Clover Partners buys $10,531,488 stake in Pacific Mercantile Bancorp (PMBC)

Pacific Mercantile Bancorp (PMBC) : Clover Partners scooped up 17,777 additional shares in Pacific Mercantile Bancorp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,481,222 shares of Pacific Mercantile Bancorp which is valued at $10,531,488.Pacific Mercantile Bancorp makes up approximately 4.05% of Clover Partners’s portfolio.

Other Hedge Funds, Including , Endeavour Capital Advisors Inc boosted its stake in PMBC in the latest quarter, The investment management firm added 27,671 additional shares and now holds a total of 1,998,635 shares of Pacific Mercantile Bancorp which is valued at $14,210,295. Pacific Mercantile Bancorp makes up approx 1.05% of Endeavour Capital Advisors Inc’s portfolio. Teachers Advisors Inc added PMBC to its portfolio by purchasing 17,078 company shares during the most recent quarter which is valued at $121,425.Alliancebernstein reduced its stake in PMBC by selling 1,000 shares or 0.27% in the most recent quarter. The Hedge Fund company now holds 365,101 shares of PMBC which is valued at $2,595,868.Blackrock Fund Advisors boosted its stake in PMBC in the latest quarter, The investment management firm added 363,499 additional shares and now holds a total of 409,626 shares of Pacific Mercantile Bancorp which is valued at $2,912,441. Sg Americas Securities sold out all of its stake in PMBC during the most recent quarter. The investment firm sold 10,732 shares of PMBC which is valued $72,870.

Pacific Mercantile Bancorp opened for trading at $7.68 and hit $7.7 on the upside on Thursday, eventually ending the session at $7.7, with a gain of 0.26% or 0.02 points. The heightened volatility saw the trading volume jump to 43,066 shares. Company has a market cap of $177 M.

Pacific Mercantile Bancorp is the holding company for Pacific Mercantile Bank (the Bank). The Company’s business operations are conducted by the Bank. 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. The Bank offers its customers a number of different loan products including commercial loans and credit lines accounts receivable and inventory financing SBA guaranteed business loans and owner-occupied commercial real estate loans. The Bank’s sources of funds include deposits and borrowings and contractual obligations.

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