Piper Sandler Initiates Coverage Of PCB Bancorp, Anticipates Higher Buybacks Despite Marginal Pressures
Portfolio Pulse from Lekha Gupta
Piper Sandler analyst Matthew T. Clark initiates coverage of PCB Bancorp (NASDAQ:PCB) with a Neutral rating and a price target of $17. Despite concerns about the unguaranteed SBA loan portfolio and pressured net interest margin, Clark expects dividend raises, higher share buybacks, and acquisitions due to PCB's excess capital position.
June 16, 2023 | 6:06 pm
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NEUTRAL IMPACT
Piper Sandler initiates coverage of PCB Bancorp with a Neutral rating and a $17 price target. Analyst expects higher buybacks, dividend raises, and acquisitions despite concerns about unguaranteed SBA loans and pressured net interest margin.
The initiation of coverage by Piper Sandler with a Neutral rating and a $17 price target indicates a neutral short-term impact on PCB's stock price. The analyst's concerns about the unguaranteed SBA loan portfolio and pressured net interest margin are balanced by the expectation of higher buybacks, dividend raises, and acquisitions due to PCB's excess capital position.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100