Dalton Greiner Hartman Maher & Co. raised its position in Pacific Mercantile Bancorp (NASDAQ:PMBC) by 4.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 409,958 shares of the bank’s stock after acquiring an additional 18,001 shares during the period. Dalton Greiner Hartman Maher & Co. owned about 1.86% of Pacific Mercantile Bancorp worth $3,329,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of PMBC. BlackRock Inc. raised its holdings in Pacific Mercantile Bancorp by 19.7% in the 2nd quarter. BlackRock Inc. now owns 1,106,903 shares of the bank’s stock valued at $9,132,000 after acquiring an additional 182,045 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Pacific Mercantile Bancorp in the 2nd quarter valued at approximately $748,000. Vanguard Group Inc. grew its stake in shares of Pacific Mercantile Bancorp by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 786,215 shares of the bank’s stock valued at $6,486,000 after purchasing an additional 34,916 shares during the period. Renaissance Technologies LLC grew its stake in shares of Pacific Mercantile Bancorp by 4.5% in the 2nd quarter. Renaissance Technologies LLC now owns 702,400 shares of the bank’s stock valued at $5,795,000 after purchasing an additional 30,500 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of Pacific Mercantile Bancorp in the 3rd quarter valued at approximately $209,000. 70.99% of the stock is owned by hedge funds and other institutional investors.
PMBC has been the topic of several analyst reports. TheStreet lowered Pacific Mercantile Bancorp from a “b-” rating to a “c+” rating in a research note on Friday, October 18th. ValuEngine lowered Pacific Mercantile Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, December 21st.
In other news, EVP Thomas J. Inserra sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $7.05, for a total value of $352,500.00. Following the sale, the executive vice president now directly owns 95,044 shares in the company, valued at approximately $670,060.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 12.30% of the company’s stock.
PMBC stock opened at $7.37 on Thursday. Pacific Mercantile Bancorp has a 1-year low of $6.76 and a 1-year high of $8.91. The firm has a market cap of $165.29 million, a P/E ratio of 17.86 and a beta of 0.62. The business’s 50 day moving average is $7.62 and its 200-day moving average is $7.62. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.39.
Pacific Mercantile Bancorp (NASDAQ:PMBC) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.07 earnings per share for the quarter. Pacific Mercantile Bancorp had a return on equity of 6.85% and a net margin of 13.46%. The company had revenue of $14.09 million for the quarter.
Pacific Mercantile Bancorp Company Profile
Pacific Mercantile Bancorp operates as the holding company for Pacific Mercantile Bank that provides a range of commercial banking products and services to small and medium-size businesses, professional firms, and individuals in Southern California, the United States. The company's deposit products include checking accounts, interest-bearing term deposit accounts, savings and money market deposits, and time deposits.
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