Dimensional Fund Advisors LP Raises Stake in PCB Bancorp (NASDAQ:PCB)

Dimensional Fund Advisors LP increased its stake in shares of PCB Bancorp (NASDAQ:PCB) by 4.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 511,588 shares of the company’s stock after buying an additional 23,925 shares during the quarter. Dimensional Fund Advisors LP’s holdings in PCB Bancorp were worth $10,355,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in PCB. Wells Fargo & Company MN increased its stake in shares of PCB Bancorp by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 6,404 shares of the company’s stock worth $130,000 after purchasing an additional 1,395 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in shares of PCB Bancorp during the 4th quarter valued at $214,000. Barclays PLC grew its stake in shares of PCB Bancorp by 299.2% during the 3rd quarter. Barclays PLC now owns 14,096 shares of the company’s stock worth $265,000 after acquiring an additional 10,565 shares during the period. JPMorgan Chase & Co. increased its holdings in PCB Bancorp by 99.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 21,189 shares of the company’s stock worth $398,000 after acquiring an additional 10,571 shares during the last quarter. Finally, Martingale Asset Management L P bought a new stake in PCB Bancorp in the 4th quarter valued at about $559,000. Institutional investors own 33.04% of the company’s stock.

Analysts Set New Price Targets

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

PCB Bancorp Trading Down 1.2 %

Shares of PCB Bancorp stock opened at $19.93 on Friday. PCB Bancorp has a 12 month low of $14.50 and a 12 month high of $22.20. The business’s 50-day moving average price is $18.68 and its 200-day moving average price is $19.60. The firm has a market capitalization of $286.73 million, a PE ratio of 11.45 and a beta of 0.56.

PCB Bancorp (NASDAQ:PCB) last posted its earnings results on Thursday, April 24th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.02. The company had revenue of $26.86 million for the quarter, compared to analysts’ expectations of $26.40 million. PCB Bancorp had a return on equity of 9.02% and a net margin of 13.45%. As a group, analysts predict that PCB Bancorp will post 2.04 earnings per share for the current fiscal year.

PCB Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.01%. PCB Bancorp’s dividend payout ratio is presently 41.24%.

Insider Buying and Selling

In related news, Director Sang Young Lee acquired 4,504 shares of the stock in a transaction on Thursday, February 13th. The stock was acquired at an average cost of $19.78 per share, for a total transaction of $89,089.12. Following the completion of the acquisition, the director now directly owns 1,530,711 shares of the company’s stock, valued at approximately $30,277,463.58. This represents a 0.30 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 25.86% of the stock is currently 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.