Pacific Mercantile Bancorp (NASDAQ:PMBC) Stock Crosses Below Two Hundred Day Moving Average of $7.90

Pacific Mercantile Bancorp (NASDAQ:PMBC)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.90 and traded as low as $7.83. Pacific Mercantile Bancorp shares last traded at $7.96, with a volume of 35,001 shares traded.

Separately, TheStreet upgraded Pacific Mercantile Bancorp from a “c+” rating to a “b-” rating in a research report on Friday, September 13th.

The company has a market capitalization of $176.85 million, a price-to-earnings ratio of 15.42 and a beta of 0.59. The company has a 50-day moving average price of $7.66 and a 200-day moving average price of $7.90. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.12 and a current ratio of 1.12.



Pacific Mercantile Bancorp (NASDAQ:PMBC) last posted its earnings results on Monday, July 22nd. The bank reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.02). The company had revenue of $13.61 million for the quarter. Pacific Mercantile Bancorp had a return on equity of 8.78% and a net margin of 17.07%.

In related news, CEO Bradford R. Dinsmore bought 28,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was bought 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 owns 28,000 shares of the company’s stock, valued at $223,440. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 12.30% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Banc Funds Co. LLC grew its position in shares of Pacific Mercantile Bancorp by 36.5% in the 1st quarter. Banc Funds Co. LLC now owns 988,884 shares of the bank’s stock valued at $7,535,000 after purchasing an additional 264,284 shares during the period. Context BH Capital Management LP grew its position in shares of Pacific Mercantile Bancorp by 2.7% in the 2nd quarter. Context BH Capital Management LP now owns 292,136 shares of the bank’s stock valued at $2,410,000 after purchasing an additional 7,657 shares during the period. Strs Ohio grew its position in shares of Pacific Mercantile Bancorp by 5.4% in the 2nd quarter. Strs Ohio now owns 25,300 shares of the bank’s stock valued at $208,000 after purchasing an additional 1,300 shares during the period. Bank of America Corp DE grew its position in shares of Pacific Mercantile Bancorp by 14.9% in the 4th quarter. Bank of America Corp DE now owns 35,355 shares of the bank’s stock valued at $253,000 after purchasing an additional 4,576 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of Pacific Mercantile Bancorp by 23.3% in the 2nd quarter. Acadian Asset Management LLC now owns 108,121 shares of the bank’s stock valued at $892,000 after purchasing an additional 20,451 shares during the period. Institutional investors and hedge funds own 69.37% of the company’s stock.

About Pacific Mercantile Bancorp (NASDAQ:PMBC)

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: SEC Filing

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