Company shares last traded at $9.50 which is slightly above $9.03, the 50 day moving average and much higher than the 200 day moving average of $8.32. The 50 day moving average was up $0.47 whereas the 200 day average was up by +14.11%. (NASDAQ:PMBC) shares saw light trading volume with 2,416 shares changing hands by the end of trading on Tuesday. Overall, volume was down 90.84% under the stocks normal daily volume.
Short traders are more bullish on Pacific Mercantile Bancorp recently if you watch the change in short interest. The stock had a fall in short interest of -26.07% between September 15, 2017 and September 29, 2017. Short interest fell 105,016 over that timeframe. The days to cover decreased to 12.0 and the percentage of shorted shares is 0.01% as of September 29.
A few notable investment firms have updated their holdings. Bank Of NEW York Mellon Corp trimmed its investment by shedding 36,653 shares a decrease of 73.1% as of 06/30/2017. Bank Of NEW York Mellon Corp controls 13,518 shares valued at $119,000. The total value of its holdings decreased 68.6%. As of quarter end Ejf Capital LLC had bought 5,603 shares growing its position 0.6%. The value of the company’s investment in Pacific Mercantile Bancorp went from $7,343,000 to $8,609,000 increasing 17.2% quarter over quarter.
Ubs Group Ag divested its holdings by selling 1,485 shares a decrease of 95.3%. Ubs Group Ag owns 73 shares worth $1,000. The value of the position overall is down by 91.7%. Context Bh Capital Management, Lp added to its stake by buying 100 shares an increase of 0.1% from 03/31/2017 to 06/30/2017. Context Bh Capital Management, Lp claims 171,537 shares with a value of $1,510,000. The value of the position overall is up by 16.7%.
On August 3, 2017 the stock rating was set at “Outperform” in a report from Keefe Bruyette & Woods which is up from the previous “Market Perform” rating.
As of the latest earnings report the EPS was $-1.12 and is expected to be $0.49 for the current year with 23,193,000 shares presently outstanding. Next quarter’s EPS is forecasted at $0.16 with next year’s EPS projected to be $0.67.
Pacific Mercantile Bancorp, launched on January 7, 2000, is the holding company for Pacific Mercantile Bank (the Bank). The Business’s business operations are conducted by the Bank. It operates through commercial banking segment. The Bank conducts a commercial banking business in Orange, Los Angeles, San Bernardino and San Diego counties in Southern California. The Bank provides small and medium-size businesses, professional firms and individuals with a range of products and services, such as deposit accounts, commercial and consumer loans, cash management services and online banking services..