Pacific Mercantile Bancorp (NASDAQ:PMBC) Stock Crosses Below 200-Day Moving Average of $0.00

Pacific Mercantile Bancorp (NASDAQ:PMBC) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.00 and traded as low as $7.60. Pacific Mercantile Bancorp shares last traded at $7.60, with a volume of 776 shares.

The firm has a fifty day moving average of $8.06. The stock has a market capitalization of $169.57 million, a price-to-earnings ratio of 14.73 and a beta of 0.58. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.39.

Pacific Mercantile Bancorp (NASDAQ:PMBC) last released its quarterly earnings results on Monday, July 22nd. The bank reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.02). Pacific Mercantile Bancorp had a net margin of 17.07% and a return on equity of 8.78%. The company had revenue of $13.61 million for the quarter.

In related news, Director John Md Thomas sold 21,641 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $7.89, for a total transaction of $170,747.49. Following the sale, the director now owns 80,248 shares in the company, valued at approximately $633,156.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.30% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Pacific Mercantile Bancorp by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 786,215 shares of the bank’s stock valued at $6,486,000 after buying an additional 34,916 shares during the period. BlackRock Inc. raised its holdings in shares of Pacific Mercantile Bancorp by 19.7% in the 2nd quarter. BlackRock Inc. now owns 1,106,903 shares of the bank’s stock valued at $9,132,000 after buying an additional 182,045 shares during the period. Northern Trust Corp raised its holdings in shares of Pacific Mercantile Bancorp by 5.0% in the 2nd quarter. Northern Trust Corp now owns 172,340 shares of the bank’s stock valued at $1,422,000 after buying an additional 8,269 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Pacific Mercantile Bancorp by 4.5% in the 2nd quarter. Renaissance Technologies LLC now owns 702,400 shares of the bank’s stock valued at $5,795,000 after buying an additional 30,500 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Pacific Mercantile Bancorp by 15.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 90,022 shares of the bank’s stock valued at $743,000 after buying an additional 11,787 shares during the period. Institutional investors own 67.55% of the company’s stock.

Pacific Mercantile Bancorp Company Profile (NASDAQ:PMBC)

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.

Further Reading: Certificate of Deposit (CD)

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