Pacific Mercantile Bancorp (NASDAQ:PMBC) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 92,100 shares, a growth of 27.9% from the July 31st total of 72,000 shares. Based on an average daily volume of 36,500 shares, the short-interest ratio is currently 2.5 days. Currently, 0.5% of the company’s shares are short sold.

A number of institutional investors have recently bought and sold shares of PMBC. BNP Paribas Arbitrage SA increased its holdings in Pacific Mercantile Bancorp by 549.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,294 shares of the bank’s stock valued at $25,000 after purchasing an additional 2,787 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Pacific Mercantile Bancorp in the first quarter worth $50,000. Strs Ohio grew its stake in shares of Pacific Mercantile Bancorp by 5.4% in the second quarter. Strs Ohio now owns 25,300 shares of the bank’s stock worth $208,000 after acquiring an additional 1,300 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Pacific Mercantile Bancorp by 14.9% in the fourth quarter. Bank of America Corp DE now owns 35,355 shares of the bank’s stock worth $253,000 after acquiring an additional 4,576 shares in the last quarter. Finally, Martingale Asset Management L P grew its stake in shares of Pacific Mercantile Bancorp by 19.6% in the first quarter. Martingale Asset Management L P now owns 38,532 shares of the bank’s stock worth $294,000 after acquiring an additional 6,304 shares in the last quarter. Hedge funds and other institutional investors own 69.33% of the company’s stock.

Pacific Mercantile Bancorp stock traded up $0.11 during trading on Friday, hitting $8.02. The company had a trading volume of 39,588 shares, compared to its average volume of 29,309. Pacific Mercantile Bancorp has a 1-year low of $6.80 and a 1-year high of $10.25. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.39. The company’s 50 day simple moving average is $7.62 and its 200-day simple moving average is $7.91. The stock has a market cap of $169.35 million, a price-to-earnings ratio of 14.77 and a beta of 0.59.

Pacific Mercantile Bancorp (NASDAQ:PMBC) last posted its earnings results on Monday, July 22nd. The bank reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.02). Pacific Mercantile Bancorp had a net margin of 17.07% and a return on equity of 8.78%. The company had revenue of $13.61 million during the quarter.

Separately, TheStreet downgraded shares of Pacific Mercantile Bancorp from a “b” rating to a “c+” rating in a report on Friday, August 23rd.

Pacific Mercantile Bancorp Company Profile

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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