Squarepoint Ops LLC Sells 1,299 Shares of PCB Bancorp (NASDAQ:PCB)

Squarepoint Ops LLC trimmed its position in shares of PCB Bancorp (NASDAQ:PCB) by 9.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,194 shares of the company’s stock after selling 1,299 shares during the quarter. Squarepoint Ops LLC owned 0.09% of PCB Bancorp worth $199,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PCB. Empowered Funds LLC raised its position in PCB Bancorp by 8.1% in the 1st quarter. Empowered Funds LLC now owns 46,074 shares of the company’s stock valued at $752,000 after buying an additional 3,434 shares during the last quarter. Vanguard Group Inc. raised its position in PCB Bancorp by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 656,732 shares of the company’s stock valued at $10,724,000 after buying an additional 4,152 shares during the last quarter. Bank of New York Mellon Corp raised its position in PCB Bancorp by 5.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 75,933 shares of the company’s stock valued at $1,236,000 after buying an additional 4,242 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in PCB Bancorp by 51.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 22,391 shares of the company’s stock valued at $366,000 after buying an additional 7,588 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in PCB Bancorp by 24.2% in the 2nd quarter. Renaissance Technologies LLC now owns 52,401 shares of the company’s stock valued at $853,000 after purchasing an additional 10,200 shares during the period. 33.04% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PCB Bancorp

In other PCB Bancorp news, Director Daniel Cho sold 25,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $18.47, for a total value of $461,750.00. Following the completion of the transaction, the director now owns 98,000 shares in the company, valued at $1,810,060. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 25.01% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upped their price objective on PCB Bancorp from $17.00 to $20.00 and gave the company a “market perform” rating in a research note on Monday, July 29th.

PCB Bancorp Stock Up 3.8 %

Shares of NASDAQ:PCB opened at $18.53 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $264.37 million, a PE ratio of 10.59 and a beta of 0.67. PCB Bancorp has a 1 year low of $14.50 and a 1 year high of $20.22. The business has a fifty day moving average price of $18.35 and a two-hundred day moving average price of $16.73.

PCB Bancorp (NASDAQ:PCB) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. The company had revenue of $24.22 million during the quarter, compared to the consensus estimate of $25.10 million. PCB Bancorp had a return on equity of 8.55% and a net margin of 13.37%. Analysts forecast that PCB Bancorp will post 1.65 earnings per share for the current year.

PCB Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 9th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, August 9th. This represents a $0.72 annualized dividend and a dividend yield of 3.89%. PCB Bancorp’s payout ratio is 41.14%.

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.