Pacific Mercantile Bancorp (NASDAQ:PMBC) major shareholder Carpenter Fund Manager Gp, Llc sold 7,417,593 shares of Pacific Mercantile Bancorp stock in a transaction on Friday, September 14th. The stock was sold at an average price of $8.25, for a total transaction of $61,195,142.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
NASDAQ:PMBC opened at $10.05 on Friday. Pacific Mercantile Bancorp has a 12 month low of $8.05 and a 12 month high of $10.45. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $239.63 million, a PE ratio of 9.58 and a beta of 0.13.
Pacific Mercantile Bancorp (NASDAQ:PMBC) last posted its quarterly earnings data on Thursday, July 26th. The bank reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.03. Pacific Mercantile Bancorp had a net margin of 40.11% and a return on equity of 21.40%. The business had revenue of $13.58 million during the quarter.
Separately, ValuEngine downgraded shares of Pacific Mercantile Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Pacific Mercantile Bancorp by 2.4% during the second quarter. BlackRock Inc. now owns 914,114 shares of the bank’s stock worth $8,913,000 after buying an additional 21,694 shares during the period. Renaissance Technologies LLC lifted its position in Pacific Mercantile Bancorp by 7.2% during the second quarter. Renaissance Technologies LLC now owns 575,200 shares of the bank’s stock valued at $5,608,000 after purchasing an additional 38,600 shares during the period. Dimensional Fund Advisors LP lifted its position in Pacific Mercantile Bancorp by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 552,445 shares of the bank’s stock valued at $5,386,000 after purchasing an additional 13,537 shares during the period. Deutsche Bank AG lifted its position in Pacific Mercantile Bancorp by 62.6% during the fourth quarter. Deutsche Bank AG now owns 48,241 shares of the bank’s stock valued at $419,000 after purchasing an additional 18,576 shares during the period. Finally, Acadian Asset Management LLC lifted its position in Pacific Mercantile Bancorp by 57.7% during the second quarter. Acadian Asset Management LLC now owns 34,631 shares of the bank’s stock valued at $337,000 after purchasing an additional 12,671 shares during the period. Institutional investors and hedge funds own 45.44% 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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