Martingale Asset Management L P purchased a new stake in Pacific Mercantile Bancorp (NASDAQ:PMBC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 32,228 shares of the bank’s stock, valued at approximately $231,000. Martingale Asset Management L P owned about 0.15% of Pacific Mercantile Bancorp at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in PMBC. Ramsey Quantitative Systems raised its holdings in shares of Pacific Mercantile Bancorp by 80.6% in 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 last quarter. Schneider Downs Wealth Management Advisors LP purchased a new stake in shares of Pacific Mercantile Bancorp in the fourth quarter valued at about $86,000. SG Americas Securities LLC purchased a new stake in shares of Pacific Mercantile Bancorp in the third quarter valued at about $103,000. Rhumbline Advisers raised its holdings in shares of Pacific Mercantile Bancorp by 44.8% in the fourth quarter. Rhumbline Advisers now owns 22,012 shares of the bank’s stock valued at $157,000 after buying an additional 6,813 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Pacific Mercantile Bancorp by 244.7% in the second quarter. Bank of America Corp DE now owns 22,650 shares of the bank’s stock valued at $221,000 after buying an additional 16,080 shares during the last quarter. 67.48% of the stock is owned by hedge funds and other institutional investors.
Separately, Keefe, Bruyette & Woods cut shares of Pacific Mercantile Bancorp from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $9.50 to $9.00 in a report on Sunday, February 24th.
Shares of NASDAQ:PMBC opened at $7.94 on Friday. Pacific Mercantile Bancorp has a one year low of $6.80 and a one year high of $10.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $171.53 million, a PE ratio of 6.66 and a beta of 0.58.
Pacific Mercantile Bancorp (NASDAQ:PMBC) last announced its earnings results on Monday, January 28th. The bank reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. Pacific Mercantile Bancorp had a net margin of 40.70% and a return on equity of 21.47%. The business had revenue of $13.93 million during the quarter.
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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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