Insider Buying: Pacific Mercantile Bancorp (PMBC) EVP Buys 6,413 Shares of Stock

Pacific Mercantile Bancorp (NASDAQ:PMBC) EVP Thomas J. Inserra acquired 6,413 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were bought at an average cost of $8.65 per share, with a total value of $55,472.45. Following the transaction, the executive vice president now directly owns 37,000 shares in the company, valued at approximately $320,050. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Pacific Mercantile Bancorp (NASDAQ:PMBC) traded down $0.10 during trading hours on Tuesday, hitting $8.45. 29,241 shares of the company were exchanged, compared to its average volume of 14,770. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market cap of $202.12, a PE ratio of 19.33 and a beta of 0.18. Pacific Mercantile Bancorp has a 1 year low of $6.85 and a 1 year high of $9.85.

Pacific Mercantile Bancorp (NASDAQ:PMBC) last posted its quarterly earnings data on Thursday, February 1st. The bank reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.04). The company had revenue of $12.28 million for the quarter. Pacific Mercantile Bancorp had a return on equity of 9.82% and a net margin of 18.68%.

Several large investors have recently bought and sold shares of PMBC. Rhumbline Advisers boosted its position in shares of Pacific Mercantile Bancorp by 32.8% during the 2nd quarter. Rhumbline Advisers now owns 16,038 shares of the bank’s stock worth $141,000 after purchasing an additional 3,960 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Pacific Mercantile Bancorp by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 64,059 shares of the bank’s stock worth $564,000 after purchasing an additional 370 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Pacific Mercantile Bancorp by 451.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 58,271 shares of the bank’s stock worth $513,000 after purchasing an additional 47,707 shares during the period. Teachers Advisors LLC boosted its position in shares of Pacific Mercantile Bancorp by 62.5% during the 2nd quarter. Teachers Advisors LLC now owns 27,757 shares of the bank’s stock worth $244,000 after purchasing an additional 10,679 shares during the period. Finally, Nationwide Fund Advisors boosted its position in shares of Pacific Mercantile Bancorp by 109.7% during the 2nd quarter. Nationwide Fund Advisors now owns 19,235 shares of the bank’s stock worth $169,000 after purchasing an additional 10,063 shares during the period. 48.53% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on PMBC shares. Hovde Group set a $10.00 price objective on shares of Pacific Mercantile Bancorp and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $10.50 price objective on shares of Pacific Mercantile Bancorp in a research report on Friday, December 22nd.

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About Pacific Mercantile Bancorp

Pacific Mercantile Bancorp is the holding company for Pacific Mercantile Bank (the Bank). The Company’s business operations are conducted by the Bank. It operates through commercial banking segment. The Bank offers its customers different loan products, including commercial loans and credit lines, accounts receivable and inventory financing, Small Business Administration (SBA) guaranteed business loans, and owner-occupied commercial real estate loans.

Insider Buying and Selling by Quarter for Pacific Mercantile Bancorp (NASDAQ:PMBC)

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