Pacific Premier Bancorp (PPBI) Reaches New 1-Year Low at $35.21

Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $35.21 and last traded at $35.12, with a volume of 13935 shares trading hands. The stock had previously closed at $36.26.

Several analysts recently issued reports on the stock. BidaskClub raised shares of Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. ValuEngine cut shares of Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Zacks Investment Research cut shares of Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Finally, Stephens reaffirmed a “hold” rating and issued a $43.00 price target on shares of Pacific Premier Bancorp in a report on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. Pacific Premier Bancorp presently has a consensus rating of “Hold” and a consensus price target of $48.00.

The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 1.83 and a beta of 0.74. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Tuesday, July 24th. The financial services provider reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.02). The business had revenue of $89.32 million for the quarter, compared to analyst estimates of $92.28 million. Pacific Premier Bancorp had a return on equity of 8.61% and a net margin of 24.60%. During the same period last year, the company posted $0.35 earnings per share. On average, research analysts anticipate that Pacific Premier Bancorp, Inc. will post 2.55 EPS for the current fiscal year.

In other Pacific Premier Bancorp news, Director Simone Lagomarsino sold 7,828 shares of the stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $38.58, for a total transaction of $302,004.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Don M. Griffith sold 19,245 shares of the stock in a transaction on Monday, September 10th. The stock was sold at an average price of $40.02, for a total transaction of $770,184.90. The disclosure for this sale can be found here. 4.12% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the business. State of Alaska Department of Revenue increased its holdings in shares of Pacific Premier Bancorp by 13.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 14,545 shares of the financial services provider’s stock worth $541,000 after acquiring an additional 1,765 shares during the period. Citadel Advisors LLC grew its position in Pacific Premier Bancorp by 32.9% in the 1st quarter. Citadel Advisors LLC now owns 7,527 shares of the financial services provider’s stock valued at $303,000 after buying an additional 1,864 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its position in Pacific Premier Bancorp by 15.2% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 14,844 shares of the financial services provider’s stock valued at $566,000 after buying an additional 1,962 shares in the last quarter. Catalyst Capital Advisors LLC grew its position in Pacific Premier Bancorp by 16.7% in the 1st quarter. Catalyst Capital Advisors LLC now owns 14,000 shares of the financial services provider’s stock valued at $563,000 after buying an additional 2,000 shares in the last quarter. Finally, Profund Advisors LLC grew its position in Pacific Premier Bancorp by 38.4% in the 1st quarter. Profund Advisors LLC now owns 8,048 shares of the financial services provider’s stock valued at $324,000 after buying an additional 2,233 shares in the last quarter. 74.55% of the stock is currently owned by institutional investors.

About Pacific Premier Bancorp (NASDAQ:PPBI)

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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