Dalton Greiner Hartman Maher & Co. Has $3.33 Million Stock Position in Pacific Mercantile Bancorp (NASDAQ:PMBC)

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Dalton Greiner Hartman Maher & Co. grew its stake in Pacific Mercantile Bancorp (NASDAQ:PMBC) by 4.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 409,958 shares of the bank’s stock after buying an additional 18,001 shares during the period. Dalton Greiner Hartman Maher & Co.’s holdings in Pacific Mercantile Bancorp were worth $3,329,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in Pacific Mercantile Bancorp by 191.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,624 shares of the bank’s stock worth $35,000 after buying an additional 3,037 shares during the period. Millennium Management LLC acquired a new stake in Pacific Mercantile Bancorp during the 3rd quarter worth $209,000. Rhumbline Advisers raised its stake in Pacific Mercantile Bancorp by 10.0% during the 3rd quarter. Rhumbline Advisers now owns 27,773 shares of the bank’s stock worth $209,000 after buying an additional 2,532 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Pacific Mercantile Bancorp by 21.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 44,903 shares of the bank’s stock worth $371,000 after buying an additional 8,064 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Pacific Mercantile Bancorp by 15.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 90,022 shares of the bank’s stock worth $743,000 after buying an additional 11,787 shares during the period. 70.99% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages recently commented on PMBC. ValuEngine downgraded Pacific Mercantile Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, December 21st. TheStreet downgraded Pacific Mercantile Bancorp from a “b-” rating to a “c+” rating in a research note on Friday, October 18th.

In related news, EVP Thomas J. Inserra sold 50,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $7.05, for a total transaction of $352,500.00. Following the sale, the executive vice president now owns 95,044 shares of the company’s stock, valued at approximately $670,060.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.30% of the company’s stock.

Shares of Pacific Mercantile Bancorp stock opened at $7.37 on Thursday. The company has a market capitalization of $165.29 million, a PE ratio of 17.86 and a beta of 0.62. Pacific Mercantile Bancorp has a 12 month low of $6.76 and a 12 month high of $8.91. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.39. The stock’s fifty day simple moving average is $7.62 and its 200 day simple moving average is $7.62.

Pacific Mercantile Bancorp (NASDAQ:PMBC) last issued its quarterly earnings data on Monday, October 28th. The bank reported $0.07 EPS for the quarter. The business had revenue of $14.09 million for the quarter. Pacific Mercantile Bancorp had a return on equity of 6.85% and a net margin of 13.46%.

Pacific Mercantile Bancorp 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.

Further Reading: What is an Initial Coin Offering (ICO)?

Want to see what other hedge funds are holding PMBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pacific Mercantile Bancorp (NASDAQ:PMBC).

Institutional Ownership by Quarter for Pacific Mercantile Bancorp (NASDAQ:PMBC)

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