Pacific Premier Bancorp Inc (PPBI) Stock Rating Upgraded by BidaskClub
BidaskClub upgraded shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI) from a strong sell rating to a sell rating in a research report sent to investors on Friday morning.
PPBI has been the topic of several other reports. Zacks Investment Research upgraded Pacific Premier Bancorp from a hold rating to a buy rating and set a $40.00 price target on the stock in a research report on Wednesday, June 28th. Keefe, Bruyette & Woods reiterated a buy rating and issued a $42.00 price objective on shares of Pacific Premier Bancorp in a report on Wednesday, June 28th. Stephens cut Pacific Premier Bancorp from an overweight rating to an equal weight rating in a report on Wednesday, July 26th. Piper Jaffray Companies set a $43.00 price objective on Pacific Premier Bancorp and gave the stock a buy rating in a report on Saturday, August 19th. Finally, ValuEngine cut Pacific Premier Bancorp from a buy rating to a hold rating in a report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $42.25.
Pacific Premier Bancorp (NASDAQ:PPBI) opened at 36.50 on Friday. The firm has a market capitalization of $1.46 billion, a P/E ratio of 25.31 and a beta of 0.72. Pacific Premier Bancorp has a 52-week low of $24.00 and a 52-week high of $41.90. The firm’s 50-day moving average is $36.34 and its 200-day moving average is $36.94.
Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by $0.12. Pacific Premier Bancorp had a return on equity of 9.42% and a net margin of 19.85%. The company had revenue of $72.10 million for the quarter, compared to the consensus estimate of $68.18 million. During the same quarter in the previous year, the business earned $0.38 earnings per share. On average, equities analysts expect that Pacific Premier Bancorp will post $1.68 earnings per share for the current year.
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In other Pacific Premier Bancorp news, Director Simone Lagomarsino sold 6,250 shares of the stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $36.25, for a total value of $226,562.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven R. Gardner sold 16,666 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $35.57, for a total value of $592,809.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,416 shares of company stock valued at $1,271,247. Company insiders own 4.59% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its stake in Pacific Premier Bancorp by 0.3% in the second quarter. Alps Advisors Inc. now owns 12,184 shares of the financial services provider’s stock valued at $450,000 after buying an additional 31 shares during the period. Envestnet Asset Management Inc. boosted its stake in Pacific Premier Bancorp by 7.6% in the first quarter. Envestnet Asset Management Inc. now owns 2,926 shares of the financial services provider’s stock valued at $112,000 after buying an additional 207 shares during the period. Citadel Advisors LLC boosted its stake in Pacific Premier Bancorp by 4.1% in the first quarter. Citadel Advisors LLC now owns 10,632 shares of the financial services provider’s stock valued at $410,000 after buying an additional 415 shares during the period. PNC Financial Services Group Inc. boosted its stake in Pacific Premier Bancorp by 9.4% in the second quarter. PNC Financial Services Group Inc. now owns 5,340 shares of the financial services provider’s stock valued at $198,000 after buying an additional 460 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in Pacific Premier Bancorp by 0.3% in the first quarter. Alliancebernstein L.P. now owns 156,640 shares of the financial services provider’s stock valued at $6,038,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 82.44% 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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