Pacific Mercantile Bancorp (NASDAQ:PMBC) has received an average broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation.

Analysts have set a 12-month consensus price objective of $9.00 for the company, according to Zacks. Zacks has also given Pacific Mercantile Bancorp an industry rank of 205 out of 255 based on the ratings given to its competitors.

Several equities analysts have recently weighed in on the stock. TheStreet lowered shares of Pacific Mercantile Bancorp from a “b-” rating to a “c+” rating in a research report on Friday, October 18th. ValuEngine upgraded shares of Pacific Mercantile Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th.

NASDAQ:PMBC opened at $7.06 on Tuesday. Pacific Mercantile Bancorp has a twelve month low of $6.76 and a twelve month high of $8.91. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average of $7.19 and a 200-day moving average of $7.70. The firm has a market cap of $157.79 million, a price-to-earnings ratio of 17.05 and a beta of 0.58.

In other news, CEO Bradford R. Dinsmore bought 28,000 shares of the firm’s stock in a transaction on 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 completion of the acquisition, the chief executive officer now directly owns 28,000 shares in the company, valued at approximately $223,440. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Thomas J. Inserra sold 50,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $7.05, for a total transaction of $352,500.00. Following the completion of the transaction, the executive vice president now owns 95,044 shares of the company’s stock, valued at $670,060.20. The disclosure for this sale can be found here. Company insiders own 12.30% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its holdings in shares of Pacific Mercantile Bancorp by 191.4% in the third quarter. Tower Research Capital LLC TRC now owns 4,624 shares of the bank’s stock worth $35,000 after buying an additional 3,037 shares during the period. Strs Ohio boosted its holdings in shares of Pacific Mercantile Bancorp by 5.4% in the second quarter. Strs Ohio now owns 25,300 shares of the bank’s stock worth $208,000 after buying an additional 1,300 shares during the period. Rhumbline Advisers boosted its holdings in shares of Pacific Mercantile Bancorp by 10.0% in the third quarter. Rhumbline Advisers now owns 27,773 shares of the bank’s stock worth $209,000 after buying an additional 2,532 shares during the period. Millennium Management LLC purchased a new stake in shares of Pacific Mercantile Bancorp in the third quarter worth approximately $209,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Pacific Mercantile Bancorp by 21.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 44,903 shares of the bank’s stock worth $371,000 after purchasing an additional 8,064 shares in the last quarter. Institutional investors own 71.00% of the company’s stock.

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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