Shares of Pacific Mercantile Bancorp (NASDAQ:PMBC) have received an average broker rating score of 2.00 (Buy) from the one brokers that cover the stock, Zacks Investment Research reports.
Zacks has also given Pacific Mercantile Bancorp an industry rank of 90 out of 255 based on the ratings given to related companies.
PMBC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods restated a “buy” rating and set a $11.00 target price on shares of Pacific Mercantile Bancorp in a research note on Wednesday, April 25th. ValuEngine upgraded shares of Pacific Mercantile Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd.
NASDAQ:PMBC traded up $0.10 on Wednesday, reaching $9.95. 200 shares of the company’s stock were exchanged, compared to its average volume of 19,345. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $233.78 million, a PE ratio of 9.35 and a beta of 0.12. Pacific Mercantile Bancorp has a 52-week low of $7.60 and a 52-week high of $10.10.
Pacific Mercantile Bancorp (NASDAQ:PMBC) last issued its quarterly earnings results on Thursday, July 26th. The bank reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.03. The company had revenue of $13.58 million for the quarter. Pacific Mercantile Bancorp had a net margin of 40.11% and a return on equity of 21.40%.
In related news, Director John Md Thomas sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $9.72, for a total transaction of $77,760.00. Following the sale, the director now directly owns 102,684 shares in the company, valued at $998,088.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its stake in shares of Pacific Mercantile Bancorp by 49.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 31,800 shares of the bank’s stock worth $304,000 after buying an additional 10,500 shares during the period. Deutsche Bank AG increased its stake in shares of Pacific Mercantile Bancorp by 62.6% during the fourth quarter. Deutsche Bank AG now owns 48,241 shares of the bank’s stock worth $419,000 after buying an additional 18,576 shares during the period. Renaissance Technologies LLC increased its stake in shares of Pacific Mercantile Bancorp by 5.6% during the fourth 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 period. BlackRock Inc. increased its stake in Pacific Mercantile Bancorp by 1.2% in the fourth quarter. BlackRock Inc. now owns 899,728 shares of the bank’s stock valued at $7,872,000 after purchasing an additional 11,028 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Pacific Mercantile Bancorp by 5.1% in the first quarter. Dimensional Fund Advisors LP now owns 538,908 shares of the bank’s stock valued at $5,147,000 after purchasing an additional 26,341 shares during the last quarter. Hedge funds and other institutional investors own 44.15% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Pacific Mercantile Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Mercantile Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.