Keefe, Bruyette & Woods upgraded shares of Pacific Mercantile Bancorp (NASDAQ:PMBC) from a market perform rating to an outperform rating in a research report report published on Wednesday morning, Marketbeat Ratings reports. Keefe, Bruyette & Woods currently has $10.00 price objective on the bank’s stock.

PMBC has been the subject of a number of other research reports. ValuEngine raised shares of Pacific Mercantile Bancorp from a sell rating to a hold rating in a research note on Saturday, June 3rd. Hovde Group raised shares of Pacific Mercantile Bancorp from a market perform rating to an outperform rating and set a $9.00 price objective for the company in a research note on Monday, May 1st.

Shares of Pacific Mercantile Bancorp (PMBC) traded up 1.27% during mid-day trading on Wednesday, reaching $7.95. The company’s stock had a trading volume of 13,461 shares. Pacific Mercantile Bancorp has a one year low of $5.30 and a one year high of $9.00. The firm’s 50 day moving average is $8.49 and its 200 day moving average is $7.84. The firm’s market cap is $184.38 million.

Pacific Mercantile Bancorp (NASDAQ:PMBC) last issued its quarterly earnings data on Monday, July 24th. The bank reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by $0.02. The business had revenue of $11.83 million during the quarter. Pacific Mercantile Bancorp had a negative return on equity of 25.67% and a negative net margin of 53.29%. On average, equities analysts anticipate that Pacific Mercantile Bancorp will post $0.49 earnings per share for the current fiscal year.

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An institutional investor recently raised its position in Pacific Mercantile Bancorp stock. Bank of New York Mellon Corp raised its position in Pacific Mercantile Bancorp (NASDAQ:PMBC) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,059 shares of the bank’s stock after buying an additional 370 shares during the period. Bank of New York Mellon Corp owned approximately 0.28% of Pacific Mercantile Bancorp worth $564,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 49.98% of the company’s stock.

Pacific Mercantile Bancorp Company 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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