A number of other brokerages have also commented 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 shares of Pacific Mercantile Bancorp and gave the stock a “buy” rating in a research report on Tuesday, January 30th.
Pacific Mercantile Bancorp (NASDAQ:PMBC) opened at $9.30 on Friday. The company has a market cap of $216.74, a P/E ratio of 20.67 and a beta of 0.23. Pacific Mercantile Bancorp has a 1 year low of $6.85 and a 1 year 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.
In related news, CAO Nancy A. Gray sold 7,000 shares of Pacific Mercantile Bancorp stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $9.10, for a total transaction of $63,700.00. Following the transaction, 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 filing with the SEC, which is accessible through this link. Also, Director John Md Thomas sold 8,595 shares of Pacific Mercantile Bancorp stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $8.50, for a total transaction of $73,057.50. Following the transaction, the director now directly owns 110,684 shares in the company, valued at $940,814. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 14,552 shares of company stock worth $125,450 and have sold 22,375 shares worth $194,292. Company insiders own 3.60% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Endeavour Capital Advisors Inc. increased its holdings in Pacific Mercantile Bancorp by 5.7% during the fourth quarter. Endeavour Capital Advisors Inc. now owns 1,991,432 shares of the bank’s stock valued at $17,425,000 after buying an additional 107,482 shares during the period. Deutsche Bank AG increased its holdings in Pacific Mercantile Bancorp by 62.6% during the fourth quarter. Deutsche Bank AG now owns 48,241 shares of the bank’s stock valued at $419,000 after buying an additional 18,576 shares during the period. Renaissance Technologies LLC increased its holdings in 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 buying an additional 27,300 shares during the period. Kennedy Capital Management Inc. purchased a new position in Pacific Mercantile Bancorp during the fourth quarter valued at approximately $168,000. Finally, BlackRock Inc. increased its holdings in 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 buying an additional 11,028 shares during the period. 44.42% of the stock is currently owned by institutional investors.
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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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