Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) was the target of a large decrease in short interest in December. As of December 15th, there was short interest totalling 1,170,238 shares, a decrease of 36.9% from the November 30th total of 1,855,801 shares. Currently, 2.6% of the company’s shares are sold short. Based on an average daily volume of 502,686 shares, the days-to-cover ratio is currently 2.3 days.
In other Pacific Premier Bancorp news, CFO Ronald J. Jr. Nicolas purchased 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was bought at an average cost of $36.97 per share, for a total transaction of $92,425.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Steven R. Gardner sold 12,500 shares of the stock in a transaction dated Friday, October 27th. The stock was 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. 4.59% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. raised its stake in Pacific Premier Bancorp by 664.8% during the 2nd quarter. Citigroup Inc. now owns 3,044 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 2,646 shares during the period. Ameritas Investment Partners Inc. raised its position in shares of Pacific Premier Bancorp by 52.0% during the second quarter. Ameritas Investment Partners Inc. now owns 3,441 shares of the financial services provider’s stock valued at $127,000 after buying an additional 1,177 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Pacific Premier Bancorp by 4,866.7% during the second quarter. BNP Paribas Arbitrage SA now owns 4,023 shares of the financial services provider’s stock valued at $148,000 after buying an additional 3,942 shares during the last quarter. Quantbot Technologies LP raised its position in shares of Pacific Premier Bancorp by 266.5% during the third quarter. Quantbot Technologies LP now owns 4,182 shares of the financial services provider’s stock valued at $157,000 after buying an additional 3,041 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of Pacific Premier Bancorp during the third quarter valued at approximately $196,000. Institutional investors own 71.35% of the company’s stock.
Pacific Premier Bancorp (NASDAQ:PPBI) opened at $40.75 on Friday. Pacific Premier Bancorp has a one year low of $32.05 and a one year high of $42.55. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.47. The firm has a market cap of $1,874.20, a P/E ratio of 25.15, a PEG ratio of 1.96 and a beta of 0.82.
Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.03. Pacific Premier Bancorp had a net margin of 21.82% and a return on equity of 9.21%. The firm had revenue of $72.51 million for the quarter, compared to analysts’ expectations of $72.23 million. During the same quarter in the prior year, the business earned $0.33 EPS. research analysts expect that Pacific Premier Bancorp will post 1.68 earnings per share for the current fiscal year.
PPBI has been the topic of several recent analyst reports. ValuEngine downgraded shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Piper Jaffray Companies reissued a “buy” rating and set a $49.00 price objective on shares of Pacific Premier Bancorp in a research report on Friday, October 27th. Finally, Zacks Investment Research raised shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Wednesday, December 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Pacific Premier Bancorp currently has a consensus rating of “Hold” and an average target price of $44.75.
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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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