Shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI) have been assigned a consensus recommendation of “Hold” from the seven ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $45.00.
Several equities research analysts recently issued reports on PPBI shares. ValuEngine upgraded Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Piper Jaffray Companies set a $43.00 price target on Pacific Premier Bancorp and gave the company a “buy” rating in a research note on Saturday, August 19th. Finally, BidaskClub upgraded Pacific Premier Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th.
Shares of Pacific Premier Bancorp (NASDAQ PPBI) traded down $0.10 during mid-day trading on Friday, hitting $38.80. The company had a trading volume of 205,160 shares, compared to its average volume of 356,217. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1,851.09, a PE ratio of 20.97, a P/E/G ratio of 2.99 and a beta of 0.82. Pacific Premier Bancorp has a fifty-two week low of $32.05 and a fifty-two week high of $42.55.
Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. The business had revenue of $72.51 million during the quarter, compared to analysts’ expectations of $72.23 million. Pacific Premier Bancorp had a return on equity of 9.21% and a net margin of 21.82%. During the same period in the previous year, the company posted $0.33 earnings per share. equities research analysts predict that Pacific Premier Bancorp will post 1.68 earnings per share for the current fiscal year.
In other news, CEO Steven R. Gardner sold 7,500 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $34.14, for a total transaction of $256,050.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ronald J. Jr. Nicolas purchased 2,500 shares of the stock in a transaction dated Monday, November 13th. The shares were bought at an average price of $36.97 per share, with a total value of $92,425.00. The disclosure for this purchase can be found here. Insiders have sold 77,500 shares of company stock valued at $2,714,150 over the last 90 days. Corporate insiders own 4.59% of the company’s stock.
Several large investors have recently made changes to their positions in PPBI. Janus Henderson Group PLC acquired a new position in shares of Pacific Premier Bancorp during the second quarter worth $31,506,000. The Manufacturers Life Insurance Company increased its holdings in shares of Pacific Premier Bancorp by 2,947.4% during the second quarter. The Manufacturers Life Insurance Company now owns 634,567 shares of the financial services provider’s stock worth $23,415,000 after buying an additional 613,744 shares in the last quarter. Phocas Financial Corp. increased its holdings in shares of Pacific Premier Bancorp by 317.5% during the second quarter. Phocas Financial Corp. now owns 495,358 shares of the financial services provider’s stock worth $18,279,000 after buying an additional 376,711 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Pacific Premier Bancorp by 875.1% during the second quarter. Victory Capital Management Inc. now owns 397,804 shares of the financial services provider’s stock worth $14,679,000 after buying an additional 357,008 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Pacific Premier Bancorp by 31.5% during the second quarter. Vanguard Group Inc. now owns 1,478,727 shares of the financial services provider’s stock worth $54,566,000 after buying an additional 354,386 shares in the last quarter. Institutional investors own 71.84% of the company’s stock.
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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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