Pacific Premier Bancorp Inc (NASDAQ:PPBI)‘s stock had its “buy” rating reiterated by stock analysts at Piper Jaffray Companies in a research note issued to investors on Friday, October 27th. They presently have a $49.00 price target on the financial services provider’s stock. Piper Jaffray Companies’ price target indicates a potential upside of 32.25% from the company’s previous close.
Other analysts have also recently issued research reports about the stock. ValuEngine cut shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. BidaskClub upgraded shares of Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Finally, Stephens cut shares of Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $45.00.
Shares of Pacific Premier Bancorp (PPBI) traded down $0.25 during mid-day trading on Friday, hitting $37.05. 459,700 shares of the stock traded hands, compared to its average volume of 348,697. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.02 and a current ratio of 1.02. Pacific Premier Bancorp has a 12 month low of $28.75 and a 12 month high of $42.55. The stock has a market cap of $1,723.99, a price-to-earnings ratio of 19.53, a P/E/G ratio of 2.88 and a beta of 0.86.
Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.03. The company had revenue of $72.51 million during the quarter, compared to the consensus estimate of $72.23 million. Pacific Premier Bancorp had a net margin of 21.82% and a return on equity of 9.21%. During the same period last year, the firm earned $0.33 EPS. equities research analysts anticipate that Pacific Premier Bancorp will post 1.62 earnings per share for the current fiscal year.
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In other news, Director Zareh Hovik Sarrafian acquired 1,500 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were purchased at an average price of $32.65 per share, for a total transaction of $48,975.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Steven R. Gardner sold 12,500 shares of Pacific Premier Bancorp stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $41.02, for a total transaction of $512,750.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,416 shares of company stock worth $3,531,960. 4.59% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. New York State Common Retirement Fund boosted its stake in Pacific Premier Bancorp by 95.8% during the second quarter. New York State Common Retirement Fund now owns 73,638 shares of the financial services provider’s stock worth $2,717,000 after acquiring an additional 36,033 shares in the last quarter. State Street Corp boosted its stake in Pacific Premier Bancorp by 54.6% during the first quarter. State Street Corp now owns 910,631 shares of the financial services provider’s stock worth $35,104,000 after acquiring an additional 321,765 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Pacific Premier Bancorp during the second quarter worth about $31,506,000. TD Asset Management Inc. bought a new stake in Pacific Premier Bancorp during the second quarter worth about $601,000. Finally, CNH Partners LLC bought a new stake in Pacific Premier Bancorp during the second quarter worth about $1,384,000. 83.98% of the stock is currently owned by institutional investors and hedge funds.
About Pacific Premier Bancorp
Pacific Premier Bancorp, Inc is a bank holding company. The Company’s subsidiary, Pacific Premier Bank (the Bank), is a California state-chartered commercial bank. The Company’s principal business is attracting deposits from small and middle market businesses and consumers and investing those deposits together with funds generated from operations and borrowings, primarily in commercial business loans and various types of commercial real estate (CRE) loans.
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