Pacific Mercantile Bancorp (NASDAQ:PMBC) CEO Bradford R. Dinsmore acquired 28,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average price of $7.98 per share, with a total value of $223,440.00. Following the acquisition, the chief executive officer now directly owns 28,000 shares of the company’s stock, valued at approximately $223,440. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
NASDAQ PMBC traded down $0.03 during trading hours on Monday, reaching $7.99. 46,199 shares of the company were exchanged, compared to its average volume of 29,409. Pacific Mercantile Bancorp has a 1 year low of $6.80 and a 1 year high of $9.75. The business’s 50 day simple moving average is $7.62 and its 200-day simple moving average is $7.90. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $174.43 million, a P/E ratio of 15.21 and a beta of 0.59.
Pacific Mercantile Bancorp (NASDAQ:PMBC) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). Pacific Mercantile Bancorp had a return on equity of 8.78% and a net margin of 17.07%. The company had revenue of $13.61 million for the quarter.
Separately, TheStreet downgraded shares of Pacific Mercantile Bancorp from a “b” rating to a “c+” rating in a report on Friday, August 23rd.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dalton Greiner Hartman Maher & Co. increased its holdings in Pacific Mercantile Bancorp by 8.2% during the second quarter. Dalton Greiner Hartman Maher & Co. now owns 359,009 shares of the bank’s stock worth $2,962,000 after buying an additional 27,265 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Pacific Mercantile Bancorp by 4.6% in the second quarter. Vanguard Group Inc. now owns 786,215 shares of the bank’s stock worth $6,486,000 after purchasing an additional 34,916 shares in the last quarter. BlackRock Inc. increased its stake in shares of Pacific Mercantile Bancorp by 19.7% in the second quarter. BlackRock Inc. now owns 1,106,903 shares of the bank’s stock worth $9,132,000 after purchasing an additional 182,045 shares in the last quarter. Northern Trust Corp increased its stake in shares of Pacific Mercantile Bancorp by 5.0% in the second quarter. Northern Trust Corp now owns 172,340 shares of the bank’s stock worth $1,422,000 after purchasing an additional 8,269 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Pacific Mercantile Bancorp by 4.5% in the second quarter. Renaissance Technologies LLC now owns 702,400 shares of the bank’s stock worth $5,795,000 after purchasing an additional 30,500 shares in the last quarter. Institutional investors and hedge funds own 69.33% 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.
Featured Story: Fundamental Analysis
Receive News & Ratings for Pacific Mercantile Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Mercantile Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.