Pacific Mercantile Bancorp (NASDAQ:PMBC) Downgraded by TheStreet

TheStreet cut shares of Pacific Mercantile Bancorp (NASDAQ:PMBC) from a b- rating to a c+ rating in a research report report published on Friday, TheStreetRatingsTable reports.

PMBC stock opened at $7.30 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $160.98 million, a price-to-earnings ratio of 14.04 and a beta of 0.59. Pacific Mercantile Bancorp has a 1 year low of $6.76 and a 1 year high of $8.91. The stock’s fifty day moving average is $7.55 and its two-hundred day moving average is $7.84.

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 analysts’ consensus estimates of $0.14 by ($0.02). The company had revenue of $13.61 million during the quarter. Pacific Mercantile Bancorp had a net margin of 17.07% and a return on equity of 8.78%.

In other Pacific Mercantile Bancorp news, CEO Bradford R. Dinsmore purchased 28,000 shares of the stock in a transaction dated Friday, September 13th. The shares were bought at an average cost of $7.98 per share, with a total value of $223,440.00. Following the completion of the acquisition, the chief executive officer now owns 28,000 shares of the company’s stock, valued at $223,440. The purchase was disclosed in a filing with the SEC, which is available through this link. 12.30% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Strs Ohio increased its holdings in shares of Pacific Mercantile Bancorp by 5.4% during the second 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. Context BH Capital Management LP increased its holdings in shares of Pacific Mercantile Bancorp by 2.7% during the second 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. Charles Schwab Investment Management Inc. increased its holdings in shares of Pacific Mercantile Bancorp by 21.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 44,903 shares of the bank’s stock valued at $371,000 after purchasing an additional 8,064 shares during the period. Northern Trust Corp increased its holdings in shares of Pacific Mercantile Bancorp by 5.0% during the second quarter. Northern Trust Corp now owns 172,340 shares of the bank’s stock valued at $1,422,000 after purchasing an additional 8,269 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Pacific Mercantile Bancorp by 15.1% during the second quarter. Bank of New York Mellon Corp now owns 90,022 shares of the bank’s stock valued at $743,000 after purchasing an additional 11,787 shares during the period. 69.52% of the stock is currently owned by institutional investors.

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.

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