Pacific Premier Bancorp (PPBI) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Pacific Premier Bancorp (NASDAQ:PPBI) from a strong-buy rating to a hold rating in a research note published on Tuesday morning.

According to Zacks, “LIFE Financial Corporation is a savings and loan holding company for Life Bank. The company originates, purchases, sells, securitizes and services primarily non-conventional mortgage loans principally secured by first and second mortgages on one- to four-family residences. The Company makes Liberator Series loans, which are for the purchase of residential real property by borrowers who generally would not qualify for Fannie Mae or Freddie Mac loans, and Portfolio Series loans, which is debt consolidation loans for borrowers whose credit history qualifies them. “

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Several other equities analysts have also weighed in on PPBI. Stephens reaffirmed a hold rating and set a $45.00 price objective on shares of Pacific Premier Bancorp in a research report on Tuesday, February 6th. Piper Jaffray set a $55.00 price objective on shares of Pacific Premier Bancorp and gave the company a buy rating in a research report on Tuesday, February 13th. BidaskClub raised shares of Pacific Premier Bancorp from a hold rating to a buy rating in a research report on Thursday, February 22nd. Finally, ValuEngine lowered shares of Pacific Premier Bancorp from a buy rating to a hold rating in a research report on Friday, March 23rd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $46.40.

Shares of PPBI opened at $40.45 on Tuesday. The company has a market cap of $1,874.14, a P/E ratio of 22.85, a price-to-earnings-growth ratio of 1.79 and a beta of 0.67. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.04 and a current ratio of 1.05. Pacific Premier Bancorp has a twelve month low of $32.05 and a twelve month high of $46.05.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.05. The firm had revenue of $87.62 million for the quarter, compared to analyst estimates of $83.30 million. Pacific Premier Bancorp had a net margin of 19.96% and a return on equity of 8.65%. During the same quarter last year, the firm earned $0.43 earnings per share. analysts predict that Pacific Premier Bancorp will post 2.82 earnings per share for the current year.

In other news, President Edward Earl Wilcox sold 21,261 shares of Pacific Premier Bancorp stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $44.50, for a total value of $946,114.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Tom Rice sold 22,036 shares of Pacific Premier Bancorp stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $42.76, for a total transaction of $942,259.36. The disclosure for this sale can be found here. In the last three months, insiders sold 98,146 shares of company stock worth $4,251,269. Insiders own 4.59% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its position in shares of Pacific Premier Bancorp by 24.5% in the fourth quarter. Sterling Capital Management LLC now owns 66,166 shares of the financial services provider’s stock valued at $2,647,000 after purchasing an additional 13,025 shares during the period. Vanguard Capital Wealth Advisors bought a new position in shares of Pacific Premier Bancorp in the fourth quarter valued at approximately $520,000. MetLife Investment Advisors LLC acquired a new stake in shares of Pacific Premier Bancorp in the fourth quarter worth $742,000. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Pacific Premier Bancorp in the fourth quarter worth $587,000. Finally, LPL Financial LLC acquired a new stake in shares of Pacific Premier Bancorp in the fourth quarter worth $395,000. 85.87% of the stock is currently owned by institutional investors.

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Pacific Premier Bancorp Company Profile

Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides banking services to businesses, professionals, real estate investors, and non-profit organizations. Its deposit products include checking, money market, and savings accounts. The company's loan portfolio comprises commercial business loans, lines of credit, small business administration loans, commercial real estate loans, agribusiness loans, home equity lines of credit, construction loans, farmland, and consumer loans, as well as multi-family residential, one-to-four family real estate, commercial and industrial, and franchise lending; warehouse repurchase facilities; and credit facilities to Home Owners' Associations (HOA) and HOA management companies.

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