Pacific Premier Bancorp (NASDAQ:PPBI) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday, January 10th, BidAskClub reports.
A number of other research firms have also recently weighed in on PPBI. ValuEngine cut Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a report on Friday, January 3rd. Zacks Investment Research upgraded Pacific Premier Bancorp from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Thursday, December 26th. Finally, Stephens reissued a “hold” rating and set a $31.00 price target on shares of Pacific Premier Bancorp in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $34.00.
PPBI traded up $0.03 on Friday, hitting $31.72. 158,629 shares of the company’s stock were exchanged, compared to its average volume of 255,374. The firm has a market cap of $1.88 billion, a PE ratio of 12.24 and a beta of 1.23. Pacific Premier Bancorp has a twelve month low of $24.73 and a twelve month high of $34.90. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock has a fifty day moving average of $32.55 and a two-hundred day moving average of $31.52.
Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The company had revenue of $123.77 million for the quarter, compared to analysts’ expectations of $117.66 million. Pacific Premier Bancorp had a return on equity of 8.07% and a net margin of 28.03%. During the same period last year, the business posted $0.46 earnings per share. On average, analysts predict that Pacific Premier Bancorp will post 2.54 EPS for the current year.
In other news, EVP Christopher Porcelli sold 3,270 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $33.50, for a total transaction of $109,545.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven R. Gardner sold 24,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $33.10, for a total transaction of $794,400.00. The disclosure for this sale can be found here. Insiders sold a total of 96,679 shares of company stock worth $3,192,014 in the last three months. Company insiders own 3.67% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in shares of Pacific Premier Bancorp by 12.5% during the 2nd quarter. BlackRock Inc. now owns 7,587,878 shares of the financial services provider’s stock valued at $234,314,000 after acquiring an additional 843,759 shares during the last quarter. Vanguard Group Inc. raised its holdings in Pacific Premier Bancorp by 6.8% during the 2nd quarter. Vanguard Group Inc. now owns 5,929,371 shares of the financial services provider’s stock worth $183,099,000 after buying an additional 379,035 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Pacific Premier Bancorp by 11.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,499,092 shares of the financial services provider’s stock valued at $108,052,000 after buying an additional 348,623 shares in the last quarter. State Street Corp lifted its stake in Pacific Premier Bancorp by 2.6% during the third quarter. State Street Corp now owns 2,003,111 shares of the financial services provider’s stock valued at $62,477,000 after buying an additional 50,783 shares in the last quarter. Finally, GW&K Investment Management LLC boosted its holdings in shares of Pacific Premier Bancorp by 8.4% in the third quarter. GW&K Investment Management LLC now owns 881,010 shares of the financial services provider’s stock worth $27,479,000 after buying an additional 68,302 shares during the period. Hedge funds and other institutional investors own 85.14% of the company’s stock.
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. The company accepts deposit products, such as checking, money market, and savings accounts; and certificates of deposit.
