Pacific Mercantile Bancorp (PMBC) Rating Lowered to C+ at TheStreet

Pacific Mercantile Bancorp (NASDAQ:PMBC) was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating in a report released on Tuesday.

PMBC has been the topic of several other research reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $10.50 price objective on shares of Pacific Mercantile Bancorp in a research report on Friday, December 22nd. Hovde Group set a $10.00 price objective on Pacific Mercantile Bancorp and gave the company a “buy” rating in a research report on Tuesday, January 30th.

Pacific Mercantile Bancorp (PMBC) opened at $8.15 on Tuesday. The firm has a market capitalization of $189.35, a P/E ratio of 18.11 and a beta of 0.18. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. Pacific Mercantile Bancorp has a 12-month low of $6.85 and a 12-month high of $9.85.

Pacific Mercantile Bancorp (NASDAQ:PMBC) last released its earnings results on Thursday, February 1st. The bank reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.04). The company had revenue of $12.28 million for the quarter. Pacific Mercantile Bancorp had a net margin of 18.68% and a return on equity of 9.82%.

In other Pacific Mercantile Bancorp news, EVP Thomas J. Inserra acquired 6,413 shares of the business’s stock in a transaction on Monday, February 5th. The shares were bought at an average price of $8.65 per share, with a total value of $55,472.45. Following the transaction, the executive vice president now directly owns 37,000 shares of the company’s stock, valued at approximately $320,050. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kittridge Chamberlain sold 7,123 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $9.48, for a total value of $67,526.04. Following the completion of the transaction, the executive vice president now directly owns 18,362 shares in the company, valued at approximately $174,071.76. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 7,152 shares of company stock worth $61,884 and sold 28,993 shares worth $268,579. Corporate insiders own 3.60% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Endeavour Capital Advisors Inc. grew 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 valued at $17,425,000 after acquiring an additional 107,482 shares during the last quarter. Deutsche Bank AG grew its position in Pacific Mercantile Bancorp by 62.6% in the 4th quarter. Deutsche Bank AG now owns 48,241 shares of the bank’s stock valued at $419,000 after acquiring an additional 18,576 shares during the last quarter. Renaissance Technologies LLC grew 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 valued at $4,515,000 after acquiring an additional 27,300 shares during the last quarter. Kennedy Capital Management Inc. purchased a new stake in shares of Pacific Mercantile Bancorp in the 4th quarter worth $168,000. Finally, BlackRock Inc. lifted its holdings in shares of 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 period. 48.82% of the stock is currently owned by institutional investors.

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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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