Shares of Pacific Mercantile Bancorp (NASDAQ:PMBC) have been assigned a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.
Brokerages have set a twelve-month consensus target price of $9.00 for the company, according to Zacks. Zacks has also assigned Pacific Mercantile Bancorp an industry rank of 214 out of 255 based on the ratings given to its competitors.
Separately, Keefe, Bruyette & Woods cut Pacific Mercantile Bancorp from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $9.50 to $9.00 in a research report on Sunday, February 24th.
Shares of NASDAQ PMBC traded up $0.03 during mid-day trading on Monday, hitting $7.95. 44 shares of the company were exchanged, compared to its average volume of 14,578. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 1.12. Pacific Mercantile Bancorp has a 1-year low of $6.80 and a 1-year high of $10.45. The company has a market cap of $174.39 million, a PE ratio of 6.77 and a beta of 0.57.
Pacific Mercantile Bancorp (NASDAQ:PMBC) last issued its quarterly earnings results on Monday, January 28th. The bank reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The firm had revenue of $13.93 million during the quarter. Pacific Mercantile Bancorp had a return on equity of 21.47% and a net margin of 40.70%.
In other news, Director John Md Thomas sold 17,500 shares of the firm’s stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $7.85, for a total value of $137,375.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 32,216 shares of company stock valued at $256,777. Company insiders own 4.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in PMBC. Dalton Greiner Hartman Maher & Co. purchased a new position in shares of Pacific Mercantile Bancorp in the first quarter valued at $2,711,000. Banc Funds Co. LLC increased its position in Pacific Mercantile Bancorp by 47.9% during the 4th quarter. Banc Funds Co. LLC now owns 724,600 shares of the bank’s stock worth $5,195,000 after purchasing an additional 234,600 shares in the last quarter. Southside Capital LLC purchased a new stake in Pacific Mercantile Bancorp during the 4th quarter worth about $894,000. Renaissance Technologies LLC increased its position in Pacific Mercantile Bancorp by 7.4% during the 3rd quarter. Renaissance Technologies LLC now owns 617,800 shares of the bank’s stock worth $5,776,000 after purchasing an additional 42,600 shares in the last quarter. Finally, Martingale Asset Management L P purchased a new stake in Pacific Mercantile Bancorp during the 4th quarter worth about $231,000. Institutional investors and hedge funds own 67.17% of the company’s stock.
Pacific Mercantile Bancorp Company 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.
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