Pacific Mercantile Bancorp (NASDAQ:PMBC)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $10.45 and last traded at $10.25, with a volume of 45731 shares trading hands. The stock had previously closed at $10.15.

Separately, ValuEngine raised Pacific Mercantile Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd.

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 $237.29 million, a PE ratio of 9.49 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 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.03. The firm had revenue of $13.58 million for the quarter. Pacific Mercantile Bancorp had a return on equity of 21.40% and a net margin of 40.11%.

Several hedge funds have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its holdings in shares of Pacific Mercantile Bancorp by 49.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 31,800 shares of the bank’s stock valued at $304,000 after buying an additional 10,500 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Pacific Mercantile Bancorp by 57.7% in the 2nd quarter. Acadian Asset Management LLC now owns 34,631 shares of the bank’s stock valued at $337,000 after buying an additional 12,671 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Pacific Mercantile Bancorp by 2.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 552,445 shares of the bank’s stock valued at $5,386,000 after buying an additional 13,537 shares during the period. Bank of America Corp DE raised its holdings in shares of Pacific Mercantile Bancorp by 244.7% in the 2nd quarter. Bank of America Corp DE now owns 22,650 shares of the bank’s stock valued at $221,000 after buying an additional 16,080 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of Pacific Mercantile Bancorp by 62.6% in the 4th quarter. Deutsche Bank AG now owns 48,241 shares of the bank’s stock valued at $419,000 after buying an additional 18,576 shares during the period. Hedge funds and other institutional investors own 45.44% of the company’s stock.

About Pacific Mercantile Bancorp (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: Asset Allocation

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