Clover Partners L.P. trimmed its holdings in shares of Pacific Mercantile Bancorp (NASDAQ:PMBC) by 3.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 528,232 shares of the bank’s stock after selling 20,649 shares during the quarter. Pacific Mercantile Bancorp makes up approximately 6.8% of Clover Partners L.P.’s investment portfolio, making the stock its 2nd biggest holding. Clover Partners L.P. owned about 2.41% of Pacific Mercantile Bancorp worth $4,939,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. increased its holdings in Pacific Mercantile Bancorp by 2.4% during the second quarter. BlackRock Inc. now owns 914,114 shares of the bank’s stock valued at $8,913,000 after buying an additional 21,694 shares during the period. Dimensional Fund Advisors LP grew its holdings in Pacific Mercantile Bancorp by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 552,445 shares of the bank’s stock worth $5,386,000 after purchasing an additional 13,537 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Pacific Mercantile Bancorp by 7.2% in the second quarter. Renaissance Technologies LLC now owns 575,200 shares of the bank’s stock worth $5,608,000 after purchasing an additional 38,600 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Pacific Mercantile Bancorp by 100.6% in the third quarter. Acadian Asset Management LLC now owns 69,455 shares of the bank’s stock worth $649,000 after purchasing an additional 34,824 shares during the last quarter. Finally, Strs Ohio purchased a new position in Pacific Mercantile Bancorp in the third quarter worth $143,000. 53.98% of the stock is currently owned by institutional investors.

NASDAQ PMBC opened at $8.13 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Pacific Mercantile Bancorp has a 12-month low of $7.38 and a 12-month high of $10.45. The firm has a market capitalization of $179.05 million, a price-to-earnings ratio of 7.56 and a beta of 0.33.

Pacific Mercantile Bancorp (NASDAQ:PMBC) last released its quarterly earnings results on Monday, October 22nd. The bank reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.01. Pacific Mercantile Bancorp had a net margin of 39.50% and a return on equity of 20.75%. The business had revenue of $12.80 million for the quarter.

In other news, EVP Thomas J. Inserra purchased 3,450 shares of the business’s stock in a transaction on Monday, October 29th. The shares were acquired at an average cost of $8.17 per share, with a total value of $28,186.50. Following the completion of the acquisition, the executive vice president now owns 48,891 shares of the company’s stock, valued at $399,439.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 disclosure for this sale can be found here. Over the last ninety days, insiders acquired 36,620 shares of company stock worth $300,257 and sold 13,373,031 shares worth $110,327,656. 4.30% of the stock is currently owned by insiders.

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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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Institutional Ownership by Quarter for Pacific Mercantile Bancorp (NASDAQ:PMBC)

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