Pacific Premier Bancorp Inc (NASDAQ:PPBI) Rating Lowered to Sell at BidaskClub
BidaskClub lowered shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI) from a hold rating to a sell rating in a research note issued to investors on Tuesday.
A number of other research analysts have also recently commented on PPBI. ValuEngine upgraded Pacific Premier Bancorp from a hold rating to a buy rating in a research report on Monday, July 24th. Keefe, Bruyette & Woods restated a buy rating and issued a $42.00 price target on shares of Pacific Premier Bancorp in a research report on Wednesday, June 28th. Zacks Investment Research cut Pacific Premier Bancorp from a buy rating to a hold rating in a research report on Thursday, June 29th. FBR & Co upgraded Pacific Premier Bancorp from a market perform rating to an outperform rating and raised their price target for the stock from $40.00 to $44.00 in a research report on Monday, May 1st. Finally, Piper Jaffray Companies restated an overweight rating and issued a $41.00 price target (down previously from $43.00) on shares of Pacific Premier Bancorp in a research report on Monday, April 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $41.75.
Shares of Pacific Premier Bancorp (PPBI) traded down 0.14% during midday trading on Tuesday, hitting $35.30. 212,954 shares of the stock traded hands. The company has a market capitalization of $1.41 billion, a P/E ratio of 24.48 and a beta of 0.73. The stock has a 50 day moving average of $36.62 and a 200 day moving average of $37.23. Pacific Premier Bancorp has a 1-year low of $24.00 and a 1-year high of $41.90.
Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.12. Pacific Premier Bancorp had a return on equity of 11.98% and a net margin of 19.85%. The company had revenue of $72.10 million during the quarter, compared to the consensus estimate of $68.18 million. During the same quarter in the previous year, the business posted $0.38 EPS. Equities research analysts predict that Pacific Premier Bancorp will post $1.68 earnings per share for the current fiscal year.
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In related news, Director Simone Lagomarsino sold 11,049 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $37.56, for a total value of $415,000.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 29,799 shares of company stock worth $1,099,688 over the last ninety days. 4.59% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC acquired a new stake in Pacific Premier Bancorp during the first quarter valued at $109,000. UBS Asset Management Americas Inc. acquired a new stake in Pacific Premier Bancorp during the first quarter valued at $214,000. Swiss National Bank raised its stake in Pacific Premier Bancorp by 28.6% in the first quarter. Swiss National Bank now owns 58,474 shares of the financial services provider’s stock valued at $2,254,000 after buying an additional 13,000 shares during the period. Bank of New York Mellon Corp raised its stake in Pacific Premier Bancorp by 11.6% in the first quarter. Bank of New York Mellon Corp now owns 288,262 shares of the financial services provider’s stock valued at $11,112,000 after buying an additional 30,055 shares during the period. Finally, First Trust Advisors LP raised its stake in Pacific Premier Bancorp by 10.7% in the first quarter. First Trust Advisors LP now owns 51,683 shares of the financial services provider’s stock valued at $1,992,000 after buying an additional 4,990 shares during the period. 62.72% of the stock is currently owned by institutional investors and hedge funds.
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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