Pacific Mercantile Bancorp (NASDAQ:PMBC) Director John Md Thomas sold 8,595 shares of the company’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $8.50, for a total transaction of $73,057.50. Following the sale, the director now directly owns 110,684 shares of the company’s stock, valued at approximately $940,814. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
John Md Thomas also recently made the following trade(s):
- On Friday, March 2nd, John Md Thomas sold 405 shares of Pacific Mercantile Bancorp stock. The stock was sold at an average price of $8.50, for a total transaction of $3,442.50.
Shares of Pacific Mercantile Bancorp (PMBC) traded up $0.20 on Friday, hitting $9.30. 16,671 shares of the company were exchanged, compared to its average volume of 16,676. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.10 and a quick ratio of 1.08. Pacific Mercantile Bancorp has a 12-month low of $6.85 and a 12-month high of $9.85. The stock has a market capitalization of $212.08, a price-to-earnings ratio of 20.67 and a beta of 0.23.
A number of equities research analysts have recently issued reports on the stock. Hovde Group set a $10.00 target price on shares of Pacific Mercantile Bancorp and gave the stock a “buy” rating in a report on Tuesday, January 30th. TheStreet lowered shares of Pacific Mercantile Bancorp from a “b” rating to a “c+” rating in a report on Tuesday, February 20th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $10.50 price objective on shares of Pacific Mercantile Bancorp in a report on Friday, December 22nd.
Hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC purchased a new position in Pacific Mercantile Bancorp during the fourth quarter worth about $102,000. Kennedy Capital Management Inc. purchased a new position in Pacific Mercantile Bancorp during the fourth quarter worth about $168,000. Nationwide Fund Advisors boosted its stake in Pacific Mercantile Bancorp by 109.7% during the second quarter. Nationwide Fund Advisors now owns 19,235 shares of the bank’s stock worth $169,000 after buying an additional 10,063 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Pacific Mercantile Bancorp by 482.6% during the second quarter. The Manufacturers Life Insurance Company now owns 20,035 shares of the bank’s stock worth $176,000 after buying an additional 16,596 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its stake in Pacific Mercantile Bancorp by 5.7% during the second quarter. Parametric Portfolio Associates LLC now owns 22,743 shares of the bank’s stock worth $200,000 after buying an additional 1,217 shares during the period. 44.55% of the stock is owned by institutional investors.
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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.
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