LSV Asset Management Sells 9,000 Shares of PCB Bancorp (NASDAQ:PCB)

LSV Asset Management lowered its stake in shares of PCB Bancorp (NASDAQ:PCB) by 1.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 564,799 shares of the company’s stock after selling 9,000 shares during the period. LSV Asset Management owned approximately 3.96% of PCB Bancorp worth $10,409,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PCB. SG Americas Securities LLC raised its position in PCB Bancorp by 10.9% in the 4th quarter. SG Americas Securities LLC now owns 10,147 shares of the company’s stock valued at $187,000 after buying an additional 997 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in PCB Bancorp in the 3rd quarter worth about $186,000. Finally, New York State Common Retirement Fund increased its stake in PCB Bancorp by 96.7% in the 4th quarter. New York State Common Retirement Fund now owns 4,882 shares of the company’s stock valued at $90,000 after buying an additional 2,400 shares during the last quarter. 33.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PCB Bancorp

In other news, Director Sang Young Lee acquired 4,202 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was bought at an average price of $15.95 per share, with a total value of $67,021.90. Following the acquisition, the director now owns 1,451,269 shares in the company, valued at approximately $23,147,740.55. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have bought 15,509 shares of company stock worth $247,400. Insiders own 25.01% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler decreased their price target on PCB Bancorp from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, April 29th.

PCB Bancorp Price Performance

PCB opened at $15.48 on Wednesday. PCB Bancorp has a fifty-two week low of $13.11 and a fifty-two week high of $19.03. The firm has a 50-day moving average of $15.65 and a 200 day moving average of $16.33. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $220.74 million, a P/E ratio of 8.85 and a beta of 0.65.

PCB Bancorp Dividend Announcement

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 issued a $0.18 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.65%. PCB Bancorp’s dividend payout ratio (DPR) is presently 41.14%.

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.