Arrowstreet Capital Limited Partnership Buys 38,371 Shares of PCB Bancorp (NASDAQ:PCB)

Arrowstreet Capital Limited Partnership grew its stake in shares of PCB Bancorp (NASDAQ:PCB) by 83.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 84,601 shares of the company’s stock after buying an additional 38,371 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.59% of PCB Bancorp worth $1,712,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in PCB Bancorp by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 30,841 shares of the company’s stock valued at $580,000 after acquiring an additional 1,814 shares during the last quarter. Barclays PLC grew its holdings in shares of PCB Bancorp by 299.2% during the 3rd quarter. Barclays PLC now owns 14,096 shares of the company’s stock valued at $265,000 after purchasing an additional 10,565 shares during the last quarter. Geode Capital Management LLC raised its position in PCB Bancorp by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 255,959 shares of the company’s stock worth $4,810,000 after purchasing an additional 1,751 shares during the period. JPMorgan Chase & Co. lifted its stake in PCB Bancorp by 99.6% in the third quarter. JPMorgan Chase & Co. now owns 21,189 shares of the company’s stock worth $398,000 after purchasing an additional 10,571 shares during the last quarter. Finally, Diversify Advisory Services LLC purchased a new stake in PCB Bancorp during the fourth quarter valued at about $214,000. 33.04% of the stock is owned by institutional investors.

PCB Bancorp Price Performance

Shares of PCB stock opened at $17.14 on Friday. The business has a 50-day moving average of $19.02 and a 200 day moving average of $19.49. PCB Bancorp has a 1-year low of $14.50 and a 1-year high of $22.20. The stock has a market capitalization of $246.49 million, a PE ratio of 9.85 and a beta of 0.47.

PCB Bancorp (NASDAQ:PCB) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.46. PCB Bancorp had a net margin of 13.45% and a return on equity of 9.02%. Analysts anticipate that PCB Bancorp will post 2.04 EPS 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 paid a $0.20 dividend. This is an increase from PCB Bancorp’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date of this dividend was Friday, February 14th. PCB Bancorp’s dividend payout ratio is presently 45.98%.

Insiders Place Their Bets

In other PCB Bancorp news, Director Sang Young Lee bought 4,504 shares of PCB Bancorp stock in a transaction dated Thursday, February 13th. The shares were purchased at an average cost of $19.78 per share, with a total value of $89,089.12. Following the transaction, the director now directly owns 1,530,711 shares of the company’s stock, valued at $30,277,463.58. This represents a 0.30 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 25.01% of the stock is currently owned by company insiders.

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.