Thomas J. Inserra Buys 6,413 Shares of Pacific Mercantile Bancorp (NASDAQ:PMBC) Stock

Pacific Mercantile Bancorp (NASDAQ:PMBC) EVP Thomas J. Inserra purchased 6,413 shares of Pacific Mercantile Bancorp stock in a transaction that occurred on Monday, February 5th. The stock was purchased at an average cost of $8.65 per share, for a total transaction of $55,472.45. Following the completion of the purchase, the executive vice president now owns 37,000 shares of the company’s stock, valued at $320,050. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Pacific Mercantile Bancorp (NASDAQ PMBC) traded down $0.10 during trading on Thursday, reaching $8.25. The company’s stock had a trading volume of 21,000 shares, compared to its average volume of 14,179. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.29. Pacific Mercantile Bancorp has a twelve month low of $6.85 and a twelve month high of $9.85. The company has a market capitalization of $193.99, a P/E ratio of 18.56 and a beta of 0.18.

Pacific Mercantile Bancorp (NASDAQ:PMBC) last released its earnings results on Thursday, February 1st. The bank reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.04). Pacific Mercantile Bancorp had a return on equity of 9.82% and a net margin of 18.68%. The company had revenue of $12.28 million during the quarter.

Several equities research analysts recently weighed in on PMBC shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $10.50 price target on shares of Pacific Mercantile Bancorp in a research note on Friday, December 22nd. Hovde Group set a $10.00 target price on Pacific Mercantile Bancorp and gave the stock a “buy” rating in a report on Tuesday, January 30th.

A number of institutional investors have recently added to or reduced their stakes in the business. Endeavour Capital Advisors Inc. boosted its holdings in Pacific Mercantile Bancorp by 5.7% in the fourth quarter. Endeavour Capital Advisors Inc. now owns 1,991,432 shares of the bank’s stock worth $17,425,000 after acquiring an additional 107,482 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Pacific Mercantile Bancorp by 1.2% during the fourth quarter. BlackRock Inc. now owns 899,728 shares of the bank’s stock valued at $7,872,000 after purchasing an additional 11,028 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Pacific Mercantile Bancorp by 5.6% during the fourth quarter. Renaissance Technologies LLC now owns 516,000 shares of the bank’s stock valued at $4,515,000 after purchasing an additional 27,300 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Pacific Mercantile Bancorp by 5.3% during the third quarter. Dimensional Fund Advisors LP now owns 472,100 shares of the bank’s stock valued at $4,320,000 after purchasing an additional 23,578 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Pacific Mercantile Bancorp by 5.5% during the second quarter. State Street Corp now owns 217,795 shares of the bank’s stock valued at $1,915,000 after purchasing an additional 11,415 shares in the last quarter. 48.45% of the stock is currently owned by institutional investors and hedge funds.

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About Pacific Mercantile Bancorp

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.

Insider Buying and Selling by Quarter for Pacific Mercantile Bancorp (NASDAQ:PMBC)

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