Insider Activity Report: PCB Bancorp (PCB)

Sang Lee, a director at PCB Bancorp (PCB), recently bought 3,000 shares. The buy increased the director’s stake by less than 1 percent, and came to a total cost of $47,100.

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  • The director has been a recurring buyer over the past 18 months, picking up over 50,000 in shares in total and paying over $1 million. The last insider sale occurred in March, when a director sold 11,000 shares.

    Overall, company insiders own 25.2 percent of shares.

    The California-based bank is down about 10 percent over the past year, lagging the S&P 500 by about 25 percent in total. Despite the fears in the banking sector, PCB has held up well, with revenues declining less than 4 percent.

    The bank currently trades at a slight discount to its book value, goes for about 7 times earnings, and sports a hefty 33 percent profit margin.

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  • Action to take: Shares likely have more upside from here as the banking sector is still lower even as nearly six months have passed since the bank failures in the spring. At current prices, PCB also yields 4.3 percent.

    For traders, PCB stock has been trending higher since the spring, but is still below the crisis high. The January 2024 $17.50 calls, last going for about $0.75, could see mid-double-digit growth in the months ahead.

     

    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.

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