Pacific Mercantile Bancorp (PMBC) Hits New 1-Year High and Low at $9.95

Pacific Mercantile Bancorp (NASDAQ:PMBC)’s share price hit a new 52-week high and low during trading on Tuesday . The company traded as low as $9.95 and last traded at $9.95, with a volume of 15968 shares. The stock had previously closed at $9.75.

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $10.50 target price on shares of Pacific Mercantile Bancorp in a report 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. Finally, TheStreet cut Pacific Mercantile Bancorp from a “b” rating to a “c+” rating in a report on Tuesday, February 20th.

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The company has a debt-to-equity ratio of 0.52, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $227.23, a P/E ratio of 21.67 and a beta of 0.12.

Pacific Mercantile Bancorp (NASDAQ:PMBC) last posted its quarterly earnings results on Thursday, February 1st. The bank reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.04). The business had revenue of $12.28 million for the quarter. Pacific Mercantile Bancorp had a net margin of 18.68% and a return on equity of 9.68%.

In other news, CAO Nancy A. Gray sold 7,000 shares of Pacific Mercantile Bancorp stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $9.10, for a total value of $63,700.00. Following the sale, the chief accounting officer now directly owns 13,088 shares of the company’s stock, valued at $119,100.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Vertin bought 7,400 shares of Pacific Mercantile Bancorp stock in a transaction dated Monday, March 5th. The stock was purchased at an average cost of $8.59 per share, for a total transaction of $63,566.00. Following the completion of the acquisition, the insider now directly owns 57,425 shares of the company’s stock, valued at approximately $493,280.75. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 14,552 shares of company stock worth $125,450 and have sold 18,972 shares worth $164,243. 3.60% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Endeavour Capital Advisors Inc. increased its holdings in shares of 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 purchasing an additional 107,482 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Pacific Mercantile Bancorp by 62.6% in the fourth quarter. Deutsche Bank AG now owns 48,241 shares of the bank’s stock worth $419,000 after purchasing an additional 18,576 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Pacific Mercantile Bancorp by 5.6% in the fourth quarter. Renaissance Technologies LLC now owns 516,000 shares of the bank’s stock worth $4,515,000 after purchasing an additional 27,300 shares during the last quarter. Kennedy Capital Management Inc. bought a new stake in shares of Pacific Mercantile Bancorp in the fourth quarter worth about $168,000. Finally, BlackRock Inc. increased its holdings in shares of Pacific Mercantile Bancorp by 1.2% in the fourth quarter. BlackRock Inc. now owns 899,728 shares of the bank’s stock worth $7,872,000 after purchasing an additional 11,028 shares during the last quarter. 44.42% of the stock is currently owned by hedge funds and other institutional investors.

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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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