Pacific Mercantile Bancorp (NASDAQ:PMBC) Given Average Recommendation of “Hold” by Analysts

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Pacific Mercantile Bancorp (NASDAQ:PMBC) has earned a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating.

Brokers have set a one year consensus price objective of $9.00 for the company, according to Zacks. Zacks has also given Pacific Mercantile Bancorp an industry rank of 187 out of 255 based on the ratings given to related companies.

Several brokerages have commented on PMBC. TheStreet downgraded Pacific Mercantile Bancorp from a “b-” rating to a “c+” rating in a research report on Friday, October 18th. ValuEngine raised Pacific Mercantile Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th.

In other news, EVP Thomas J. Inserra sold 50,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $7.05, for a total transaction of $352,500.00. Following the transaction, the executive vice president now owns 95,044 shares of the company’s stock, valued at approximately $670,060.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Bradford R. Dinsmore purchased 28,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were purchased at an average cost of $7.98 per share, for a total transaction of $223,440.00. Following the transaction, the chief executive officer now directly owns 28,000 shares in the company, valued at approximately $223,440. The disclosure for this purchase can be found here. Corporate insiders own 12.30% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of PMBC. Tower Research Capital LLC TRC grew its position in shares of Pacific Mercantile Bancorp by 191.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,624 shares of the bank’s stock worth $35,000 after buying an additional 3,037 shares in the last quarter. Strs Ohio grew its position in shares of Pacific Mercantile Bancorp by 5.4% during the 2nd quarter. Strs Ohio now owns 25,300 shares of the bank’s stock worth $208,000 after buying an additional 1,300 shares in the last quarter. Rhumbline Advisers grew its position in shares of Pacific Mercantile Bancorp by 10.0% during the 3rd quarter. Rhumbline Advisers now owns 27,773 shares of the bank’s stock worth $209,000 after buying an additional 2,532 shares in the last quarter. Millennium Management LLC bought a new position in shares of Pacific Mercantile Bancorp during the 3rd quarter worth $209,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Pacific Mercantile Bancorp by 21.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 44,903 shares of the bank’s stock worth $371,000 after buying an additional 8,064 shares in the last quarter. 71.00% of the stock is currently owned by institutional investors and hedge funds.

Pacific Mercantile Bancorp stock traded up $0.15 during mid-day trading on Tuesday, hitting $7.11. The company’s stock had a trading volume of 86,286 shares, compared to its average volume of 47,567. The company has a 50 day moving average of $7.17 and a 200-day moving average of $7.68. The stock has a market cap of $153.38 million, a PE ratio of 16.57 and a beta of 0.58. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.13 and a current ratio of 1.13. Pacific Mercantile Bancorp has a one year low of $6.76 and a one year high of $8.91.

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.

Further Reading: Risk Tolerance

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