLC increased its stake in PCB Bancorp (NASDAQ:PCB) by 5.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 52,040 shares of the company’s stock after purchasing an additional 2,546 shares during the quarter. Empowered Funds LLC’s holdings in PCB Bancorp were worth $978,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PCB. O Shaughnessy Asset Management LLC lifted its stake in PCB Bancorp by 51.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 22,391 shares of the company’s stock worth $366,000 after purchasing an additional 7,588 shares in the last quarter. Renaissance Technologies LLC grew its position 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. Bank of New York Mellon Corp increased its holdings in shares of PCB Bancorp by 5.9% in the second quarter. Bank of New York Mellon Corp now owns 75,933 shares of the company’s stock worth $1,236,000 after purchasing an additional 4,242 shares during the period. Dimensional Fund Advisors LP raised its position in shares of PCB Bancorp by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 461,114 shares of the company’s stock worth $7,506,000 after buying an additional 26,859 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake 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. 33.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PCB has been the topic of a number of research analyst reports. Piper Sandler upped their target price on PCB Bancorp from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Keefe, Bruyette & Woods upped their price objective on shares of PCB Bancorp from $17.00 to $20.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th.

Insider Buying and Selling at PCB Bancorp

In other PCB Bancorp news, Director Daniel Cho sold 25,000 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $18.47, for a total transaction of $461,750.00. Following the completion of the sale, the director now directly owns 98,000 shares in the company, valued at $1,810,060. This represents a 20.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Sang Young Lee acquired 8,174 shares of PCB Bancorp stock in a transaction dated Monday, November 18th. The shares were bought at an average cost of $20.74 per share, for a total transaction of $169,528.76. Following the completion of the purchase, the director now directly owns 1,517,708 shares of the company’s stock, valued at approximately $31,477,263.92. The trade was a 0.54 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 12,874 shares of company stock worth $265,424 over the last ninety days. Insiders own 25.01% of the company’s stock.

PCB Bancorp Stock Performance

PCB Bancorp stock opened at $21.44 on Friday. PCB Bancorp has a fifty-two week low of $14.50 and a fifty-two week high of $21.60. The stock has a market cap of $305.95 million, a P/E ratio of 12.69 and a beta of 0.67. The firm’s fifty day moving average price is $19.13 and its 200-day moving average price is $17.57.

PCB Bancorp (NASDAQ:PCB) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. PCB Bancorp had a return on equity of 8.68% and a net margin of 13.27%. The business had revenue of $48.62 million for the quarter, compared to the consensus estimate of $25.50 million. On average, analysts predict that PCB Bancorp will post 1.74 earnings per share for the current year.

PCB Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend was Friday, November 8th. PCB Bancorp’s dividend payout ratio is currently 42.60%.

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.