Piper Sandler Cuts PCB Bancorp (NASDAQ:PCB) Price Target to $17.00

PCB Bancorp (NASDAQ:PCB) had its price objective cut by Piper Sandler from $18.00 to $17.00 in a research note published on Monday, Benzinga reports. They currently have a neutral rating on the stock.

PCB Bancorp Stock Performance

PCB opened at $15.09 on Monday. The stock has a market cap of $215.18 million, a PE ratio of 8.62 and a beta of 0.63. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. PCB Bancorp has a 1 year low of $12.86 and a 1 year high of $19.03. The stock’s 50 day simple moving average is $15.70 and its 200-day simple moving average is $16.34.

PCB Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 10th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend is Thursday, May 9th. PCB Bancorp’s dividend payout ratio is 41.14%.

Insiders Place Their Bets

In other PCB Bancorp news, Director Sang Young Lee acquired 4,202 shares of PCB Bancorp stock in a transaction on Thursday, February 22nd. The shares were bought at an average price of $15.95 per share, with a total value of $67,021.90. Following the completion of the purchase, the director now owns 1,451,269 shares in the company, valued at $23,147,740.55. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have acquired 15,509 shares of company stock valued at $247,400. 25.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PCB Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC raised its position in shares of PCB Bancorp by 10.9% during the fourth quarter. SG Americas Securities LLC now owns 10,147 shares of the company’s stock worth $187,000 after acquiring an additional 997 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of PCB Bancorp during the third quarter worth $186,000. Finally, New York State Common Retirement Fund increased its holdings in PCB Bancorp by 96.7% in the fourth quarter. New York State Common Retirement Fund now owns 4,882 shares of the company’s stock valued at $90,000 after purchasing an additional 2,400 shares during the last quarter. Institutional investors own 33.04% of the company’s stock.

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.