Pacific Mercantile Bancorp (PMBC) Receives Consensus Rating of “Hold” from Analysts

Shares of Pacific Mercantile Bancorp (NASDAQ:PMBC) have earned a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.

Analysts have set a twelve-month consensus price target 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 downgraded Pacific Mercantile Bancorp from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $9.50 to $9.00 in a report on Sunday, February 24th.

In other news, Director John Md Thomas sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $7.83, for a total value of $78,300.00. Following the completion of the sale, the director now directly owns 65,248 shares in the company, valued at approximately $510,891.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 32,216 shares of company stock valued at $256,777 in the last quarter. 4.30% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of PMBC. Ramsey Quantitative Systems raised its position in Pacific Mercantile Bancorp by 80.6% during the fourth quarter. Ramsey Quantitative Systems now owns 4,611 shares of the bank’s stock valued at $33,000 after buying an additional 2,058 shares during the period. Schneider Downs Wealth Management Advisors LP bought a new stake in Pacific Mercantile Bancorp during the fourth quarter worth about $86,000. SG Americas Securities LLC bought a new stake in Pacific Mercantile Bancorp during the third quarter worth about $103,000. Rhumbline Advisers boosted its stake in Pacific Mercantile Bancorp by 44.8% during the fourth quarter. Rhumbline Advisers now owns 22,012 shares of the bank’s stock worth $157,000 after acquiring an additional 6,813 shares in the last quarter. Finally, Martingale Asset Management L P bought a new stake in Pacific Mercantile Bancorp during the fourth quarter worth about $231,000. Institutional investors and hedge funds own 67.17% of the company’s stock.

Shares of PMBC stock traded up $0.03 during trading hours on Monday, hitting $7.95. The stock had a trading volume of 44 shares, compared to its average volume of 14,578. The company has a market capitalization of $174.39 million, a P/E ratio of 6.77 and a beta of 0.57. Pacific Mercantile Bancorp has a twelve month low of $6.80 and a twelve month high of $10.45. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.43.

Pacific Mercantile Bancorp (NASDAQ:PMBC) last posted its quarterly earnings data on Monday, January 28th. The bank reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The business 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%.

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.

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