Pacific Premier Bancorp Inc (NASDAQ:PPBI) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Tuesday.
PPBI has been the subject of several other reports. BidaskClub raised Pacific Premier Bancorp from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Piper Jaffray Companies set a $43.00 price target on Pacific Premier Bancorp and gave the company a “buy” rating in a research note on Saturday, August 19th. Finally, Stephens lowered Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a research note 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 stock. The company currently has an average rating of “Hold” and a consensus target price of $45.00.
Shares of Pacific Premier Bancorp (NASDAQ:PPBI) traded up $0.25 during midday trading on Tuesday, reaching $37.60. The company’s stock had a trading volume of 382,900 shares, compared to its average volume of 351,472. The firm has a market cap of $1,726.30, a PE ratio of 19.56, a PEG ratio of 2.88 and a beta of 0.86. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.02 and a quick ratio of 1.01. Pacific Premier Bancorp has a 52-week low of $31.20 and a 52-week high of $42.55.
Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.03. The firm had revenue of $72.51 million during the quarter, compared to analysts’ expectations of $72.23 million. Pacific Premier Bancorp had a return on equity of 9.21% and a net margin of 21.82%. During the same period in the previous year, the firm earned $0.33 EPS. equities research analysts expect that Pacific Premier Bancorp will post 1.62 earnings per share for the current fiscal year.
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In other news, Chairman Steven R. Gardner sold 16,666 shares of Pacific Premier Bancorp stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $35.57, for a total value of $592,809.62. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Edward Earl Wilcox sold 25,000 shares of Pacific Premier Bancorp stock in a transaction on Friday, September 8th. The shares were sold at an average price of $32.81, for a total value of $820,250.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,166 shares of company stock worth $3,306,960. Corporate insiders own 4.59% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of PPBI. Janus Henderson Group PLC bought a new position in shares of Pacific Premier Bancorp in the 2nd quarter valued at $31,506,000. The Manufacturers Life Insurance Company grew its position in Pacific Premier Bancorp by 2,947.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 634,567 shares of the financial services provider’s stock worth $23,415,000 after acquiring an additional 613,744 shares during the last quarter. Phocas Financial Corp. grew its position in Pacific Premier Bancorp by 317.5% during the 2nd quarter. Phocas Financial Corp. now owns 495,358 shares of the financial services provider’s stock worth $18,279,000 after acquiring an additional 376,711 shares during the last quarter. Victory Capital Management Inc. grew its position in Pacific Premier Bancorp by 875.1% during the 2nd quarter. Victory Capital Management Inc. now owns 397,804 shares of the financial services provider’s stock worth $14,679,000 after acquiring an additional 357,008 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Pacific Premier Bancorp by 31.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,478,727 shares of the financial services provider’s stock worth $54,566,000 after acquiring an additional 354,386 shares during the last quarter. Institutional investors own 71.81% of the company’s stock.
Pacific Premier Bancorp Company Profile
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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