Two Sigma Investments LP Lowers Position in PCB Bancorp (NASDAQ:PCB)

Two Sigma Investments LP cut its holdings in PCB Bancorp (NASDAQ:PCB) by 4.8% in the fourth quarter, Holdings Channel reports. The fund owned 17,229 shares of the company’s stock after selling 877 shares during the quarter. Two Sigma Investments LP’s holdings in PCB Bancorp were worth $349,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Rhino Investment Partners Inc lifted its stake in PCB Bancorp by 50.9% in the fourth quarter. Rhino Investment Partners Inc now owns 609,931 shares of the company’s stock worth $12,345,000 after acquiring an additional 205,668 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of PCB Bancorp by 4.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 511,588 shares of the company’s stock valued at $10,355,000 after buying an additional 23,925 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in shares of PCB Bancorp by 1.0% during the fourth quarter. Bridgeway Capital Management LLC now owns 146,850 shares of the company’s stock valued at $2,972,000 after buying an additional 1,510 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of PCB Bancorp by 83.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 84,601 shares of the company’s stock valued at $1,712,000 after buying an additional 38,371 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of PCB Bancorp by 19.8% during the fourth quarter. Bank of New York Mellon Corp now owns 82,023 shares of the company’s stock valued at $1,660,000 after buying an additional 13,529 shares during the last quarter. 33.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods increased their price objective on shares of PCB Bancorp from $21.00 to $23.00 and gave the company a “market perform” rating in a research report on Tuesday, April 29th.

PCB Bancorp Stock Up 2.6%

Shares of PCB Bancorp stock opened at $20.10 on Wednesday. The firm has a market capitalization of $289.18 million, a P/E ratio of 11.55 and a beta of 0.56. The company has a 50 day moving average price of $19.17 and a 200 day moving average price of $19.58. 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 quarterly earnings data on Thursday, April 24th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.51 by $0.02. The firm had revenue of $26.86 million during the quarter, compared to analyst estimates of $26.40 million. PCB Bancorp had a net margin of 13.45% and a return on equity of 9.02%. As a group, research analysts anticipate that PCB Bancorp will post 2.04 earnings per share for the current fiscal year.

PCB Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were issued a $0.20 dividend. The ex-dividend date was Friday, May 9th. This represents a $0.80 annualized dividend and a yield of 3.98%. PCB Bancorp’s dividend payout ratio (DPR) is presently 41.24%.

PCB Bancorp 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.