Pacific Mercantile Bancorp (NASDAQ:PMBC) was upgraded by TheStreet from a “c+” rating to a “b” rating in a research report issued to clients and investors on Friday, March 9th.
Several other analysts have also recently issued reports on PMBC. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $10.50 target price on shares of Pacific Mercantile Bancorp in a research report on Friday, December 22nd. Hovde Group set a $10.00 target price on Pacific Mercantile Bancorp and gave the company a “buy” rating in a research report on Tuesday, January 30th.
Shares of PMBC stock opened at $9.50 on Friday. Pacific Mercantile Bancorp has a 52-week low of $6.85 and a 52-week high of $9.85. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $220.24, a P/E ratio of 21.00 and a beta of 0.23.
Pacific Mercantile Bancorp (NASDAQ:PMBC) last announced its quarterly earnings data on Thursday, February 1st. The bank reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). Pacific Mercantile Bancorp had a return on equity of 9.68% and a net margin of 18.68%. The firm had revenue of $12.28 million during the quarter.
In other Pacific Mercantile Bancorp news, Director John Md Thomas sold 8,595 shares of Pacific Mercantile Bancorp stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $8.50, for a total transaction of $73,057.50. Following the completion of the transaction, the director now owns 110,684 shares in the company, valued at approximately $940,814. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas J. Inserra bought 6,413 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were acquired at an average price of $8.65 per share, for a total transaction of $55,472.45. Following the completion of the transaction, the executive vice president now directly owns 37,000 shares in the company, valued at $320,050. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 14,552 shares of company stock valued at $125,450 and have sold 18,972 shares valued at $164,243. Corporate insiders own 3.60% of the company’s stock.
Large investors have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in Pacific Mercantile Bancorp in the 4th quarter worth about $102,000. Kennedy Capital Management Inc. acquired a new stake in Pacific Mercantile Bancorp in the 4th quarter worth about $168,000. Nationwide Fund Advisors boosted its holdings in Pacific Mercantile Bancorp by 109.7% in the 2nd quarter. Nationwide Fund Advisors now owns 19,235 shares of the bank’s stock worth $169,000 after buying an additional 10,063 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Pacific Mercantile Bancorp by 482.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,035 shares of the bank’s stock worth $176,000 after buying an additional 16,596 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its stake in Pacific Mercantile Bancorp by 5.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 22,743 shares of the bank’s stock worth $200,000 after purchasing an additional 1,217 shares in the last quarter. Hedge funds and other institutional investors own 44.42% of the company’s stock.
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Pacific Mercantile Bancorp Company Profile
Pacific Mercantile Bancorp is the holding company for Pacific Mercantile Bank (the Bank). The Company’s business operations are conducted by the Bank. It operates through commercial banking segment. The Bank offers its customers different loan products, including commercial loans and credit lines, accounts receivable and inventory financing, Small Business Administration (SBA) guaranteed business loans, and owner-occupied commercial real estate loans.
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