BNP Paribas Arbitrage SA raised its stake in shares of Pacific Mercantile Bancorp (NASDAQ:PMBC) by 549.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,294 shares of the bank’s stock after purchasing an additional 2,787 shares during the period. BNP Paribas Arbitrage SA’s holdings in Pacific Mercantile Bancorp were worth $25,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in PMBC. Dalton Greiner Hartman Maher & Co. acquired a new position in Pacific Mercantile Bancorp during the first quarter valued at approximately $2,711,000. Banc Funds Co. LLC boosted its position in shares of Pacific Mercantile Bancorp by 47.9% in the fourth quarter. Banc Funds Co. LLC now owns 724,600 shares of the bank’s stock valued at $5,195,000 after acquiring an additional 234,600 shares during the period. Martingale Asset Management L P bought a new stake in shares of Pacific Mercantile Bancorp in the fourth quarter valued at approximately $231,000. Dimensional Fund Advisors LP boosted its position in shares of Pacific Mercantile Bancorp by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 604,106 shares of the bank’s stock valued at $4,319,000 after acquiring an additional 31,392 shares during the period. Finally, BlackRock Inc. boosted its position in shares of Pacific Mercantile Bancorp by 3.1% in the fourth quarter. BlackRock Inc. now owns 953,825 shares of the bank’s stock valued at $6,820,000 after acquiring an additional 28,605 shares during the period. Institutional investors own 67.73% of the company’s stock.
Separately, Keefe, Bruyette & Woods cut Pacific Mercantile Bancorp from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $9.50 to $9.00 in a research report on Sunday, February 24th.
PMBC opened at $8.39 on Friday. Pacific Mercantile Bancorp has a 1-year low of $6.80 and a 1-year high of $10.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $184.75 million, a PE ratio of 8.06 and a beta of 0.54.
Pacific Mercantile Bancorp (NASDAQ:PMBC) last posted its quarterly earnings data on Monday, April 22nd. The bank reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.08). The business had revenue of $13.54 million during the quarter. Pacific Mercantile Bancorp had a net margin of 35.65% and a return on equity of 18.60%.
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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