Clover Partners L.P. trimmed its stake in Pacific Mercantile Bancorp (NASDAQ:PMBC) by 61.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 573,538 shares of the bank’s stock after selling 927,384 shares during the period. Pacific Mercantile Bancorp makes up about 4.8% of Clover Partners L.P.’s portfolio, making the stock its 5th biggest position. Clover Partners L.P. owned about 2.47% of Pacific Mercantile Bancorp worth $5,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently bought and sold shares of PMBC. Endeavour Capital Advisors Inc. lifted its stake in shares of Pacific Mercantile Bancorp by 5.7% in the 4th quarter. Endeavour Capital Advisors Inc. now owns 1,991,432 shares of the bank’s stock valued at $17,425,000 after purchasing an additional 107,482 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Pacific Mercantile Bancorp by 67.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 97,500 shares of the bank’s stock valued at $902,000 after purchasing an additional 39,229 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Pacific Mercantile Bancorp by 5.6% in the fourth quarter. Renaissance Technologies LLC now owns 516,000 shares of the bank’s stock worth $4,515,000 after buying an additional 27,300 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Pacific Mercantile Bancorp by 5.3% in the third quarter. Dimensional Fund Advisors LP now owns 472,100 shares of the bank’s stock worth $4,320,000 after buying an additional 23,578 shares during the period. Finally, Kennedy Capital Management Inc. purchased a new stake in shares of Pacific Mercantile Bancorp in the fourth quarter worth approximately $168,000. 44.42% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on PMBC shares. TheStreet upgraded Pacific Mercantile Bancorp from a “c+” rating to a “b” rating in a report on Friday, March 9th. Hovde Group set a $10.00 price target on Pacific Mercantile Bancorp and gave the stock a “buy” rating in a report on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $10.50 price target on shares of Pacific Mercantile Bancorp in a report on Friday, December 22nd.
Shares of Pacific Mercantile Bancorp (NASDAQ PMBC) opened at $9.20 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.52. Pacific Mercantile Bancorp has a fifty-two week low of $6.85 and a fifty-two week high of $9.85. The firm has a market capitalization of $216.74, a P/E ratio of 20.67 and a beta of 0.23.
Pacific Mercantile Bancorp (NASDAQ:PMBC) last issued its quarterly earnings results on Thursday, February 1st. The bank reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). Pacific Mercantile Bancorp had a return on equity of 9.68% and a net margin of 18.68%. The business had revenue of $12.28 million during the quarter.
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Pacific Mercantile Bancorp Profile
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.
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