Pacific Mercantile Bancorp (NASDAQ:PMBC) released its earnings results on Monday. The bank reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.03, Fidelity Earnings reports. Pacific Mercantile Bancorp had a return on equity of 9.68% and a net margin of 18.68%.
Shares of NASDAQ:PMBC opened at $9.60 on Tuesday. The firm has a market cap of $226.15, a price-to-earnings ratio of 21.56 and a beta of 0.12. Pacific Mercantile Bancorp has a 12-month low of $6.85 and a 12-month high of $10.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.10 and a quick ratio of 1.10.
A number of research analysts have recently commented on the company. Hovde Group set a $11.00 target price on Pacific Mercantile Bancorp and gave the company a “buy” rating in a research note on Wednesday, March 21st. TheStreet upgraded Pacific Mercantile Bancorp from a “c+” rating to a “b” rating in a research note on Friday, March 9th.
In related news, insider Thomas Vertin acquired 7,400 shares of the stock in a transaction on Monday, March 5th. The stock was acquired at an average price of $8.59 per share, for a total transaction of $63,566.00. Following the completion of the purchase, the insider now owns 57,425 shares of the company’s stock, valued at $493,280.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Nancy A. Gray sold 7,000 shares of Pacific Mercantile Bancorp stock in a transaction on 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 of the company’s stock, valued at approximately $119,100.80. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 14,552 shares of company stock valued at $125,450 and have sold 18,972 shares valued at $164,243. 4.30% of the stock is currently owned by insiders.
An institutional investor recently raised its position in Pacific Mercantile Bancorp stock. State Street Corp raised its stake in shares of Pacific Mercantile Bancorp (NASDAQ:PMBC) by 5.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 217,795 shares of the bank’s stock after buying an additional 11,415 shares during the quarter. State Street Corp owned about 0.94% of Pacific Mercantile Bancorp worth $1,915,000 at the end of the most recent quarter. 44.44% of the stock is currently owned by institutional investors and hedge funds.
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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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