PCB Bancorp (NASDAQ:PCB) upgraded to buy from Zacks Investment Research
PCB Bancorp (NASDAQ:PCB – Get an assessment) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note released Friday to investors, Zacks.com reports. The brokerage currently has a target price of $24.00 on the stock. Zacks Investment Research’s target price indicates a potential upside of 13.53% from the company’s current price.
According to Zacks, “PCB Bancorp is a bank holding company which, through its subsidiaries, offers savings accounts, debit and credit cards, personal and business loans, cash management, certificates deposit, online banking, mortgages, wealth management and electronic statements.. PCB Bancorp, formerly known as Pacific City Financial Corp, is based in Los Angeles, USA.
Separately, Raymond James upgraded PCB Bancorp from an “outperforming” rating to a “market performing” rating in a research note on Wednesday.
The NASDAQ PCB opened at $21.14 on Friday. The company has a 50-day simple moving average of $23.17 and a 200-day simple moving average of $22.26. PCB Bancorp has a 52-week low of $13.97 and a 52-week high of $26.04. The company has a market capitalization of $315.28 million, a price-earnings ratio of 8.07 and a beta of 0.77. The company has a debt ratio of 0.04, a current ratio of 1.04 and a quick ratio of 1.02.
PCB Bancorp (NASDAQ:PCB – Get Rating) last announced its quarterly results on Thursday, January 27. The company reported EPS of $0.70 for the quarter, beating the consensus estimate of $0.64 by $0.06. The company posted revenue of $24.93 million for the quarter. PCB Bancorp had a return on equity of 16.32% and a net margin of 40.14%. On average, analysts predict that PCB Bancorp will post an EPS of 2.4 for the current year.
Separately, director Daniel Cho sold 7,597 shares of PCB Bancorp in a trade on Thursday, February 3. The shares were sold at an average price of $23.82, for a total transaction of $180,960.54. The sale was disclosed in a legal filing with the SEC, accessible via this link. Additionally, director Sang Young Lee purchased 17,000 shares of PCB Bancorp in a trade on Tuesday, February 22. The stock was purchased at an average price of $23.81 per share, for a total transaction of $404,770.00. Disclosure of this purchase can be found here. Over the past three months, insiders have purchased 31,170 shares of the company worth $726,255. 22.54% of the shares are held by insiders.
A number of large investors have recently bought and sold shares of PCB. Hillsdale Investment Management Inc. increased its stake in PCB Bancorp shares by 33.3% in the fourth quarter. Hillsdale Investment Management Inc. now owns 3,600 shares of the company worth $79,000 after acquiring an additional 900 shares during the period. Royal Bank of Canada increased its stake in PCB Bancorp shares to 96.1% in the second quarter. Royal Bank of Canada now owns 2,716 shares of the company worth $43,000 after acquiring an additional 1,331 shares during the period. Lazard Asset Management LLC increased its stake in PCB Bancorp shares by 108.1% in the fourth quarter. Lazard Asset Management LLC now owns 2,913 shares of the company worth $63,000 after acquiring 1,513 additional shares during the period. Geode Capital Management LLC increased its stake in PCB Bancorp shares by 2.0% in the third quarter. Geode Capital Management LLC now owns 121,183 shares of the company worth $2,412,000 after acquiring an additional 2,319 shares during the period. Finally, Marshall Wace LLP increased its stake in PCB Bancorp shares by 4.8% in the third quarter. Marshall Wace LLP now owns 55,039 shares of the company worth $1,096,000 after acquiring 2,529 additional shares during the period. 38.17% of the shares are held by institutional investors.
About PCB Bancorp (Get an assessment)
PCB Bancorp operates as a bank holding company for Pacific City Bank which provides various banking products and services to individuals and small and medium businesses in Southern California. The company offers demand, savings, money market and term deposits, as well as certificates of deposit, remote deposit capture, courier deposit services, positive payment services, balance accounts null and sweep counts.
Get a Free Copy of Zacks Research Report on PCB Bancorp (PCB)
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in PCB Bancorp right now?
Before you consider PCB Bancorp, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes hold…and PCB Bancorp was not on the list.
Although PCB Bancorp currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here