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

Pacific Mercantile Bancorp (NASDAQ:PMBC) has received 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 rating.

Zacks has also given Pacific Mercantile Bancorp an industry rank of 69 out of 255 based on the ratings given to related companies.

Separately, ValuEngine upgraded Pacific Mercantile Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, January 21st.

In other Pacific Mercantile Bancorp news, CFO Curt Alan Christianssen bought 7,264 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $7.05 per share, for a total transaction of $51,211.20. Following the completion of the transaction, the chief financial officer now directly owns 97,926 shares of the company’s stock, valued at $690,378.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have acquired 10,966 shares of company stock valued at $76,912 in the last 90 days. Company insiders own 12.30% of the company’s stock.

Several large investors have recently made changes to their positions in PMBC. Endeavour Capital Advisors Inc. raised its stake in shares of Pacific Mercantile Bancorp by 12.6% during the fourth quarter. Endeavour Capital Advisors Inc. now owns 2,175,223 shares of the bank’s stock valued at $17,663,000 after acquiring an additional 243,864 shares in the last quarter. Banc Funds Co. LLC raised its stake in shares of Pacific Mercantile Bancorp by 1.0% during the fourth quarter. Banc Funds Co. LLC now owns 998,884 shares of the bank’s stock valued at $8,111,000 after acquiring an additional 10,000 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Pacific Mercantile Bancorp by 17.8% during the fourth quarter. Renaissance Technologies LLC now owns 903,556 shares of the bank’s stock valued at $7,337,000 after acquiring an additional 136,563 shares in the last quarter. Dalton Greiner Hartman Maher & Co. raised its stake in shares of Pacific Mercantile Bancorp by 4.6% during the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 409,958 shares of the bank’s stock valued at $3,329,000 after acquiring an additional 18,001 shares in the last quarter. Finally, Alliancebernstein L.P. bought a new stake in shares of Pacific Mercantile Bancorp during the fourth quarter valued at approximately $2,845,000. Institutional investors and hedge funds own 72.64% of the company’s stock.

Shares of NASDAQ:PMBC opened at $6.79 on Tuesday. Pacific Mercantile Bancorp has a 1 year low of $6.51 and a 1 year high of $8.49. The business has a 50 day simple moving average of $7.15 and a two-hundred day simple moving average of $7.41. The firm has a market capitalization of $152.50 million, a PE ratio of 27.16 and a beta of 0.65. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.13 and a quick ratio of 1.13.

Pacific Mercantile Bancorp (NASDAQ:PMBC) last announced its earnings results on Monday, January 27th. The bank reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.07). Pacific Mercantile Bancorp had a net margin of 7.97% and a return on equity of 3.98%. The business had revenue of $13.91 million for the quarter.

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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