A number of other equities analysts have also recently issued reports on PMBC. Hovde Group set a $10.00 price target on shares of Pacific Mercantile Bancorp and gave the stock a buy rating in a research note on Tuesday, January 30th. Keefe, Bruyette & Woods reiterated a buy rating and issued a $10.50 price target on shares of Pacific Mercantile Bancorp in a research note on Friday, December 22nd.
Shares of Pacific Mercantile Bancorp (PMBC) opened at $9.30 on Friday. Pacific Mercantile Bancorp has a fifty-two week low of $6.85 and a fifty-two week high of $9.85. The company has a market cap of $216.74, a price-to-earnings ratio of 20.67 and a beta of 0.23. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.52.
In related news, CAO Nancy A. Gray sold 7,000 shares of the company’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $9.10, for a total value of $63,700.00. Following the transaction, the chief accounting officer now owns 13,088 shares in the company, valued at approximately $119,100.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kittridge Chamberlain sold 3,403 shares of the company’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $8.83, for a total transaction of $30,048.49. Following the completion of the transaction, the executive vice president now owns 22,294 shares in the company, valued at approximately $196,856.02. The disclosure for this sale can be found here. In the last quarter, insiders purchased 14,552 shares of company stock worth $125,450 and sold 22,375 shares worth $194,292. Insiders own 3.60% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Endeavour Capital Advisors Inc. raised its position in Pacific Mercantile Bancorp by 5.7% in the 4th quarter. Endeavour Capital Advisors Inc. now owns 1,991,432 shares of the bank’s stock worth $17,425,000 after buying an additional 107,482 shares during the last quarter. BlackRock Inc. raised its position in Pacific Mercantile Bancorp by 1.2% in the 4th quarter. BlackRock Inc. now owns 899,728 shares of the bank’s stock worth $7,872,000 after buying an additional 11,028 shares during the last quarter. Renaissance Technologies LLC raised its position in Pacific Mercantile Bancorp by 5.6% in the 4th quarter. Renaissance Technologies LLC now owns 516,000 shares of the bank’s stock worth $4,515,000 after buying an additional 27,300 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Pacific Mercantile Bancorp by 5.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 472,100 shares of the bank’s stock worth $4,320,000 after buying an additional 23,578 shares during the last quarter. Finally, State Street Corp raised its position in Pacific Mercantile Bancorp by 5.5% in the 2nd quarter. State Street Corp now owns 217,795 shares of the bank’s stock worth $1,915,000 after buying an additional 11,415 shares during the last quarter. 44.42% of the stock is owned by institutional investors and hedge funds.
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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