Pacific Mercantile Bancorp (PMBC) Receiving Somewhat Positive News Coverage, Report Shows

Media headlines about Pacific Mercantile Bancorp (NASDAQ:PMBC) have been trending somewhat positive recently, Accern Sentiment reports. Accern identifies positive and negative press coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Pacific Mercantile Bancorp earned a media sentiment score of 0.20 on Accern’s scale. Accern also gave media coverage about the bank an impact score of 46.4881742151443 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.

Several research firms recently weighed in on PMBC. Hovde Group set a $10.00 price objective on shares of Pacific Mercantile Bancorp and gave the stock a “buy” rating in a research note on Tuesday, January 30th. TheStreet lowered shares of Pacific Mercantile Bancorp from a “b” rating to a “c+” rating in a research note on Tuesday, February 20th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $11.00 price objective on shares of Pacific Mercantile Bancorp in a research note on Wednesday, April 25th.

PMBC traded down $0.20 on Friday, hitting $9.75. 21,500 shares of the company’s stock were exchanged, compared to its average volume of 17,554. The firm has a market cap of $229.70 million, a price-to-earnings ratio of 18.58 and a beta of 0.13. Pacific Mercantile Bancorp has a twelve month low of $7.00 and a twelve month high of $10.00. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.50.

Pacific Mercantile Bancorp (NASDAQ:PMBC) last released its quarterly earnings data on Monday, April 23rd. The bank reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. The firm had revenue of $13.24 million for the quarter. Pacific Mercantile Bancorp had a net margin of 20.82% and a return on equity of 11.11%.

In other Pacific Mercantile Bancorp news, Director Warren T. Finley sold 6,505 shares of the company’s stock in a transaction dated Wednesday, April 25th. The shares were sold at an average price of $9.59, for a total value of $62,382.95. Following the completion of the transaction, the director now owns 4,630 shares in the company, valued at approximately $44,401.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John Md Thomas sold 8,595 shares of the company’s 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 of the company’s stock, valued at approximately $940,814. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,477 shares of company stock valued at $226,626. 3.60% of the stock is owned by insiders.

About Pacific Mercantile Bancorp

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.

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

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